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GST raid officer kidnapped

GST officers on raid kidnapped for Rs 5 lakh ransom
July 6th, 2023
Posted By: Team-MMTaxClub

GST officers on raid kidnapped for Rs 5 lakh ransom, scrap dealer among 4 held in Hyderabad

Two GST intelligence officers in Hyderabad were allegedly assaulted and kidnapped when they arrived at a scrap godown Wednesday to raid the premises and inquire into an alleged fake GST registration, the police said. Rachakonda police arrested a scrap dealer and three of his associates in connection with the incident.

According to officials, the incident took place in Kranthinagar, Saroornagar and the arrested were identified as Syed Firoze, owner of the scrap unit, and his associates Syed Mujeeb, Shaik Imtiaz, and Syed Musheer.

B Sai Sri, LB Nagar Deputy Commissioner of Police, said that the accused asked for Rs 5 lakh ransom to be arranged for their release. The police received a complaint at around 10.30 am from GST officers who were informed about the assault and kidnap of two of their officers.

The DGGI (Directorate General of GST Intelligence) had a tip-off regarding the scrap unit using a fake GST registration number. According to police, when the two officers reached the site and started inquiries, the four accused picked up a heated argument with the two, snatched the ID cards of the officials and pushed them into a Toyota Fortuner and drove away.

“The accused asked for Rs 5 lakh ransom to be arranged for their release. One of the officers called his superior on the phone and informed him about the matter,” DCP said.

The superior officers alerted the Rachakonda police. Special police teams quickly tracked the kidnapped officers based on CCTV visuals and technical support to rescue them from near Rajiv Chowk, four km from the godown, by noon.

The arrested people were remanded in judicial custody. The police are on the lookout for another accused who is absconding.

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GSTR-3B filing not enabled

GSTR-3B tab will not open before the filing of GSTR-1
July 6th, 2023
Posted By: Team-MMTaxClub

As per update from GSTN a taxpayer cannot file Form GSTR-3B return until Form GSTR-1 return has been filed for a particular period.

Now on GST portal if you tried to file GSTR-3B before filing GSTR-1 of a particular period, a message get populated there saying;

"You have not filed GSTR-1 of the selected tax period. Please file the same to enable filing of GSTR-3B"
export broken ,rice

Procedure for allocation of quota for export of broken rice on humanitarian and food security grounds, based on requests received from Governments of other Countries
July 6th, 2023
Posted By: Team-MMTaxClub

The DGFT vide Trade Notice No. 13/2023 dated July 03, 2023 has issued a procedure for the allocation of quota for the export of broken rice on humanitarian and food security grounds, based on requests received from Governments of other Countries.

Trade Notice No. 08/2023 dated June 20, 2023 read with Trade Notice No. 12/2023 dated June 30, 2023 is partially amended to extend the last date for submission of application, for obtaining licence for export of broken rice to Senegal, Gambia and Indonesia, upto July 06, 2023.

In case of any mis-declaration by an applicant or any applicant failing to export the allocated quota to the respective Country(ies), within the specified time period, will be black listed for the next two financial years and action under the relevant provisions of FT (D&R) Act, 1992, as amended, shall be taken against the applicant.

Source

higher GST,mmtaxclub

DGGI seeks higher GST from auto parts makers
July 5th, 2023
Posted By: Team-MMTaxClub

Goods and services tax authorities have raised higher tax demands to several automotive component manufacturers, citing a Supreme Court judgement regarding a company owned by the West Bengal government.

The Directorate General of Goods and Services Tax Intelligence (DGGI) sent notices to at least 17 such companies in the last 45 days alone with total tax demands of over ₹1,200 crore, said people close to the development. Officials said the amount could go up further as more notices will be sent.

"Going by the Supreme Court order in the case of M/s Westinghouse Saxby Farmer, parts used exclusively for the auto industry have to pay higher tax and there cannot be two principles of taxation for the two industries," a senior tax official told ET.

The matter involves manufacturers of engines, horns, locks, lights, sensing devices, valves, switch panels, LCD screens used in dashboard displays, oil seals and other electronic components, among other vehicle parts.

While these manufacturers have been paying GST on the parts at lower rates, usually 18%, tax authorities have claimed that a rate of 28% is applicable since that is the GST rate applicable on 'parts and accessories of motor vehicles' as per the GST Law.

The component manufacturers have received demand notices for the differential amount along with interest, sources said.

Several companies are now planning to challenge these notices in courts, some of these people said.

 

The dispute in classification arises from a 2021 judgement by the Supreme Court in the case of Westinghouse Saxby Farmer, a manufacturer of relay systems used in railways signalling. The company classified the relays it manufactured as a part of railway equipment, which attracts a lower tax rate. It argued that the parts should be classified as such as they were manufactured exclusively for use in the railways.

Meanwhile, authorities sought reclassification of the product, which would result in higher taxation.

The apex court decided in Westinghouse Saxby's favour, classifying the relays as part of the railway signalling system. While this was beneficial for the railways and aviation industries, experts had warned at that time that the fallout of the ruling will have adverse impact on the automotive industry as they will have to deal with classification disputes with the GST authorities and may face higher tax than the existing one, as Supreme Court order supersedes Central Board for Indirect Taxes and Customs (CBIC) classification.

 
Delhi Govt,mmtaxclub

Delhi Govt waives late fee for filing Annual Returns of registered taxpayers
July 4th, 2023
Posted By: Team-MMTaxClub

F. No. 3 (06)/Fin.(Exp-I)/2023-24/DS-I/591.—In exercise of the powers conferred by section 128 of the Delhi Goods and Services Tax Act, 2017 (3 of 2017) (hereinafter referred to as the said Act), the Lieutenant Governor of National Capital Territory of Delhi, on the recommendations of the Council, hereby waives the amount of late fee referred to in section 47 of the said Act in respect of the return to be furnished under section 44 of the said Act for the financial year 2022-23 onwards, which is in excess of amount as specified in Column (3) of the Table below, for the classes of registered persons mentioned in the corresponding entry in Column (2) of the Table below, who fails to furnish the return by the due date, namely:— 

Serial Number

Class of registered persons

Amount

(1)

(2)

(3)

1.

Registered persons having an aggregate turnover of up to five crore rupees in the relevant financial year

Twenty-five rupees per day, subject to a maximum of an amount calculated at 0.02 per cent. of turnover in the State or Union territory.

2.

Registered persons having an aggregate turnover of more than five crores rupees and up to twenty crore rupees in the relevant financial year.

Fifty rupees per day, subject to a maximum of an amount calculated at 0.02 per cent. of turnover in the State or Union territory.

Provided that for the registered persons who fail to furnish the return under section 44 of the said Act by the due date for any of the financial years 2017-18, 2018-19, 2019-20, 2020-21 or 2021-22, but furnish the said return between the period from the 1st day of April, 2023 to the 30th day of June, 2023, the total amount of late fee under section 47 of the said Act payable in respect of the said return, shall stand waived which is in excess of ten thousand rupees.

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