Goods and Services Tax

GST Transition of ITC on goods taxable at first stage under VAT

Advocate Amit Bajaj The most important and the very first step towards GST is the transition provisions under GST law. The transition provisions with regard to input tax credit are very important. In this article I concentrate on how the credit of taxes paid on the goods taxable at first stage especially under Punjab VAT […]...

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Accounts and Records under Goods and Services Tax (GST)

1. Maintenance of accounts by Registered Persons (RP):-a) TRUE AND CORRECT accounts of the goods or services supplied or imported or exported or supplies attract tax on reverse charge along with relevant documents like:...

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Invoicing under Goods and Services Tax law

Invoice plays an important role in any taxation system and GST regime is no exception. It determines value of supply (goods or services), rate of tax, type of tax to be charged (Central GST, State GST, Integrated GST or Interstate GST), tax amount and so on....

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GST Special: Major differences Between Service Tax and GST

The Government is trying its best to bring into effect the GST Law on 1st July 2017. Seeing at the close encounters during the current IPL, tell me what will happen if a match is to be played between GST and Service tax?...

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Tax Invoice under GST

Invoice in simple terms is nothing but a document specifying list of goods sent or services provided and a statement of the sum due against those items. Invoice is often understood as ‘proof of sale’ but this common understanding is far from the truth....

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Accounts and Records – Draft GST Rules

ACCOUNTS AND RECORDS - 1. Maintenance of accounts by registered persons- (1) Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of section 35, a true and correct account of the goods or services imported or exported or of supplies attracting payment of tax on reverse charge along w...

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Advance Ruling – Draft GST Rules

Advance Ruling -1. Qualification and appointment of members of the Authority for Advance Ruling. The Central Government and the State Government shall appoint an officer having the experience of not less than three years in the rank of Joint Commissioner as member of the Authority for Advance Ruling....

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Appeals and Revision – Draft GST Rules

An appeal to the Appellate Authority under sub-section (1) of section 107 of the Act shall be filed in FORM GST APL-01, [either] electronically [or otherwise] as may be notified by the Commissioner, and a provisional acknowledgement shall be issued to the appellant immediately....

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Invitation to Join Certification Course on GST by MSME

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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E-commerce term may be misinterpreted in GST

The scope of the e-commerce definition as given in the Goods and Services dispensation has been left so wide that it could go well beyond Amazon or Flipkart marketplace platforms and may even cover the commodity exchanges, ...

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UP VAT Registration cannot be denied for mere wrong Input Tax Credit claim

Sevak Enterprises Vs Commissioner, Commercial Tax (Allahabad High Court) - Justice Ashwani Kumar Mishra of Allahabad High Court held that, wrongful claim of Input Tax Credit (ITC) would not constitute sufficient ground for cancellation of registration of a dealer under UP Value Added Tax Act....

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Reopening for mere Mismatch Found with Dept Website not valid

M/s. JKM Graphics Solutions Private Limited Vs The Commercial Tax Officer (Madras High Court) - The respective Assessing Officers, either by themselves or on instructions from the Enforcement Wing officials have stated that there is mismatch of the details, disclosed in the returns compared with the details available with the Department....

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4% KVAT applicable on Iron and Steel used in construction of building

The State of Karnataka v/s M/s. Sai Sudheer Constructions (High Court of Karnataka) - Iron and Steel purchased by the respondent - assessee and used in the execution of the civil works contracts of the construction of the buildings, remains Iron and Steel as declared goods under the provisions of Section 14 of the Central Sales Tax Act, 1956 and therefore are taxable only at the conc...

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No penalty u/s Sec. 51 of PVAT for non-generation of E-ICC information

M/s Katyal and Co. Vs The State of Punjab (Punjab VAT Tribunal) - In the present case the goods were detained by the officers of Mobile Wing Fazilka and penalty was imposed for non generation of e-ICC. The appellant in the appeal contended that the server of the department was non functioning properly and in the given circumstances the appellant was left with no a...

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LLPs to follow law relevant to Partnership Firms for KVAT Registration

M/s. Hannah career excellence LLP Vs the commercial tax officer (Kerala High Court at Ernakulam) - The petitioner is aggrieved with the fact that Ext.P6 communication has been issued to the petitioner under the Limited Liability Partnership Act, 2008 (for brevity the LLP Act), which according to the petitioner, they are not obliged to comply with....

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GST Migration Completion Status- Central Excise 73%, Service Tax 34%

DO.No.05/CH(EC)/2017 - (21/04/2017) - Coming to the status of migration, as on date 73% of the existing Central Excise registrants and 34% of the existing Service Tax registrants have migrated. We are fast approaching the last date for completion of migration i.e. 30.04.2017. I urge all zonal Chief Commissioners to take necessary steps ...

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MVAT: Change in Rate of VAT on Motor Spirit wef 22.04.2017

Notification No. VAT.1517/C.R.44/Taxation-1 - (21/04/2017) - Rate of VAT in Maharashtra on Any other kind of Motor Spirit (a) When delivered, (i) to a retail trader for trading from place of business situated within the geographical limits of the Municipal Corporations of the Brihan Mumbai, Thane, Navi Mumbai and within such other areas for such period as may...

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Budget 2017: Amendments in Tax Laws in Maharashtra

Trade Cir No. 11T of 2017 - (20/04/2017) - The Acts and Rules, which are amended, vide budget 2017-18 in Maharashtra are as follows: 1. The Maharashtra Purchase Tax on Sugarcane Act, 1962(SCPT Act); 2. The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (PT Act); 3. The Maharashtra Value Added Tax Act, 2002 (...

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Amendments to MVAT Act, SCPT Act, PT Act, ET Rules in Maharashtra

Maharashtra Act No. XXXI OF 2017 - (15/04/2017) - In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2017 (Mah. Act No. XXXI of 2017), is hereby published under the authority of the Governor....

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Taxation of liquor-Notification u/s 41(5) of MVAT Act- Corrigendum

Notification No. VAT-1517/CR-28/Taxn-1 - (06/04/2017) - Taxation of liquor–Notification u/s 41(5) of MVAT Act- corrigendum Notification No. VAT-1517/CR-28/Taxn-1 dated 6-4-2017...

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Recent Posts in "Goods and Services Tax"

GST Transition of ITC on goods taxable at first stage under VAT

Advocate Amit Bajaj The most important and the very first step towards GST is the transition provisions under GST law. The transition provisions with regard to input tax credit are very important. In this article I concentrate on how the credit of taxes paid on the goods taxable at first stage especially under Punjab VAT […]...

Read More

Accounts and Records under Goods and Services Tax (GST)

1. Maintenance of accounts by Registered Persons (RP):-a) TRUE AND CORRECT accounts of the goods or services supplied or imported or exported or supplies attract tax on reverse charge along with relevant documents like:...

Read More

Invoicing under Goods and Services Tax law

Invoice plays an important role in any taxation system and GST regime is no exception. It determines value of supply (goods or services), rate of tax, type of tax to be charged (Central GST, State GST, Integrated GST or Interstate GST), tax amount and so on....

Read More

GST Special: Major differences Between Service Tax and GST

The Government is trying its best to bring into effect the GST Law on 1st July 2017. Seeing at the close encounters during the current IPL, tell me what will happen if a match is to be played between GST and Service tax?...

Read More

UP VAT Registration cannot be denied for mere wrong Input Tax Credit claim

Sevak Enterprises Vs Commissioner, Commercial Tax (Allahabad High Court)

Justice Ashwani Kumar Mishra of Allahabad High Court held that, wrongful claim of Input Tax Credit (ITC) would not constitute sufficient ground for cancellation of registration of a dealer under UP Value Added Tax Act....

Read More

GST Migration Completion Status- Central Excise 73%, Service Tax 34%

DO.No.05/CH(EC)/2017 (21/04/2017)

Coming to the status of migration, as on date 73% of the existing Central Excise registrants and 34% of the existing Service Tax registrants have migrated. We are fast approaching the last date for completion of migration i.e. 30.04.2017. I urge all zonal Chief Commissioners to take necessary steps to assist all existing taxpayers in thei...

Read More

MVAT: Change in Rate of VAT on Motor Spirit wef 22.04.2017

Notification No. VAT.1517/C.R.44/Taxation-1 (21/04/2017)

Rate of VAT in Maharashtra on Any other kind of Motor Spirit (a) When delivered, (i) to a retail trader for trading from place of business situated within the geographical limits of the Municipal Corporations of the Brihan Mumbai, Thane, Navi Mumbai and within such other areas for such period as may be notified by the State Government in ...

Read More

Tax Invoice under GST

Invoice in simple terms is nothing but a document specifying list of goods sent or services provided and a statement of the sum due against those items. Invoice is often understood as ‘proof of sale’ but this common understanding is far from the truth....

Read More

Impact of GST on Hotel/ Restaurant sector

As we all know The Goods and Service Tax (GST) bill was passed in the Upper House of the Indian Parliament – The Rajya Sabha. To be implemented from 01st July 2017, A one nation one tax slogan which will replace the plethora of taxes levied under different names like service tax, value added tax (VAT), entertainment tax, cess etc....

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All about Composition Scheme under GST Law

Composition Scheme under GST, a taxpayer is required to file one summarized return on quarterly basis, instead of three monthly returns as applicable for normal businesses....

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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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