CA, two associates arrested for GST fraud of Rs 50 crore in Noida.

Meerut: A Chartered Accountant (CA) and two of his associates on Monday night were arrested for allegedly evading Rs 50 crore of Goods and Services Tax (GST). The three were arrested from their office in Noida Sector 63 and were produced before a special chief judicial magistrate court in Meerut. They were remanded to judicial custody after having been booked under 2017's GST Act's Section 132 (1) A.

Director General of GST Intelligence (DGGI) detectives from the Ghaziabad regional unit apprehended the accused and took them to the Meerut headquarters. As per Special Public Prosecutor Lakshay Kumar Singh, the accused were identified as Akhilesh Sharma, Advocate Rahul Jain and CA Madhusudan Pandey. Sharma was reportedly appointed as a director in several bogus companies.

The accused along with a dozen others were involved in the fake billing of more than 20 firms reportedly. As per officials, Pandey confessed to having committed the crime and said that he and Jain used to provide clients to Sharma for fake invoices, in exchange of commission.

An officer, at the condition of anonymity, explained their modus operandi to TOI and said that via bogus companies registered with GST, the accused issued tax invoices for even those companies that did not supply or deal with any goods or services. These invoices were then sold to clients in need, leading to wrongful utilisation of input tax credit.

Source:https://www.timesnownews.com/mirror-now/crime/article/faridkot-rape-victim-to-be-compensated-with-rs-90-lakh-accuseds-property-to-be-auctioned-for-the-same-as-per-haryana-punjab-high-court/303640

DATE EXTENSION OF GSTR-3B

Due date for filing GSTR – 3B for September 2018 

is extended to October 25, 2018.

Source: CBIC Twitter handle, the relevant notification will be issued shortly.

PRESS RELEASE: Last date to avail Input Tax Credit in respect of invoices or Debit Notes relating to such invoices pertaining to period from July, 2017 to March, 2018.

There appears to be misgiving about the last date for taking Input Tax Credit (ITC) in relation to invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018. Such uncertainty seems to stem from the Government’s decision to extend the last date for furnishing of details of outward supplies in FORM GSTR-1 from time to time.

            According to Section 16 (4) of the CGST Act, 2017, a registered person shall not be entitled to take ITC in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under Section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such Debit Note pertains (hereinafter referred to as “the said invoices”) or furnishing of the relevant Annual Return, whichever is earlier.

            With taxpayers self-assessing and availing ITC through return in FORM GSTR-3B, the last date for availing ITC in relation to the said invoices issued by the corresponding supplier(s) during the period from July, 2017 to March, 2018 is the last date for the filing of such return for the month of September, 2018 i.e. 20th October, 2018.

            It is clarified that the furnishing of outward details in FORM GSTR-1 by the corresponding supplier(s) and the facility to view the same in FORM GSTR-2A by the recipient is in the nature of taxpayer facilitation and does not impact the ability of the taxpayer to avail ITC on self-assessment basis in consonance with the provisions of Section 16 of the Act. The apprehension that ITC can be availed only on the basis of reconciliation between FORM GSTR-2A and FORM GSTR-3B conducted before the due date for filing of return in FORM GSTR-3B for the month of September, 2018 is unfounded as the same exercise can be done thereafter also.

            It may, however, be noted that the Government has extended the last date for furnishing of return in FORM GSTR-3B for the month of September, 2018 for certain taxpayers who have been recently migrated from erstwhile tax regime to GST  regime vide Notification No. 47/2018- Central Tax dated 10th September, 2018. For such taxpayers, the extended date i.e. 31st December, 2018 or the date of filing of Annual Return whichever is earlier will be the last date for availing ITC in relation to the said invoices issued by the corresponding suppliers during the period from July, 2017 to March, 2018.

            All the taxpayers are encouraged to take note of the legal requirements and be compliance savvy.

Source:Posted On: 18 OCT 2018 5:51PM by PIB Delhi

Extension of Due Dates for filing of FORM GSTR-1 and FORM GSTR-3B in certain cases-10th September

Posted On: 10 SEP 2018 6:30PM by PIB Delhi

It has been observed that the number of taxpayers who have filed FORM GSTR-3B is substantially higher than the number of taxpayers who have furnished FORM GSTR-1. Non-furnishing of FORM GSTR-1 is liable to late fee and penalty as per the provisions of the GST law. In order to encourage taxpayers to furnish FORM GSTR-1, a one-time scheme to waive off late fee payable for delayed furnishing of FORM GSTR-1 for the period from July, 2017 to September, 2018 till 31.10.2018 has been launched.In this regard, the due date for furnishing FORM GSTR-1 for the period from July, 2017 to September, 2018 has been extended till 31st October, 2018 for all registered persons having aggregate turnover above Rs 1.5 crores including the registered persons in Kerala, or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry). For taxpayers having aggregate turnover up to Rs 1.5 crores, the due date for furnishing FORM GSTR-1 for the quarters from July, 2017 to September, 2018 has been extended till 31st October, 2018. Notification Nos. 43 and 44/2018 – Central Tax dated 10th September, 2018 have been issued in this regard. For registered persons having aggregate turnover up to Rs 1.5 crores in Kerala, or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry), the due date for furnishing FORM GSTR-1 for the quarter July, 2018 to September, 2018 would continue to remain as 15th November, 2018 as notified vide notification No. 38/2018-Central Tax dated 24th August, 2018.
Further, for those taxpayers who will now be migrating to GST as per the procedure specified in notification No. 31/2018-Central Tax, dated 06.08.2018, the last date for furnishing the details of outward supplies of goods or services or both in FORM GSTR-1 and for filing the return in FORM GSTR-3B for the months of July, 2017 to November, 2018 has been extended till 31.12.2018. Notification Nos. 45, 46 and 47/2018 – Central Tax dated 10th September, 2018 have thus been issued for extension of dates for filing FORM GSTR-3B.
It is hereby clarified that as per the provisions of section 16 (4) of the Central Goods and Services Tax Act, 2017, the registered person shall not be entitled to take input tax credit in respect of any invoice after the due date of furnishing of the return for the month of September following the end of financial year to which such invoice pertains; or furnishing of the relevant annual return, whichever is earlier. The taxpayers are thus, advised to furnish their returns on time to ensure that input tax credit does not become time barred.