Weekly Roundup – India GST News & Updates you need to know
- Feb 28, 2020 | Divita S Gupta
With every penny adding to the GST revenue stream, the Government is sending notices for GST payments as low as Rs. 2. Read more such updates on #GSTThisWeek
CBIC enables option to File GSTR-9 & GSTR-9C for FY 2018-19
The Central Board of Indirect Taxes and Customs has enabled the option to file GSTR-9 and GSTR-9C for FY 2018-19 and the due date to file the same is March 31st 2020. GSTR-9 is an annual return to be filed yearly by taxpayers registered under GST while GSTR-9C is a reconciliation statement for registered taxpayers whose turnover for the financial year has exceeded the prescribed 2 crores.
Telecom companies might need to shell out Service Tax as well as GST
The Government has sent notices to telecom companies for the payment of service tax as well as GST on their adjusted gross revenues (AGR) dues. Both the current and the previous tax regime state that companies receiving services from the government are liable to pay taxes under the reverse charge mechanism. This means a service receiver is liable to pay taxes and telecom companies would be liable to pay taxes on services (spectrum and licence services) receivable by them from the the Department of Telecommunications both during the pre-GST and post GST period.
Taxpayers receive notices to cough up GST as low as Rs. 2
The GST revenue department recently announced that those filing returns past their due dates should be paying interest on the taxes due and has ordered a recovery of Rs 46,000 crore as interest from those who filed their returns after the due dates. For those who are only a few days behind on filing their GST returns, the Government has sent notices to cough up as low as Rs. 2.
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