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Corporate News *  Unprecedented tax reforms undertaken by Indian Customs for enhancing easy of doing business. *  Companies rush to match input tax credit with vendor returns *  Petition seeks Interest for Delayed IGST Refunds: Gujarat HC issues notice to Centre and GST Council *  Delhi High Court allows manual filing of GSTR-3B IndusInd Media & Anr. Vs. Union of India & Ors. W.P. (c) No. 8691/2018 *  GST - e-Way Bills generation peaks to 20 lakh a day in second week of October *  GST - Traders' Federation urges Council to enhance e-Way Bill threshold from Rs 50K to Rs 5 lakh for Intra-State transactions *   GST most complex, needs massive fixing: Punjab FM Manpreet Singh Badal *   Some GST-laden private banks up charges on remittances  *   Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore *  GST details to be provided in the income tax returns. *  Foreign ecommerce companies rush to register for GST in all states. *   GST Council Sets up Ministerial Panel to Examine 'Calamity Tax' on Certain Goods. *   States remain short of GST growth targets . *   About 1,800 businesses opt for migration to GST regime. *   GST Council discusses revenue shortfall; GoM to work out a model to raise funds for disaster relief. *   Publishers seek input tax credit for authors under the GST regime. *   At Rs 939.6 Billion, GST Collection In August Is Fiscal's Lowest. *   Govt spent Rs 1.32 bn on GST advertisements; print media got biggest share. *   Govt sets up office of GST Commissioner under CBIC to check tax evasion. *   TDS and TCS provisions under GST law to be implemented from Oct 1: Govt. *   E-commerce players to pay up to 2% tax collected at source from October. *   More agents of foreign companies to approach courts against 18% IGST. *   CERC allows GST as 'Change in Law' for solar projects, recovery of tax paid. *   GST Council to form 7-member GoM to advice on Kerala's calamity cess demand. *   Lifestyle penalized for not passing on lower GST benefits. *   Government Spent Rs 132.4 Crore On GST Advertisements *   Challenges Loom Over Applicability Of New GST Provision For E-Marketplaces *   Ministerial Panel For GST Network To Meet On Saturday *   Jaitley proposes additional cess under GST to help flood-hit Kerala *   Yes Bank slapped with Rs 38 crore in GST fines for violating domestic remittances norms 
Subject News *  There is Family Assistant Program by the Raj Government for Dealers Registered in VAT/ GST ( May be by other States Also) *  GST Council Sets up Ministerial Panel to Examine 'Calamity Tax' on Certain Goods. *  India on Threshold of Becoming a Major Economic Power: Venkaiah Naidu *  GST policy on e-commerce may make life difficult for cab startups: Experts *  GST collection for September surges but fails to meet Rs 1 lakh-cr target. *  Some GST-laden private banks up charges on remittances . *  Now, GST on complimentary match tickets. *   Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore. *   No centre-state wall: Officials handling GST can assess all  *  Companies may have to show ledgers for claiming GST credit of over Rs 25 lakh. *  Narendra Modi, Vladimir Putin discuss GST. *  State authorities told to check if companies passing on GST cut benefits  *  Consumer durables firms, GST body continue to spar over profiteering *   TDS, TCS Provisions Under GST To Come Into Effect From Oct. 1 *   State appellate body upholds GST on liquidated damages *   225 million e-way bills generated across India since GST rollout *   September last month to fix GST filing errors *   Due date of TRAN-1 and TRAN-2 is extended *   Extension of Due date for GSTR-3B only for newly migrated taxpayers *   Extension of Due date for GSTR-1 *   Taxpayer with turnover over Rs 2 cr need GST audit certificate, will be arduous job for auditors *   Whether the appellants are eligible for refund of the duty claimed to have been paid in excess on the basis of DMT of the goods? Whether the said claim of refund is sustainable without challenging the assessment of the shipping bills. (Source:PJ/CASE LAW/2018-2019/3479) *   GST Flash Updates on various circulars and notifications dated 04/09/2018 *   GST Update on Circular No. 61/2018-GST dated 04.09.2018 *   GST Update on disharmony in CGST and SGST *    Update on restriction of refund of IGST paid on exports under Rule 96(10) of the CGST Rules *   1,800 businesses migrate to GST regime *   ‘Missing’ service tax credit in GST update worries companies  *   Government notifies new annual return form for GST *  Whether Automatic Taps, Urinals and WC Flushing Systems would be classified under heading 9032 or Heading 8481 of Central Excise tariff.  


Supply of services by Composition taxpayer upto Rs 5 lakh per annum will be allowed

The GST Council today decided to raise Composition Scheme threshold to Rs 2 crore. The Council, which held its 23rd meeting in Guwahati, decided that there will be no inter-state taxes and input tax credit for composition dealers. Only 50 items, mostly demerit, sin and luxury goods will be in  the top 28 per cent tax bracket. Meanwhile, West Bengal Finance Minister Amit Mitra said aggregate revenue loss for Centre due to GST stood at Rs 60,000 crore and revenue loss for states is at Rs 30,000 crore.

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