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In line with the recommendations as provided by GST Council, the CBIC has come up with the new and simplified formats of GST return and have placed the same on the domain for public comments. The CBIC has recommended monthly as well as quarterly returns for different category of tax payers.
The current structure of return filing has not worked as per the expectations, as GSTR-2 and GSTR-3 had to be suspended and the government had to introduce summary return in the form of GSTR-3B, which has continued till date.
The CBIC has attempted to re-package the return structure and create one return, while also working on retaining the invoice matching, which is one the key measures to tackle GST evasion along with introduction of e-way bill.
An application was filed before the AAR by M/s Ultra Tech Cement Limited w.r.t. deduction of special discount / rate difference while arriving at transaction value of their goods.
The AAR answered the application in negative against the assessee, especially when there is no fixed basis of determining such discount. It further held that mere reference of discount in the agreement do not make it a fair and arm's length business transaction and no taxation statute can be construed to be having open ended discount with legislative intent.
The transport Company failed to update Part B of the E-waybill, and the goods were subequently detained as e-waybill is deemed to be illegal in the absence of vehicle details in its Part B. The Assessing officer also levied a penalty of appx 1.32 crores for not carrying a 'valid' e-way bill
The Transport Company's argument that there is no intention to evade taxes and it was a technical error is rejected on the premise that the assessee failed to raise a greivance inspite of the Portal having an option for the same. The High Court also upheld levying penalty @ 100% of the value of the goods and assessee's further plea to levy minor penalty of Rs 5,000 was also rejected since the amount of tax involved was in lacs, whereas the law provided for such minor penalty only in cases, where tax amount involved is upto Rs. 5,000.
With a view to keep the reporting under Income Tax Act abreast with various changes happening recently w.r.t. GST, CbCR reporting, primary adjustments u/s 92CE, the government has made several changes to the Tax Audit report viz. Form 3CD. These changes are likely to come into effect from 20 August 2018.
The 28th GST Council Meeting was held on 21st July 2018 in New Delhi wherein, the Government has slashed the GST rates on various goods and services and simplified the GST return filing mechanism, further improving ease of doing business. Further, various amendments have been proposed addressing the concerns of the industry on various fronts. These amendments would be presented before the parliament for final approval.
HIGH COURT OF CHHATTISGARH
Writ Petition (T) No. 107 of 2018
Order dated: 18th June 2018
Notification No.: 13/2015-20
Dated: 20th June, 2018
Notification No.: ADVANCE RULING NO. GUJ/GAAR/R/2017-18/3
Dated: 17th Jan, 2018
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