Income tax deadline: Multiple associations, trade unions, and professionals have asked for staggered extensions in deadlines. They have requested the deadline to be extended to March 31

The gross GST revenue collected in November was Rs 1,04,963 crore of which CGST Rs 19,189 crore, SGST Rs 25,540 crore, IGST Rs 51,992 crore (including Rs 22,078 crore collected on import of goods) and Cess Rs 8,242 crore (including Rs 809 crore collected on import of goods)

Given the festivities and continued push in demand, the collections in November could also be robust. The question, however, remains as to whether this upsurge would continue in December and beyond

If we surpass over Rs 1,30,000 crore in November and December, we can confidently say that we have reached an economic rebound to pre-COVID-19 days

GST revenue collection October: Out of the gross GST revenue, CGST amounted to Rs 19,193 crore and SGST Rs 52,540 crore including Rs 23,375 crore collected on import of goods

The Institute of Chartered Accountants of India (ICAI) has written to the GST Council asking for an extension of 2018-19 GST annual return filing deadline

Gross mismanagement of the economy, starting with demonetisation in November 2016 and continued with untimely, unplanned and sudden nation-wide lockdown has compounded the GST problem. Centre's refusal to pay compensation to states now may derail it completely

In its 40th meeting via video-conferencing, the Council decided that maximum late fee for entities was capped at Rs 500 per return if there is any tax liability

April GST collections are for March transactions, and the lockdown started only from March 25, therefore, the poor collection in the month could be mostly due to extension of return filing dates

In the post-industrial democratic era, they have benefited immensely from the public provisioning of health and education that produces quality labour, infrastructure, natural resources, tax incentives, loan write offs (NPAs), bailouts, stimulus packages, and much more. Yet increasingly they use tax havens, shell companies and other tools to evade and avoid paying back

It is likely that due to the 15-day window for filing returns without paying any interest, many taxpayers have not filed their returns yet which led to GST collections numbers for March transactions being very low till today

For businesses with large tax liabilities, delaying the tax payment by three months would mean a large interest outgo, and hence those taxpayers, who have sufficient cash-in-hand are planning to pay the taxes and file returns on time

Amazon, Flipkart seek rollback of new Indian tax on online sellersAmazon and Walmart's Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to documents seen by Reuters. The online retail industry is braced for a possible 1% tax on each sale made by sellers on their platforms from April if the proposal is approved by parliament next ...

With Goods and services tax launches on July 1, 2017, this is the first time when businesses registered under GST have to file annual return GSTR-9 and reconciliation statement GSTR-9C

GSTR-9, GSTR-9C filing dates: This is the second extension of due dates for filing GST annual returns since January 31, 2020 when the GSTN portal had crashed

The Central Board of Indirect Taxes and Customs had extended the deadline to January 17 from the earlier January 10 deadline

The decision to the extend the deadline for availing late fee waiver on GSTR-1 was taken in view of enthusiastic response to the decision, Ministry of Finance said

The GST revenue from domestic transactions for December has shown an impressive growth of 16 per cent over the revenue during December 2018, the statement says

With around one crore GST-registered businesses failing file their returns in due time, the new set of norms will allow (GST) authorities to either attach their property or freeze their bank accounts, if the entities do not file their tax returns despite repeated reminders

Finance Minister Nirmala Sitharaman said the decision was not imposed by the council or by her as a chair but by a council member; the 'member' she referred to, according to those present in the meeting, was Kerala Finance Minister Thomas Isaac