New Delhi: Many food items will become costlier from Monday after the implementation of the GST Council’s decision.

These include pre-packaged and labelled food items like flour, cheese and curd. They will have to pay five per cent GST.

Similarly, hospital rooms rented above Rs 5,000 will also have to pay GST. Hotel rooms with rent below Rs 1,000 per day are said to be taxed at the rate of 12 per cent.

The post GST rate hike on many daily essential items including Milk, rice and others appeared first on TV Punjab | English News Channel.

New Delhi: The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has detected a case wherein total ITC of more than Rs 160 crore has been utilized and passed on by network of nonexistent & fake firms in tandem with various existing entities, wholesalers.

Based on intelligence which was analyzed & acted upon by the Gurugram Zonal Unit, it emerged that a merchant, who is an importer and wholesale trader of dry fruits has availed IGST Input Tax Credit on imports, but has further issued duty paid invoices to various non-existent firms, whereas the goods (dry fruits) were sold in the open market to various retailers. Quiet a few of the firms, to whom invoices were issued were found to be non-existent / fake (registered on GST portal under different HSN), who further issued goodless invoices to fraudulently pass on ITC without supply of any goods. The merchant has rendered itself to liable under Section 122 (i) (ii) of the CGST Act, 2017, etc., as a Consequence of which the merchant has deposited Rs. 5 crore till date, additional recovery in this matter is expected, officials said.

In all, 10 such fake firms busted so far in the investigation, have fraudulently availed & passed on Input Tax Credit (ITC) in excess of Rs. 160 crore, bases on inwards from the merchant, and from other fake/cancelled sources, which is under further investigation. Controller of one such firm to whom duty paid invoices were issued without supply of actual goods by the merchant, prima facie passed on fraudulent ITC of Rs. 26.3 crore, was identified as Pawan Kumar Sharma. It emerged through investigation that Sh. Pawan Kumar Sharma is also proprietor of another firm M/s Pawan Traders also involved in passing on fraudulent Input Tax Credit (ITC).

The post Man held for fraudulently availing ITC of more than 160 crore through a network of 10 fake firms appeared first on TV Punjab | English News Channel.

New Delhi: Following reports in a section of the media that feedback has been sought from States regarding a suggestion for raising Good & Services Tax (GST) rates on 143 items, Union government on Tuesday issued an clarification.

Government said that it is clarified that no feedback from States has been sought on the GST rates for any specific items or specific proposals to restructure the rates and the reports regarding the same are purely speculative without any basis in fact.

The GST Council, in its 45th Meeting had formed a Group of Ministers (GoM) to look into the rationalization of rates. The deliberations of the Group are ongoing. The views of the States were sought generally on the Terms of References (ToRs) of the GoM soon after it was set up in September, 2021. A report of the Group is yet to be submitted to the Council for consideration.

The post No feedback sought on raising GST rates on 143 items clarifies union government appeared first on TV Punjab | English News Channel.

New Delhi: New Delhi: Through extensive analysis of E-way bills, CGST Delhi East Commissionerate had busted a syndicate of five firms who were engaged in availing and utilising fake Input Tax Credit (ITC) of Goods and Services Tax (GST).

During further investigation it was found that this syndicate was using two more entities namely, M/s Shree Mahaveer International and M/s Gravity Enterprises.

A communication was also received from GST, Gujarat State that a car bearing registration no. DL8CAS5941, registered in the name of one of the syndicate firm M/s Blue Water Expotrade Private Limited was intercepted by them in Ahmedabad. FastTags of Trucks were affixed on the car to create false movement of export goods from Delhi to Mundra port. The E-way bills in respect of the fake supply were issued by M/s Shree Mahaveer International, the investigation revealed.

Search was conducted at residential premises of Rakesh Kumar Jain, proprietor in M/s Shree Mahaveer International and Partner in M/s Gravity Enterprises on 10th March 2022.

Officials said that Rakesh Kumar Jain in his voluntary statement admitted that bogus invoices were received and issued from these syndicate firms without actual supply of goods.

It was evident that Kumar Jain was using multiple firms to avail and pass on fake ITC on bogus invoices and E-Way Bills without actual supply of goods. The quantum of GST evaded by him is more than Rs. 85 crore.

Therefore, he was arrested on 10th March 2022 for committing offences specified under Section 132(1)(b)&(c) of the CGST Act, 2017 and produced before Metropolitan Magistrate Patiala House Courts, New Delhi.

Investigation by CGST Delhi (East) Commissionerate so far has unearthed fake ITC racket by seven firms namely, M/s Vibe Tradex, M/s Prime Mark Expotrade Private Limited, M/s Blue Water Expotrade India Private Limited, M/s Transglobe Tradex Private Limited, M/s Tirupati Overseas, M/s Shree Mahaveer International & M/s Gravity Enterprises.

Further investigation in the case is under progress, officials added.

The post CGST Delhi officials bust a syndicate of 7 firms in GST evasion of more than Rs 85 crore appeared first on TV Punjab | English News Channel.

ਜੀਐਸਟੀ (GST) ਕੌਂਸਲ ਦੀ 28 ਮਈ ਨੂੰ ਹੋਣ ਵਾਲੀ ਬੈਠਕ ਵਿੱਚ ਪੈਟਰੋਲ ਅਤੇ ਡੀਜ਼ਲ ਦੀਆਂ ਵਧਦੀਆਂ ਕੀਮਤਾਂ ਉੱਤੇ ਵੀ ਵਿਚਾਰ ਕੀਤੇ ਜਾਣ ਦੀ ਸੰਭਾਵਨਾ ਹੈ। ਕੇਂਦਰ ਸਰਕਾਰ ਵੱਖ-ਵੱਖ ਮੋਰਚਿਆਂ ‘ਤੇ ਕਈ ਵਾਰ ਕਹਿ ਚੁੱਕੀ ਹੈ ਕਿ ਤੇਲ ਦੀ ਕੀਮਤ ਨੂੰ ਕਾਬੂ’ ਚ ਲਿਆਉਣ ਲਈ ਇਸ ਨੂੰ ਜੀਐਸਟੀ ਦੇ ਦਾਇਰੇ ਵਿਚ ਲਿਆਉਣਾ ਪਏਗਾ। ਇਸ ਸਬੰਧ ਵਿਚ ਰਾਜਾਂ ਦੇ ਵਿਚਾਰ ਜਾਣਨ ਤੋਂ ਬਾਅਦ ਵਿੱਤ ਮੰਤਰੀ ਅੱਗੇ ਰੋਡ-ਮੈਪ ਦਾ ਫੈਸਲਾ ਕਰ ਸਕਦੇ ਹਨ। ਇਸ ਦੇ ਨਾਲ ਹੀ ਰਾਜਾਂ ਤੋਂ ਮੰਗ ਕੀਤੀ ਗਈ ਹੈ ਕਿ ਟੀਕੇ ਅਤੇ ਕੋਰੋਨਾ ਦੌਰਾਨ ਇਲਾਜ ਨਾਲ ਜੁੜੇ ਹੋਰ ਮਹੱਤਵਪੂਰਨ ਮੋਰਚਿਆਂ ‘ਤੇ ਜੀਐਸਟੀ ਘਟਾਏ ਜਾਣ, ਜਿਸ ਨੂੰ ਸਭਾ ਦੀ ਬੈਠਕ ਵਿਚ ਵਿਸ਼ੇਸ਼ ਧਿਆਨ ਦਿੱਤਾ ਜਾਣਾ ਹੈ।

ਜੀਐਸਟੀ ਕੌਂਸਲ ਦੇ ਸਾਹਮਣੇ ਪੰਜ ਚੁਣੌਤੀਆਂ
1. ਜੀਐਸਟੀ ਘਾਟੇ ਦੀ ਭਰਪਾਈ

ਕੇਂਦਰ ਨੂੰ ਕੋਰੋਨਾ ਕਾਰਨ ਲਗਾਤਾਰ ਦੂਜੇ ਸਾਲ ਜੀਐਸਟੀ ਦੇ ਨੁਕਸਾਨ ਦੀ ਭਰਪਾਈ ਹੋ ਸਕਦੀ ਹੈ. ਮਾਹਰਾਂ ਅਨੁਸਾਰ ਕੇਂਦਰ ਨੂੰ 2.7 ਲੱਖ ਕਰੋੜ ਰੁਪਏ ਦਾ ਮੁਆਵਜ਼ਾ ਦੇਣਾ ਪੈ ਸਕਦਾ ਹੈ।

2. ਈ-ਵੇਅ ਬਿੱਲ ਨੂੰ ਵਿਸਥਾਰ
ਇਸ ਸਮੇਂ ਦੇਸ਼ ਵਿਚ ਸਿਰਫ ਅੱਧੀਆਂ ਕੰਪਨੀਆਂ ਈ-ਵੇਅ ਬਿੱਲ ਦੀ ਵਰਤੋਂ ਕਰ ਰਹੀਆਂ ਹਨ. ਇਸ ਤੋਂ ਟੈਕਸ ਚੋਰੀ ਹੋਣ ਦੀ ਸੰਭਾਵਨਾ ਹੈ। ਜੀਐਸਟੀ ਕੌਂਸਲ ਦੇ ਸਾਹਮਣੇ ਈ-ਵੇਅ ਬਿੱਲ ਦੇ ਦਾਇਰੇ ਨੂੰ ਵਧਾਉਣਾ ਚੁਣੌਤੀ ਹੋਵੇਗੀ।

3. ਕੋਵਿਡ ਟੀਕੇ ‘ਤੇ ਟੈਕਸ

ਜੀਐਸਟੀ ਕੌਂਸਲ ਕੋਵਿਡ -19 ਟੀਕੇ ਨੂੰ ਟੈਕਸ ਤੋਂ ਛੋਟ ਦੇਣ ਦੇ ਪ੍ਰਸਤਾਵ ‘ਤੇ ਵਿਚਾਰ ਕਰੇਗੀ। ਇਸ ਵੇਲੇ ਟੀਕਾ 5 ਪ੍ਰਤੀਸ਼ਤ ਜੀ.ਐੱਸ.ਟੀ. ਕੁਝ ਰਾਜਾਂ ਨੇ ਕੋਰੋਨਾ ਦੀ ਟੀਕੇ ਨੂੰ ਪੂਰੀ ਤਰ੍ਹਾਂ ਟੈਕਸ ਮੁਕਤ ਰੱਖਣ ਜਾਂ 0.1 ਪ੍ਰਤੀਸ਼ਤ ਦਾ ਮਾਮੂਲੀ ਟੈਕਸ ਲਗਾਉਣ ਦਾ ਸੁਝਾਅ ਦਿੱਤਾ ਹੈ।

4. ਦੋ ਸਲੈਬਾਂ ਨੂੰ ਮਿਲਾਉਣ ‘ਤੇ ਫੈਸਲਾ

ਦੋਵੇਂ ਸਲੈਬਾਂ ਨੂੰ ਜੀਐਸਟੀ ਵਿਚ 12 ਪ੍ਰਤੀਸ਼ਤ ਅਤੇ 18 ਪ੍ਰਤੀਸ਼ਤ ਜੋੜਨ ਦਾ ਫੈਸਲਾ ਲੰਬੇ ਸਮੇਂ ਤੋਂ ਅਟਕਿਆ ਹੋਇਆ ਹੈ. ਇਸ ਬੈਠਕ ਵਿਚ ਵਿਚਾਰ ਵਟਾਂਦਰੇ ਦੀ ਉਮੀਦ ਕੀਤੀ ਜਾ ਰਹੀ ਹੈ, ਪਰ ਇਹ ਕਹਿਣਾ ਮੁਸ਼ਕਲ ਹੈ ਕਿ ਮਰਜ ਦਾ ਫ਼ੈਸਲਾ ਕੀਤਾ ਜਾਵੇਗਾ ਜਾਂ ਨਹੀਂ।

The post ਜੀਐਸਟੀ ਕਾਉਂਸਲ ਦੀ ਬੈਠਕ ਵਿੱਚ ਪੈਟਰੋਲ ਅਤੇ ਡੀਜ਼ਲ ‘ਤੇ ਵਿਚਾਰ-ਵਟਾਂਦਰੇ ਹੋ ਸਕਦੇ ਹਨ, ਇਨ੍ਹਾਂ ਚੁਣੌਤੀਆਂ ਦਾ ਸਾਹਮਣਾ ਕੀਤਾ ਜਾਵੇਗਾ appeared first on TV Punjab | English News Channel.