Goods and Services Tax

GST Simplified Series#1

We are pleased to share that we have launched Series GST Simplified wherein we would attempt to explain nitty-gritty of GST in most lucid manner through write-ups, presentations and videos....

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Impact of GST on Banking Sector

As per Model Law, banks having branches in multiple States and Union Territories (UTs) will be required to register in each such State and UT....

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Buying a car? Find out how GST affects you

Looks like prospective car buyers are going to have to consider more factors than just make and model or gas mileage before investing in a car once the Goods and Services Tax is implemented this year. Experts are of the opinion that one of the major beneficiaries of the one country, one tax rule will be the domestic automobile sector in I...

Read More

VAT on E-Commerce Transactions

E-Commerce is growing fast, or dying slow…!! Today everyone is slowly and gradually coming up online to buy & sell. We as professionals need to add value to our client business by educating them and allowing them to comply with applicable laws effectively & efficiently....

Read More

Flow of Returns for all Kinds of Taxpayers under GST

There has been a massive evolution in the process of filing returns under GST when compared to the returns under the present laws. The requirement of robust technology for filling up data in the returns is one of the key reasons behind this. ...

Read More

Amendment in Custom / Excise to facilitate GST & abolish cesses & surcharges

Cabinet approves Amendment of in the Customs and Excise Act, relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime...

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Goods and Services Tax Act to help in reducing prices of various items

For FDI, India is most preferred destination in the world today; independence i.e. Goods and Services Tax Act to help in reducing prices of various items...

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Union Cabinet approves four GST Bills

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approves the four Goods and Services Tax (GST) related bills today The GST law will be the biggest reform in the area of Indirect Taxes in the history of independent India The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved […]...

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Waiver of Late Fee for late filing of VAT, CST, PT & Luxry Tax returns

Waiver of Late Fee for late filing of VAT and CST returns in Maharashtra The Trade has represented that many technical difficulties are being faced by them while filing their returns and therefore the late fees for delayed filing of returns should be waived. The issue was examined and in order to provide relief to […]...

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Invitation to Join Certification Course on GST (Impact, Planning & Implementation) by Ministry of MSME, Govt. of India

With immense pleasure, we would like to invite the readers for the certification course on GST by Ministry of Micro, Small & Medium Enterprises (MSME), Govt. of India, specially designed to cater the need of professionals and businesses at large....

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No Reopening of Assessment on the basis of mere Audit Objection: SC

M/s Larsen & Toubro Ltd. Vs State of Jharkhand and Ors. (Supreme Court of India) - The present appeal has been filed against the final judgment and order dated 17.11.2006 passed by the Division Bench of the High Court of Jharkhand at Ranchi in W.P. (T) No. 2630 of 2006 whereby the High Court dismissed the petition filed by M/s Larsen & Toubro Ltd.-the appellant –Company while up...

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KVAT: Discounts received via Credit Notes are Part of Sales Turnover

M/s Vettathil Agencies, Vs Commercial Tax Officer (Kerala High Court) - This writ petition is filed challenging Exts.P5 and P5(a) assessment orders under KVAT Act, 2003 for the assessment years 2009-10 and 2010-11 completed under Section 25(1) of the Act. Though the impugned orders are appealable, according to the petitioner...

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Assessee need not continue compounding scheme till completion of work under KVAT Act

KNR Construction Ltd. Vs Commercial Tax Officer (Works Contract) (Kerala High Court) - HC held that The mere fact that petitioner's work, which commenced in previous year, had been compounded for that year would not require continuance under the scheme in subsequent year, for reason of there being no provision available requiring such a continuance....

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Can GST implementation end Tax Terrorism by State Revenue officials?

Flipkart India Pvt. Ltd Vs State of U.P. & Others (Allahabad High Court) - It clearly shows that State VAT department has literally plundered most of the assets of a company without any legal justification. Now, these commercial tax officials would also be part of GST machinery....

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VAT on Tractors: General Entry cannot override specific Entry

M/s Kirloskar Oil Engines Ltd. Vs The Commissioner of Sales Tax (Bombay High Court) - In this case on the applicability of VAT Rate under Bombay Sales Tax Act, 1959 it was held by Bombay High Court that Tribunal was justified in holding that the bearings sold by the Applicant were covered by Entry C-II-146 of the Bombay Sales Tax Act, 1959 and not by Entry C-II102(2) as auto parts an...

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DVAT 3rd quarter of 2016-17 Return Filing due date extended to 31/03/2017

Circular No. 28 of 2016-17 - (17/03/2017) - Commissioner, Value Added Tax, Delhi extends the last date of filing of online/hard copy of third quarter return for the year 2016-17, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 31.03.2017....

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Maharashtra VAT Launches 3 New Online Facilities for dealers

Trade Cirular No. 8T of 2017 - (16/03/2017) - 1. Facility to view draft return before submitting the returns under the MVAT and the CST Act 2. Facility to upload application of refund for the periods from 01 April 2016 onwards 3. Facility to upload application to obtain the e CST declarations for the dealers registered after 25 May 2016...

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Delhi VAT: De-sealing of Business Premises during Survey

Circular No. 27 of 2016-17 - (08/03/2017) - If the Dealer concerned whose business premise has been sealed does not turn up for de-sealing of the same within a reasonable time, then he should be intimated through a notice, at his last known address, regarding De-sealing process to be undertaken....

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Extension of Due date to activate account on GST Portal for Maharashtra VAT Dealers

Trade Circular No. 7T of 2017 - (08/03/2017) - Many communications have been received from the trade for the extension of dates, as some of them have faced difficulties while obtaining Provisional Ids or activating their accounts on GST Portal. So, as per the communication received from GSTN, and as per request from the Trade, the date for disab...

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DVAT 3rd quarter of 2016-17 Online Return Filing due date extended to 17/03/2017

Circular No. 26 of 2016-17 - (08/03/2017) - Delhi Value Added Tax Rules, 2005, I, H. Rajesh Prasad, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of third quarter return for the year 2016-17, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexure/enclosures to 17.03.2017....

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Recent Posts in "Goods and Services Tax"

No Reopening of Assessment on the basis of mere Audit Objection: SC

M/s Larsen & Toubro Ltd. Vs State of Jharkhand and Ors. (Supreme Court of India)

The present appeal has been filed against the final judgment and order dated 17.11.2006 passed by the Division Bench of the High Court of Jharkhand at Ranchi in W.P. (T) No. 2630 of 2006 whereby the High Court dismissed the petition filed by M/s Larsen & Toubro Ltd.-the appellant –Company while upholding the order dated 27.02.2006 passe...

Read More

GST Simplified Series#1

We are pleased to share that we have launched Series GST Simplified wherein we would attempt to explain nitty-gritty of GST in most lucid manner through write-ups, presentations and videos....

Read More

Impact of GST on Banking Sector

As per Model Law, banks having branches in multiple States and Union Territories (UTs) will be required to register in each such State and UT....

Read More

Amendment in Custom / Excise to facilitate GST & abolish cesses & surcharges

Cabinet approves Amendment of in the Customs and Excise Act, relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime...

Read More

KVAT: Discounts received via Credit Notes are Part of Sales Turnover

M/s Vettathil Agencies, Vs Commercial Tax Officer (Kerala High Court)

This writ petition is filed challenging Exts.P5 and P5(a) assessment orders under KVAT Act, 2003 for the assessment years 2009-10 and 2010-11 completed under Section 25(1) of the Act. Though the impugned orders are appealable, according to the petitioner...

Read More

Buying a car? Find out how GST affects you

Looks like prospective car buyers are going to have to consider more factors than just make and model or gas mileage before investing in a car once the Goods and Services Tax is implemented this year. Experts are of the opinion that one of the major beneficiaries of the one country, one tax rule will be the domestic automobile sector in I...

Read More

VAT on E-Commerce Transactions

E-Commerce is growing fast, or dying slow…!! Today everyone is slowly and gradually coming up online to buy & sell. We as professionals need to add value to our client business by educating them and allowing them to comply with applicable laws effectively & efficiently....

Read More

Flow of Returns for all Kinds of Taxpayers under GST

There has been a massive evolution in the process of filing returns under GST when compared to the returns under the present laws. The requirement of robust technology for filling up data in the returns is one of the key reasons behind this. ...

Read More

Goods and Services Tax Act to help in reducing prices of various items

For FDI, India is most preferred destination in the world today; independence i.e. Goods and Services Tax Act to help in reducing prices of various items...

Read More

Maintenance of Accounts, Records and Auditing Revised Model GST Law

Maintenance of accounts and records has always been a redundant topic in every law. So, be it Income tax act, 1961, Companies Act, 2013, Central Excise Act, 1944, State VAT laws. Each law contains provisions for up keeping of accounts and records....

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.

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