Ambiguity under Section 112(8)(b) of the CGST Act has created confusion over GSTAT pre-deposit calculations after reduction of tax demand in first appeal. The issue raises concerns about fairness and proportionality in GST litigation.
The article explains how rigid GST compliance and fear of penalties are pushing small businesses back into cash transactions. It suggests simplified GST reforms and composition scheme expansion to encourage formalisation.
This article explains the legal framework governing e-invoicing under GST, including turnover thresholds, IRN requirements and sector-wise exemptions. It also discusses the consequences of non-compliance under Rule 48 of the CGST Rules.
Health Security & National Security (HSNS) Cess Act, 2025 introduces a standalone statutory cess aimed at funding national health security and national security needs, operating independently of GST and other indirect taxes.
There are many supply transactions that are kept out of the ambit of GST be it Real Estate sector or Petroleum sector etc.,. Similarly, Government has exempted many supplies from the liability of GST in the public interest and imposed Nil rate of GST on certain supplies. These supplies are called as Non-GST, Exempt and Nil rated Supplies.
Most of the Traders were registered with respective State VAT authorities in Pre GST period and they did not possess any Central Excise Duty paying documents for the stocks held on the appointed date i.e., 01.07.2017.
As the New Year is ushering, every one wishes to welcome it with lots of celebrations, fun and frolic. Hotels, Resorts, Casinos and Clubs do brisk business hosting the revellers in their fold offering food and beverages, entertainment programs, recreation/carnival events, amusement facilities and accommodation for a fixed period.
Subsequent to introduction of GST, various Government Functionaries and Authorities has issued statements that GST has positive impact on Apartment Sales and their prices will be coming down. This has fuelled the aspiring Buyers to enquire and check the Apartment Prices whether they actually have come down or not. On the other hand, many Builders […]
Retail Business in Indian Pharma Trade is a highly fragmented one and majority sales of Pharma Products are done through the Medical Shops dotting each and every nook and corner of the Country and they are mainly in Unorganised Sector. Sales turnover of most of these Retailers is in between Rs. 20 lakhs to Rs.50 lakhs per annum.
Filing of GST TRAN – 1 Forms is mandatory for anyone to carry forward the Balances of Tax Credit lying unutilised in the erstwhile Central Excise/Service Tax/VAT Regime and to claim the unavailed credit either on Capital Goods or Inputs lying in stock.
