Govt. of India (GOI- both Central and State) has consistently from time to time in the past has announced various investment-based incentives to promote economy, industrialization, and wealth distribution in industrially backward states under the Article 34 (c) of the Constitution of India (COI).
Introduction In the recent times, it has been observed that CGST department has been issuing show-cause notices (SCN) in bulk mainly w.r.t FY 15-16 & 16-17 seeking to demand service tax on the differential amounts as determined based on the turnover/receipts disclosed in the ST 3 i.e., service tax returns and the receipts reported in […]
The Goods & Services Tax (GST) has just completed 4 years in operation. On this occasion, we take an opportunity to analyse impact and note major highlights of GST on Tea Industry of India. After water, Tea is said to be the most consumed drink worldwide. Tea (CHAI) is undoubtedly the most popular beverage in […]
Taking another step towards the goal of increasing “Ease of doing business” in India and providing relief to small taxpayers; the GST Council in their 42nd Meet on 5th October 2020 proposed a quarterly return filing system for small taxpayers to be implemented w.e.f. 1st January, 2021. QRMP or Quarterly Return Monthly Payment Scheme is […]
Introduction The concept of E-invoicing for India is a big move, due to the volume of business transactions undertaken every day, as well as the plethora of different, non-standardized formats used in invoice generation. The concept of e-invoicing may be new to Indian taxpayers, but it has been already adopted by about 70 countries over […]
Completed 3 years in operation but still struggling to rise-up to the average expectations of the stakeholders; GST has proved to be a loop of extension of compliance deadlines. One such compliance is the filing of Annual Return (Form GSTR 9) and GST Audit (Form GSTR 9C).
In part I of the article we have discussed 16 Landmark Judgments on GST Law related to Scope of Supply & Levy, Input Tax Credit, Returns and Payment of tax. In this part i.e. Part II of the article we will discuss 14 more Landmark Judgments on GST Law related to GST Refunds, Arrest under […]
CBIC has not been able to train its GST officers who are still lacking appropriate knowledge and understanding of GST law and therefore are passing adjudication notices/orders on petty and illogical issues leading to continuous harassment of taxpayers.
One of the major objectives of GST implementation in India was to ensure the seamless movement of goods and no-check posts in between the states. Further, it was expected that it would put an end to the prolonged road permit system and inspector raj in India. In order to facilitate the same E-way bill mechanism […]
Government has provided a window enabling the taxpayers to file the Form Tran-1 till 31.03.2019 and which is now extended till 31.12.2019. It should be noted that this facility is available only to the persons who have attempted to file the FORM GST TRAN-1 within the initial due date i.e., 27.12.2017 but could not file the same due to technical glitches in the portal and further has digital evidence to prove the same (category-1).
