Goods and Services Tax

GST-Have you registered yet??

GST is a tax that would be levied on all supplies except those which are specifically exempted or come under non-taxable supplies. Therefore, all the suppliers who are supplying taxable supplies would be required to abide by GST provisions and with India going Digital all the GST procedures are going to be online....

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Impact of GST on Inter State & Imports Transactions of Goods

Revised Model GST Law has been released by GST Council Secretariat in the month of November, 2016. Whatever be the fate of GST in this Budget session, this is certain that Govt. needs to bring it by 15th Nov, 2017, otherwise we will be living in an Indirect Tax Free World....

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Definition of Business Vertical under Revised Model GST Law

Business vertical means a distinguishable component of an enterprise that is engaged in supplying an individual product or service or a group of related products or services and that is subject to risks and returns that are different from those of other business verticals;...

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GST Enrolment – HSN Codes- Exhaustive List

GST Enrolment – HSN Codes- Check Harmonized System of Nomenclature (HSN) Codes here for GST enrolment/registration purposes before applying for registration. ...

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Impact of GST on Automobile Dealers Industry

Introduction of GST shall be a breather for Automobile sector wherein taxes on vehicle are largely expected to be @ 18% in GST regime except for luxury cars where the rate may go upto 28% plus cesses....

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GST- Most of the issues been resolved: FM

Stressing the implementation of GST, FM says that most of the issues have been resolved; few critical issues are left which will be resolved in next few weeks....

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GST Helpline & Migration of ST/Excise Assessee by 31.01.2017

To ensure implementation of GST by 1st April, 2017, Central Board of Excise & Customs (CBEC) has initiated the process of migration of its existing Central Excise/Service Tax assessees to GST from today. A 24x7 Helpdesk (Through Toll-Free number and Email) started for the purpose. ...

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Guide to Revised Model GST Law with Draft Rules

We are pleased to announce release of our Handbook on Goods and Services Tax, titled, GUIDE TO REVISED MODEL GST LAW (With Draft Rules on Registration, Payment, Invoice, Returns and Refund) [3rd Edition]...

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Preview of Return and Payment Modules under GST

fter the successful launch of GST Portal (gst.gov.in) on 8th, Nov ’2016 the enrolment process of existing taxpayers was started on the same day. GSTN has created a prototype for various return forms...

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Central Registry for GST compliance by banks suggested

In case of GST, there is need for Central Registry for GST compliance by the banks which have branches on pan India basis....

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No disallowance of ITC for mere technical defect in VAT invoice – HC

M/s Avdesh Tracks Private Limited Vs. The State of Punjab and another (Punjab & Haryana High Court) - The Hon'ble Punjab & Haryana High Court in a crucial decision has held that input tax credit cannot be disallowed merely for a technical defect in the VAT Invoice such as non mentioning of words “Input Tax Credit is available to a person against this copy” as per Rule 54 of the Punjab VAT Rules,...

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Levy of Luxury tax on DTH operators while exempting cable operators is discriminatory

Bharati Telemedia Ltd. Vs Union of India , State of Kerala & others (Kerala High Court) - The Hon'ble Kerala HC in the above cited case held that exempting cable operators from luxury tax while making DTH operators to pay the same is a case of discriminatory levy of luxury tax merely because of technological differences in the system of deliveryof entertainment in both the services....

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No local VAT on goods purchased inter-state or in the course of import in works contracts-SC

Commissioner, Delhi Value Added Tax Vs M/s. ABB Ltd. (Supreme Court of Court) - The Hon’ble Supreme Court delivering very important judgment with regard to taxability of inter-state works contract. In the case of Commissioner, Delhi VAT vs ABB Ltd., it has been held that in case the goods are purchased from other States or are imported from outside the country...

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Vehicles sales concludes at a place where registration takes place

Commissioner of Commercial Taxes Vs M/s KTC Automobiles (Supreme Court of India) - It is been held that in case of motor vehicles the registration and sale is a co-terminus activity. Thus, the place of registration is deemed as place at which sale gets concluded. Accordingly, the sales tax has to be paid as per the law in force in the state/Union Territory at which sales so concl...

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Assessment time cannot be extended if it already becomes time barred: SC

State of Punjab & Ors. Vs M/S Shreyans Indus.Ltd. Etc. (Supreme Court of India) - Supreme Court, in State of Punjab Vs. M/s. Shreyans Indus Ltd., has held that power of the Sales Tax Commissioner to extend the time to pass an order on assessment is to be exercised before the normal period of assessment expires....

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Grant of Registration under DVAT and CST within one day

Circulars No. 20 of 2016-17 - (13/01/2017) - The applicant dealer, applying through DVAT M Sewa, would be granted registration preferably within 01 day, for which no VATI verification would be required....

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Maharashtra VAT Audit due dated extended to 9th February 2017

Trade Circular No. 3T of 2017 - (11/01/2017) - Section 61(1) of the Maharashtra Value Added Tax Act, 2002 provides that all eligible dealers shall submit the Audit Report in Form- 704. As provided under rule 17A (1) of the Maharashtra Value Added Tax Rules, 2005, this form is to be uploaded electronically....

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Migration of existing Excise / Service Tax Assessees to GST

F.No.IV(33)16/2016 –Systems - (06/01/2017) - Every Central Excise / Service Tax assessec having a valid PAN shall be granted registration under GST regime on a provisional basis. For such assessees, GSTN shall generate provisional IDs and communicate the same to the assessees through CBEC for migration to the GST regime. ...

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Clarification on GST enrolment of Existing MVAT Dealers in Maharashtra

Trade Circular No. 2T of 2017 - (06/01/2017) - In case of few dealers, in the Maharashtra Sales Tax Department's registration database, PAN is either invalid or Blank or have more than one TINs are generated on a single PAN. ...

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Full/Partial exemption of late fee under MVAT Act, for late returns

Trade Circular No.1T of 2017 - (02/01/2017) - A Registered MVAT Dealer, who uploads the pending returns for any period upto 31st March 2016, shall be eligible to take benefit of waiver of late fee, depending on the phase, in which he uploads his MVAT returns....

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Recent Posts in "Goods and Services Tax"

GST-Have you registered yet??

GST is a tax that would be levied on all supplies except those which are specifically exempted or come under non-taxable supplies. Therefore, all the suppliers who are supplying taxable supplies would be required to abide by GST provisions and with India going Digital all the GST procedures are going to be online....

Read More

Impact of GST on Inter State & Imports Transactions of Goods

Revised Model GST Law has been released by GST Council Secretariat in the month of November, 2016. Whatever be the fate of GST in this Budget session, this is certain that Govt. needs to bring it by 15th Nov, 2017, otherwise we will be living in an Indirect Tax Free World....

Read More

Definition of Business Vertical under Revised Model GST Law

Business vertical means a distinguishable component of an enterprise that is engaged in supplying an individual product or service or a group of related products or services and that is subject to risks and returns that are different from those of other business verticals;...

Read More

GST Enrolment – HSN Codes- Exhaustive List

GST Enrolment – HSN Codes- Check Harmonized System of Nomenclature (HSN) Codes here for GST enrolment/registration purposes before applying for registration. ...

Read More

Impact of GST on Automobile Dealers Industry

Introduction of GST shall be a breather for Automobile sector wherein taxes on vehicle are largely expected to be @ 18% in GST regime except for luxury cars where the rate may go upto 28% plus cesses....

Read More

GST and Electronic Commerce Operator

Model GST Act has made elaborate provisions for electronic commerce operator’. Here, ‘Operator’, indicates those people through which E-Commerce are operated....

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Deemed exports under Revised Model GST Law

Term ‘deemed exports’ is often referred in the context of Foreign Trade Policy but it is observed that the proposed GST regime seeks to provide definition of deemed exports separately....

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Implications of Just in time inventory under Revised GST Act.

Large OEM customers require their suppliers to supply material as and when required for their production. Majority of OEM customers have built into their contracts with supplier , where supplier is not based at their production location,...

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“What”, “Who” & “How” About GST Returns

Article explains what is GST Return, Type of GST Return, Who is required to file GST Return, How to File GST Return, How to revise GST Return, Due dates to file GST Return etc....

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GST in J&K – Under the light of Article 370

GST (Goods & Service Tax) is a dream evolving into reality. Model GST law has been released by Government of India in public domain in June 2016 as it would be applicable to whole of India. Our Magna-Carta, the Constitution of India, has been duly amended vide One Hundred and Twenty Second Constitution Amendment bill, 2014 w.e.f. 16 Septe...

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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.