This Chapter deals with the different types of offences and the penalties leviable under GST law. The contents of this Chapter would aid the officers, especially while issuing Demand Notices/Show Cause Notices and Adjudication orders.
Understand the provisions of inspection, search, seizure, and arrest under the CGST Act. Learn about legal procedures, powers, and safeguards for tax compliance.
This chapter outlines the principles and policies of audits conducted under CGST Act, 2017 and rules made thereunder, viz., CGST Rules, 2017.
Government of India levies and collects duties and taxes from the taxpayers. However, in specified situations, if any amount, which is not due to the Government is paid by any person then the Government refunds the such amount to such person, on following the due process prescribed under the GST law.
Explore SEBI’s MF Lite Regulations consultation paper proposing relaxed rules for passively managed mutual fund schemes to boost innovation and market participation.
Explore SEBI’s latest circular (SEBI/HO/MRD/TPD-1/P/CIR/2024/92) directing Market Infrastructure Institutions (MIIs) to ensure transparency in charge structures. Effective from October 01, 2024.
While discharging the tax liability on the supplies, a supplier has to ensure proper compliance of the provisions related to classification of the supply of Goods and Services, applicable rate of tax, valuation of the supply, time of supply, place of supply, admissibility of exemption/concession granted by notification, if any, etc., so as to ensure proper payment of tax on such supplies.
GST law is a voluntary compliance-based taxation system. One of the key features of GST is its self-assessment system. The entire responsibility for assessment of tax liability has been entrusted upon with the taxable person or the Business entity in line and spirit of the GST laws.
In every taxation system the liability of tax payable by a person has to be determined and assessed. The GST law provides for various kinds of assessment. Self-assessment of the tax liability is one of them. Every registered taxable person is required to himself assess his liability of taxes payable and furnish a return for each tax period.
Registration is the process through which a supplier enters into the GST ecosystem. It is the most fundamental requirement of identify cation of the business for tax purposes and for monitoring compliance requirements.
