India GST e-way bill launch deferred

February 12th, 2018

India has postponed its mandatory e-way bill implementation, and extended the trail process due to technical issues associated with the huge volume of submissions at the 1 February launch. E-way bills are online submissions required to provide details of any cross-state delivery of goods within India. There are 29 states in India. They are required to …


India GST flaws may force early reform

February 11th, 2018

The Indian Goods and Services Tax Council may in early March consider simplifying the new, complex Goods and Services Tax (GST) filing requirements in the face of IT difficulties. GST was introduced to India in July 2017, replacing a labyrinth of complex and overlapping indirect taxes. Its aim was to reduce compliance, tax fraud and …


India relaxes GST reporting

February 5th, 2018

India last month temporarily relaxed the reporting requirements under the new Goods and Services regime: ·  The monthly summary return in Form GSTR 3B is extended to March 2018 for all taxpayers. ·  Due dates for filing returns in Forms GSTR – 1, GSTR – 4 and GSTR – 5, GSTR – 5A and GSTR …


India GST E-way bill goes live

February 1st, 2018

India has imposed from 1 February 2018 the requirement for an approved e-way bill for all cross-state transport of goods.  There is a threshold of INR 50,000. The new electronic record of the details and values of goods being moved between any two of the 29 Indian states is aimed at reducing errors and potential GST …


India considers 18% GST on bitcoin

January 8th, 2018

India has started at the end of last year reviewing the tax and GST implications for cryptocurrencies such as bitcoin. This includes the Income Tax Department reviewing the activities of several bitcoin exchanges. A number of exchanges have since applied from the Authority for Advance Rulings body for clarification of the indirect liabilities of their …


India GST blockers lead to 14% tax drop

January 3rd, 2018

Following the introduction of Goods and Services Tax in India on 1 July 2017, the government is still delayed in being able to capitalise on the new audit features of the tax. Since the launch of the tax replacing VAT, Service Tax and many other consumption taxes, tax revenues have started to fall off. Monthly …


India GST inter-state e-way bill Feb 2018

December 27th, 2017

India will make electronic-way bills compulsory on the intra-state movement of goods from 1 February 2018. E-way bills record the movement of goods across Indian state lines, and are recorded on the centralised Goods and Services Network portal. It is the responsibility of the supplier and transporter to lodge details of any movement above Rs50,000, …


India GST rate cut plans

November 4th, 2017

India is considering removing many daily essential goods form the top Goods & Services Tax (GST) band of 28%. GST was launched in India on 1 July 2017, replacing many overlapping consumption taxes including VAT, CENVAT and Service Tax.  Whilst there remain many issues with the new indirect tax, including the reconciliation process between purchase …


India e-commerce GST collected at source Apr 2018

October 1st, 2017

India e-commerce platforms will be required to withhold 1% GST of the taxable value of supplies at source on payments to vendors and suppliers from 1 April 2018.  The provision will apply to payments about RS 2.5 lakh.  Platforms withholding the tax will be required to remit it to the government and file a GSTR-8 …