Connect with us

National

GST On Zomato, Swiggy, Ola, Uber From Today As Government Widens Tax Base – dot newz

Published

on

[ad_1]

Food Apps like Swiggy, Zomato, taxi apps like Ola, Uber will have to collect and deposit GST

New Delhi:

Food aggregators like Swiggy and Zomato will have to collect and deposit tax at 5 per cent rate starting today, a move which will widen the tax base as food vendors who are currently outside the GST threshold will become liable to GST when provided through these online platforms.

Currently, restaurants registered under GST are collecting and depositing the tax.

Also, cab aggregators like Ola and Uber will have to collect 5 per cent Goods and Services Tax (GST) for booking 2 and 3 wheeler vehicles effective January 1. Also, footwear irrespective of prices will attract 12 per cent tax from today.

These are among the many changes in the GST regime that have come into effect in this new year 2022.

Also to tackle evasion, the GST law has been amended to state that the input tax credit will now be available only once the credit is appearing in GSTR 2B (purchase return) of the tax payer. Five per cent provisional credit, earlier allowed in GST rules, will not be permitted post January 1, 2022.

EY India Tax Partner Bipin Sapra said “this change will have an immediate impact on working capital of tax payers who are currently availing credit of 105 per cent of matched credit. The change will also mandate industry to validate that the procurements are made from genuine and compliant vendors.”

The other anti-evasion measures which would come into effect from the new year include mandatory Aadhaar authentication for claiming GST refund, blocking of the facility of GSTR-1 filing in cases where the business has not paid taxes and filed GSTR-3B in the immediate previous month.

Currently, the law restricts filing of return for outward supplies or GSTR-1 in case a business fails to file GSTR-3B of preceding two months.

While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B, through which businesses pay taxes, is filed in a staggered manner between 20th-24th day of the succeeding month.

Also, the GST law has been amended to allow GST officers to visit premises to recover tax dues without any prior show-cause notice, in cases where taxes paid in GSTR-3B is lower based on suppressed sales volume, as compared to supply details given in GSTR-1.

Mr Sapra said while the amendment is likely to curb the malpractice of passing of input tax credit through declaring in GSTR-1 without paying taxes in GSTR 3B, genuine differences in GSTR-1 and GSTR 3B like carry forward of unadjusted credit notes are likely to face unnecessary scrutiny.

The move is intended to curb the menace of fake billing whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability.

Nexdigm Executive Director (Indirect Tax) Saket Patawari said e-commerce operators are now liable to pay GST in place of the the restaurants and the tax base of Government may increase due to above as these operator will be liable to GST even for unregistered restaurants “E-com operators may be asked to obtain registration in each State where restaurants are located even if they don’t have presence and undertake all the regular GST compliances even if they don’t have any infrastructure in the State. It may become a challenge to handle audits and investigations in all the states esp. for start ups and new E-com operators,” Mr Patawari added.

Mr Sapra further said that this amendment will also widen the tax base as food vendors who are currently outside the GST threshold will become liable to GST when provided through these online platforms. Thus, making procurement from these platforms more costlier.

“Given that restaurants sometimes supply goods along with restaurant services, an invoice may have multiple payments by multiple people and hence would involve complexity of operations. This practice of laying burden on E-Commerce operators for supplies made through them is putting additional burden on a platform which is just facilitating the supply,” Mr Sapra added.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

[ad_2]

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Shiv Sena, NCP To Contest Goa Assembly Elections Together – dot newz

Published

on

By

[ad_1]

Mumbai:

Shiv Sena and the Nationalist Congress Party (NCP) have decided to contest the upcoming Goa Assembly elections together in alliance, Shiv Sena leader and MP Sanjay Raut said on Sunday.

Speaking to ANI, Raut said, “Shiv Sena and NCP will contest together in Goa assembly elections. There will be a discussion on seat sharing on January 18. NCP’s senior leader Praful Patel will discuss seat-sharing formula in Goa on January 18. Only after that, it will be clear who will contest on how many seats.”

“Political dynamics are different in Maharashtra and Goa. NCP, Shiv Sena, Congress are in alliance in Maharashtra. However, at the moment Congress has decided to contest alone without forming an alliance with any other party in the state,” he said.

Goa elections are set to be held in a single phase on February 14. The counting of votes will be held on March 10.

In view of the Uttar Pradesh Assembly elections, Shiv Sena leader did not comment much on Chief Minister Yogi Adityanath’s decision to contest from Gorakhpur.

“I will not make any comment on Yogi ji’s decision to contest from Gorakhpur. He has been fielded from his native constituency. So, it is a good thing. I have heard that Aparna Yadav is going to join BJP. It’s good to know,” he said.

Yadav is the daughter in law of Samajwadi Party leader Mulayam Singh Yadav.

Meanwhile, elections for the 403 assembly constituencies in Uttar Pradesh will be held in seven phases starting February 10, the Election Commission said. The polling in Uttar Pradesh will be held on February 10, 14, 20, 23, 27 and March 3 and 7 in seven phases.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

[ad_2]

Source link

Continue Reading

National

“India Feels Proud”: PM Modi On 1 Year Of Vaccination Drive – dot newz

Published

on

By

[ad_1]

Prime Minister Narendra Modi said the vaccination drive added great strength to fight against Covid.

New Delhi:

Lauding India’s COVID-19 vaccination drive as it completes a year, Prime Minister Narendra Modi today said it has added great strength to the fight against the pandemic and has resulted in saving lives and protecting livelihoods.

When the pandemic first struck, not much was known about the virus. However, our scientists and innovators immersed themselves in developing vaccines, he said. India feels proud that our nation has been able to contribute to fighting the pandemic through vaccines, PM Modi tweeted.

“I salute each and every individual who is associated with the vaccination drive,” he said, adding that the role of our doctors, nurses and healthcare workers is exceptional.

“When we see glimpses of people being vaccinated in remote areas, or our healthcare workers taking the vaccines there, our hearts and minds are filled with pride,” he said.

The prime minister asserted that India’s approach to fighting the pandemic will always remain science based. Health infrastructure is also being augmented to ensure that fellow citizens get proper care, he said, asking people to keep following all COVID-19 related protocols.

The countrywide vaccination drive against COVID-19 on Sunday completed one year, during which over 156.76 crore vaccine doses were administered.

According to Health Ministry officials, over 92 per cent of the adult population have received at least one dose while over 68 per cent have been fully vaccinated. The Centre will issue a postal stamp this afternoon to mark the completion of one year of the inoculation drive.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



[ad_2]

Source link

Continue Reading

National

“We Invite You”: Maharashtra’s Red Carpet For Elon Musk After Telangana – dot newz

Published

on

By

[ad_1]

Elon Musk had said Tesla is “working through” a lot of challenges with the Indian government. (File)

New Delhi:

Another state has now invited US billionaire Elon Musk to invest after he said that electric car pioneer Tesla was “working through” a lot of challenges with the Indian government ahead of long-awaited plans to launch in the country.

After Telangana’s invitation earlier this week, a Maharashtra minister today offered Mr Musk a place to set up Tesla’s manufacturing plant in his state.

Maharashtra Water Resources Minister Jayant Patil, in a reply to Mr Musk’s tweet, said, “Maharashtra is one of the most progressive states in India. We will provide you all the necessary help from Maharashtra for you to get established in India.”

“We invite you to establish your manufacturing plant in Maharashtra,” the Nationalist Congress Party leader added.

Earlier, Telangana minister KT Rama Rao had invited the Tesla Inc’s chief executive to set shop in his state and said that his government will be “happy to partner Tesla in working through the challenges”.

Mr Musk, in response to a tweet asking him about a potential India launch date, had not identified the “challenges” being worked on with the government.

Tesla had plans to begin selling imported cars in India last year and has been lobbying the government to lower import duties, which can be as high as 100 percent, on electric vehicles before it enters the market.

Elon Musk had tweeted last July that Tesla wanted to enter India “but import duties are the highest in the world by far of any large country”.

Even as Tesla is holding out for a cut in import duties, luxury carmaker Mercedes-Benz will start assembling the electric version of its flagship S-Class sedan, the EQS, in India later this year.



[ad_2]

Source link

Continue Reading

Trending

Copyright © 2017 Dot Newz | Developed by MCVP Group 8