Goods and Services Tax - Page 4

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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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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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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Key takeaways of 12th GST Council meeting

GST Council approves the Draft of SGST and UTGST Bills-Clearing the decks for introduction of a major indirect tax reform in the Parliament, the Goods and Services Tax (GST) Council, in its 12th meeting held on March 16, 2017, has approved the Draft Bills for implementing GST in States and Union Territories (UTs)....

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PAN mismatch during GST migration- Problems & Solutions

Since enrolment application went live,of many issues,one particular issue that has been reported in significant numbers was pertaining to PAN validation of taxpayers,required to be done after the application is submitted with either e-signature or DSC.GSTN has investigated many such issues and have taken certain steps to help tax payers m...

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ITC reversed under mistaken impression – Remedy

It is well settled law that PAYMENT UNDER MISTAKE OF LAW — MISTAKE DISCOVERED ON NOTICING HIGH COURT DECISION — REFUND IS ALLOWED ...

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Maintenance of Accounts and other Record in GST Law

No specific list of accounts or record has been prescribed in Section 53 of GST Law. It only talked about the true and correct accounts of production or manufacture of goods, inward and outward supply of goods and /or services, accounts of stock of goods, record of input credit availed and output tax payable or paid. ...

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Decoding GST # 2- Seamless GST Credit not so seamless afterall

It is a second article in the series dealing with the issues of input tax credit. GST is expected to allow seamless flow of input tax credit to the registered taxable person, but taking into consideration the provisions of Revised Model Goods and Service Tax Law (hereinafter referred to as RMGL), it still looks like a distant dream for as...

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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 and C-II135 as tractor parts read with Ent...

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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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