Our News - Apr 2021
- 2021-03-02 : GST crosses Rs. 1.1 lakh cr-mark for third straight month
GST collections for February crossed Rs. 1.1 lakh crore for the third consecutive month.The gross GST revenue collected in the month of February 2021 is Rs. 1,13,143 crore. The increase in GST collection is an indication of economic recovery of the country post the pandemic. - 2021-02-18 : Government tightened GST registration rules
Government made GST rules stringent. According to the new rules non-compliance will result in the cancellation of a taxpayer’s GST registration. The primary aim of the move is to curtail fraudulent business practices and the wrongful availing of the input tax credit by businesses. - 2021-01-01 : Deadlines extended for filing GST
The government extended the due dates for indirect tax compliance, the government has extended the date for filing annual returns under GST for the financial year 2019-20 to February 28 from the previous deadline of December 31. - 2020-12-02 : GST collections for November top ₹1 trillion
GST revenue scaled ₹1 trillion for the second consecutive month in November, after a sharp decline in the initial months due to the pandemic and the subsequent nationwide lockdown. The government notified that GST collections increased by 1.4% on a year-on-year basis. Out of the ₹1.05 trillion revenue collected, central GST was ₹19,189 crore, state GST was ₹ 25,540 crore, IGST ₹ 51,992 crores and cess ₹8,242 crores. - 2020-11-24 : GST registration for an overhaul
The GST Council law committee has made its recommendations on both new registrations and the removal of current risky taxpayers likely to be interested in the fraud. Comprehensive amendments to the registration procedure for new applicants will soon be considered by the GST Council, which will make the process rigorous for those not opting for Aadhaar-based authentication. The new rules seek to curtail fly-by-night operators that use bogus invoices to take advantage of input tax credits.
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