Transfer of a live and functional business as a going concern qualifies as an exempt supply under GST. The key takeaway is that business continuity, not mere asset transfer, determines eligibility for exemption.
GSTAT has extended relaxed scrutiny guidelines for portal-based appeals until 31 December 2026. The key takeaway is that this relief addresses procedural defects only and does not extend the statutory appeal filing deadline.
Non-compliance with GST ITC apportionment rules can lead to demands, interest, and penalties. Understanding Rule 42 and Rule 43 is essential for businesses claiming common input tax credits.
Resident taxpayers holding foreign assets or financial interests may be required to file returns and disclose such assets regardless of income levels. Failure to comply can lead to regulatory consequences.
The law permits taxpayers to adopt the stamp duty value on the agreement date instead of the registration date where prescribed conditions are satisfied. This relief helps prevent unfair tax additions arising solely from a later increase in circle rates.
Many taxpayers assume that income up to Rs. 12 lakh is completely tax-free under the new regime. The key takeaway is that Section 87A provides a rebate, not an exemption, and tax may still arise on special-rate income.
The article explains when GSTAT appeals are maintainable and outlines key filing conditions. It highlights timelines, pre-deposit rules, and procedural requirements for valid appeals.
Explains mandatory pre-deposit requirements under GST law and how compliance ensures automatic stay on recovery. Key takeaway: correct payment secures appeal and protection.
The issue covers the special timeline for filing delayed GSTAT appeals due to earlier tribunal non-functionality. The key takeaway is that missing 30.06.2026 may risk loss of appellate remedy.
Clarifies that revision under sections 264 and 378 is a taxpayer-friendly remedy where authorities cannot pass orders prejudicial to the assessee. It ensures a safe correction mechanism for overassessment or missed claims without risk of enhancement.
