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No input tax credit if GST returns not filed, says Telangana HC

Tuesday, April 23, 2019, 10:50 AM

The Telangana High Court has ruled that no input tax credit (ITC) is available unless GST returns are filed and a taxpayer is liable to pay penalty on the entire liability. The ruling is expected to have a significant impact on all businesses that use tax credits available on inputs and raw materials to reduce payment in cash.
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Govt extends deadline for GST sales return for March until 23 April

Sunday, April 21, 2019, 9:36 AM

The government has extended the last date for filing summary sales return, GSTR-3B, for March month by three-days until April-23. According to the source, "Glitches in GSTN is leading to frequent extensions in the filing of tax-returns. Tax filers also need to improve the habit of filing at the last date, leading to burden on the servers resulting in the collapse of the same."
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Taxmen use rare law to collect dues directly from bank accounts of evaders

Thursday, April 4, 2019, 8:12 PM

Revenue officials, chasing huge tax collection deficit, are moving into top gear to maximise collections by year end even if that means deducting money directly from your bank account to fill a gap of thousands of crores. Combined direct tax and indirect tax collections of the government may fall short by around Rs 60,000 crore this year.

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