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‘First return filing under GST progressing smoothly on last day’

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GST

New Delhi, Aug 25 : Unlike the technical snags faced by traders earlier, the first return filing under the Goods and Services Tax (GST) was progressing smoothly on Friday, the last day to file form GSTR-3B, tax accountants said.

August 25 is the last date for filing GSTR-3B form, which is a summary return of details of outward supplies, inward supplies, credit and payment of GST, for the month of July.

“Today, GSTR-3B filing is a smooth ride. The portal is working without technical snags. In a few cases, taxpayers have already uploaded their details and have informed that it is much faster,” chartered accountant Jigar Doshi, Partner, SKP Business Consulting, told IANS.

The government earlier had announced a five-day extension for filing GST returns till August 25, after the GST return filing portal had stopped functioning and traders across the country could not file returns due to a technical snag.

“The GST site is responsive and we hope it remains so during uploading of invoice level GSTR-1 filings. We hope to have similar snag-free experience in GSTR-1 filings,” Atul Bohra, Chief Financial Officer, Kolte Patil Developers, said.

Apart from GSTR 3B, three forms — GSTR 1, GSTR 2 and GSTR 3 — need to be filed by businesses. For the month of July, the three forms will have to be filed between September 1 and 5, September 6 and 10 and September 11 and 15, respectively.

Form GSTR 1 would reflect sales of a business, GSTR 2 would reflect purchases and GSTR 3 is a combination of sales and purchases.

For the month of August, the three forms will have to be filed between September 16-20, September 21-25 and September 26-30, respectively.

Pune-based chartered accountant Pritam Mahure, however, said that in a few cases, the GST payment was not appearing.

“Today is the last day for filing GSTR-3B and the site is working. However, in a few cases due to non-appearing of GST payment, taxpayers are unable to file returns. We hope the government quickly addresses these challenges by discussing with banks,” he said.

For those who want to avail transitional input tax credit, the deadline for filing GSTR-3B is August 28. The summary return for the month of August is to be filed by September 20.

IANS

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No lay-offs by Wipro amid crorona crisis, no such plan

The Bengaluru-headquartered IT behemoth employs more than 1.75 lakh people in several countries across the globe.

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Azim Premji Wipro

Bengaluru, July 13 : Global software major Wipro has not laid off any employee during the Covid-19 pandemic nor has any such plan at the moment, a top company official said on Monday.

“I just want to give comfort and say this categorically that we have not laid off a single employee as the pandemic unfolded,” Wipro Chairman Rishad Premji said at the company”s 74th annual general meeting (AGM) held virtually.

“At the moment, we have no plans to lay off anybody at the company,” he said, replying to a female shareholder.

“We are trying to drive cost deductions through various other means operationally and otherwise,” said Premji.

The Bengaluru-headquartered IT behemoth employs more than 1.75 lakh people in several countries across the globe.

–IANS

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Google to invest Rs 75,000 crore to boost digitisation in India

The investment will focus on four areas important to India’s digitisation– first enabling affordable access to information to every Indian in their own language.

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Sundar Pichai

New Delhi, July 13 : Google CEO Sundar Pichai on Monday announced a Google for India digitisation fund through which, the company will invest Rs 75,000 crore or approximately $10 billion over the next five to seven years to help India go digital.

“We will do this through a mix of equity investment, partnerships and an operational infrastructure ecosystem in India. This is a reflection of our confidence in the future of India and its digital economy,” Pichai said during the Google for India virtual conference.

The investment will focus on four areas important to India’s digitisation– first enabling affordable access to information to every Indian in their own language.

“Second, building new products and services that are deeply relevant to India”s unique needs. Third, empowering businesses to continue or embark on digital transformation. And fourth, leveraging technology and Artificial Intelligence for social good in areas like health, agriculture and education,” the Google CEO said.

India’s Union IT Minister Ravi Shankar Prasad were also present during the conference.

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Business partner of Rajasthan CM’s son under ED scanner

Sharma was summoned by the ED four days ago. The agency suspects that large scale overseas transactions have taken place.

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Ashok Gehlot

New Delhi, July 13 : Amid political crisis in Rajasthan, the Enforcement Directorate (ED) on Monday conducted raids at Hotel Fairmont in Jaipur.

Investor Ratan Kant Sharma, close aide of Chief Minister Ashok Gehlot’s son, is under the agency’s scanner.

Sharma had allegedly received around Rs 96.7 crore from Mauritius and has stakes in Hotel Fairmont. Sharma and Vaibhav Gehlot, son of Chief Minister Ashok Gehlot, are business partners.

Sharma was summoned by the ED four days ago. The agency suspects that large scale overseas transactions have taken place.

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