1. Last year Notification No. 50/2017-Cus., dated 30-06-2017 was amended vide Notification No. 60/2003-Cus., dated 19-10-2023 and a new S.No. 551A was inserted in the said notification. Details of S.No. 551A are as mentioned below: (Please see table printed at the end).
2. The above-mentioned notification exempts foreign going vessel converted for a coastal run from the levy of IGST subject to the proviso specified in the said notification.
3. The Central Board of Excise and Customs (now the Central Board of Indirect Taxes and Customs-CBIC) has issued certain instructions, circulars and notifications in the matter of conversion of foreign going vessel from foreign run to coastal run. Details of such legal provisions are as mentioned below:
20.03.2024
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Delhi chief secretary sacks tax official for fake GST refund orders.
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Naresh Kumar dismissed a tax official for issuing Rs 14 crore illegal refund orders. The officer faces loss of benefits and job opportunities due to misconduct in approving refunds and allowing firm migrations without verification.
NEW DELHI: Chief secretary Naresh Kumar on Tuesday dismissed a tax official for allegedly issuing illegal refund orders worth Rs 14 crore in 2021.
A Goods & Services Tax Officer (GSTO) with the trade and taxes department of Delhi govt, the official was accused of "gross misconduct" between July 26 and Oct 13, 2021. Officials said the accused tax officer will not only lose all pensionary benefits, he will also be disqualified from future employment in any govt office or agency.
According to the order, the official issued 122 refund orders worth nearly Rs. 9.7 crore in just two months without verifying the credentials of
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20.03.2024
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GST deputy commissioner Dhanendra Kumar Pandey arrested in Lucknow.
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Dhanendra Kumar Pandey suspended for taking Rs 2 lakh bribe. Ardam Data Services Pvt. Ltd. sought Rs 20 lakh refund. Export operations involved. Arrested at Commercial Tax Office, facing corruption act charges at Vigilance Police Station, Lucknow Sector.
LUCKNOW: A Deputy Commissioner of Goods and Services Tax (GST) was caught by Vigilance Establishment red-handed taking a bribe of Rs 2 lakh in exchange for processing a private company's GST refund on Tuesday. The accused arrested was identified as Dhanendra Kumar Pandey. He was posted as Deputy Commissioner (GST) at Zone 20 and has been suspended with immediate effect.
Giving details in the case, Superintendent of police, Vigilance HQ, Lucknow, headquarters, Arvind Chaturvedi, said that upon investigation, it was revealed that the company, Ardam Data Services Pvt. Ltd., had legitimately claimed a refund of approximately Rs 20 lakh based on GST incurred
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01.03.2024
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How a Customs inspector was transferred to derail a probe into gold smuggling at Kochi airport parking lot.
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Kochi: A major gold smuggling investigation in Kerala has been scuttled following the transfer of a Customs inspector who was on the heels of a racket that operated out of the parking area of Kochi Airport at Nedumbassery.
Incidentally, the inspector, whose mission has been cut short, was part of several major gold smuggling investigations in Kerala, including the infamous Thiruvananthapuram Airport case involving Swapna Suresh and another involving gangster Arjun Ayanki.
The Customs team comprising the now-transferred inspector busted around 83 kilograms of gold valued at approximately Rs 40 crore in two years from the Nedumbassery Airport. The majority of the gold bust happened in the vast parking area of the airport capable of accommodating 2,800 vehicles at a time.
It is understood that the carriers who managed to sneak out of the airport would get out
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01.03.2024
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Rs. 1,68,337 crore gross GST revenue collected during February 2024; records Year-on-Year (Y-o-Y) growth of 12.5%.
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Average monthly gross collection for FY2023-24 is Rs. 1.67 lakh crore, exceeding Rs. 1.5 lakh crore for FY2022-23
Gross GST collection reaches Rs. 18.40 lakh crore for FY2023-24, grows 11.7% Y-o-Y
Net revenue at Rs. 1.51 lakh crore is up 13.6% for the month and up by 13% for the year at Rs. 16.36 lakh crore
Gross Goods and Services Tax (GST) revenue collected for February 2024 is Rs. 1,68,337 crore, marking a robust 12.5% increase compared to that in the same month in 2023. This growth was driven by a 13.9% rise in GST from domestic transactions and 8.5% increase in GST from import of goods. GST revenue net of refunds for February 2024 is Rs. 1.51 lakh crore which is a growth of 13.6%
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27.02.2024
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Noida police arrest prime suspect in Rs. 10,000 crore GST fraud.
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The suspect has been identified as Vikas Dabas, a resident of Mubarikpur in Delhi, said Shakti Avasthy, deputy commissioner of police (crime) who is leading the investigation into the case.
A 29-year-old man was arrested on Monday for his alleged involvement in Rs. 10,000-crore GST (goods and services tax) fraud that involved registering thousands of bogus firms using stolen or fake identities, and using them to raise e-way bills and avail of input tax credit (ITC) from the government, the Noida police said on Tuesday.
Last June, the Noida police uncovered the alleged scam with the arrest of eight suspects and seized a list of over 3,000 bogus companies, registered on the basis of fake PAN card details, said police officers.
These fake companies were then used to generate e-way bills (GST related receipts for transporting consignments), officials
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01.02.2024
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Rs. 1,72,129 crore gross GST revenue collected during January 2024; records 10.4% Year-on-Year growth.
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At Rs. 1,72,129 crore, GST collections are 2nd highest ever; crosses Rs. 1.70 lakh crore mark for the third time in FY 2023-24
With overall collection reaching Rs. 16.69 lakh crore, GST collections register 11.6% Y-o-Y growth in 10-month period
The gross GST revenue collected in the month of January, 2024 (till 05:00 PM of 31.01.2024) is Rs. 1,72,129 crore, which shows a 10.4% Year-o-Year (Y-oY) growth over the revenue of Rs. 155,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023).
Notably, this is the second highest monthly collection ever and marks the third month in this financial year with collection of Rs. 1.70 lakh crore or more. The government has settled Rs. 43,552 crore to CGST and Rs. 37,257 crore to SGST from the IGST collection.
During the April 2023-January 2024
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01.01.2024
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Posting a growth rate of 12% Y-o-Y, Rs. 14.97 lakh crore gross GST collection during April-December 2023 period.
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Gross GST collection averages Rs. 1.66 lakh crore in first 9 months of FY24
Rs. 1,64,882 crore gross GST revenue collection for December, 2023
During the April-December 2023 period, gross GST collection witnessed a robust 12% y-o-y growth, reaching Rs. 14.97 lakh crore, as against Rs. 13.40 lakh crore collected in the same period of the previous year (April-December 2022).
The average monthly gross GST collection of Rs. 1.66 lakh crore in the first 9-month period this year represents a 12% increase compared to the Rs. 1.49 lakh crore average recorded in the corresponding period of FY23.
The gross GST revenue collected in the month of December, 2023 is Rs. 1,64,882 crore out of which CGST is Rs. 30,443 crore, SGST is Rs. 37,935 crore, IGST is Rs. 84,255 crore (including
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III. E-Version of Goods and Services Tax (GST) Fliers
IV. FAQ - Frequently Asked Questions on Goods and Services Tax (GST)
V. Goods and Services Tax in India - Overview
VI. Goods and Services Tax in India - Migration
VII. Dr. Hasmukh Adhia, Revenue Secretary, GOI on GST
VIII. Goods and Services Tax in India - Background
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FAQ - Frequently Asked Questions on Goods and Services Tax (GST)
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Model Acts for Goods and Services Tax (GST) (June, 2016)
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Report on Revenue Neutral Rates and Structure of Rates for the Goods and Services Tax (December, 2015)
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Report of Joint Committee on Business Process on Return (October, 2015)
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Report of Joint Committee on Business Process on Refund (August, 2015)
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Constitutional 122nd Amendment Bill 2011 - Select Committee Report (July, 2015)
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Report of Joint Committee on Business Process on Registration (July, 2015)
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Goods and Services Tax (GST) - Concept & Status (May, 2015)
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Report of Joint Committee on Business Process on Payment (April, 2015)
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Constitutional 122nd Amendment Bill 2014 - As Introduced in the Lok Sabha
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Constitutional 115th Amendment Bill 2011 - Standing Committee Report (August, 2013)
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Constitutional 115th Amendment Bill 2011 - As Introduced in the Lok Sabha
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Constitutional 115th Amendment Bill 2011
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Moving to Goods and Services Tax: Impact on Growth and International Trade - NCAER (December, 2009)
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Report of the Task Force on Goods and Services Tax (GST) (December, 2009)
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Comments of the Department of Revenue on the First Discussion Paper
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Goods and Services Tax (GST) - First Discussion Paper (November, 2009)
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Taxation of Services Based on a Negative List of Services - Revised Concept Paper for Public Debate
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Taxation of Services Based on a Negative List of Services - Concept Paper for Public Debate
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