Goods and Services Tax

Claim of ITC as GSTR-2B is mandatory w.e.f. 01.01.2022

At the time of introduction of GST i.e. 01.07.2017, it was proposed that pursuant to Section 37 (Furnishing details of outward supplies) read with old Rule 59 (Form and manner of furnishing details of outward supplies) the supplier of the goods or services will furnish the details of invoice or debit note of such supply […]...

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Statutory Tax Compliance Tracker for December, 2022

Statutory Tax Compliance Tracker for December, 2022 explains Compliance requirement under Income Tax act, 1961 and Compliance Requirement under GST, 2017 for the Month of December, 2022. Tax Compliance Tracker – December, 2022  1. Compliance Requirement Under Income Tax Act, 1961   Sl.   Compliance Particulars   Due Dates   1 D...

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Debit-Credit note: Commercial Practice Vs GST

The Article explains the meaning of debit note credit note under normal commercial practice Vs under GST Law, definition, Act, Q & A under GST, relevant amendment under GST....

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Checklist of Accounts, Records & Documents to be maintained for GST Audit – Part I

As an important requirement under GST Audit, there was an onus on the professionals i.e., CA/CMA to verify the completeness, correctness, and compliance of the various accounts and records maintained and any deviations thereon need to be reported as an observation, comment, or qualification in Part B of the Form GSTR 9C while certifying t...

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Time of Supply of Goods – Section 12 CGST Act 2017-Simplified

Section 12 – Time of Supply of goods Meaning of Time of supply – Time of supply of goods means ‘’occasion when we are liable to pay tax on goods as per provisions of law ’’ ♦ Time of supply – Forward Charge Time of Supply will be earlier of – – Date of issue […]...

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Monthly GST revenues more than ₹1.4 lakh crore for nine straight months in a row

The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods)...

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Centre releases Rs. 17,000 crore of GST compensation to States/UTs

The Central Government released an amount of Rs. 17,000 crore to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June, 2022 (State-wise details as per Table below). The total amount of compensation released to the States/UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,66...

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GST Doctor Web Application for holistic analysis of GST-Returns

Sh. Milan Tiwari, Inspector of Chennai GST Zone had developed a Web-Application named as GST Doctor which is useful for efficient and holistic analysis of GST-Returns, Invoice-wise data etc. for the purpose of Audit; scrutiny of GST returns; and processing of GST Refunds....

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Mandatory furnishing of correct ineligible ITC & reversal thereof in Form GSTR-3B

Mandatory furnishing of correct and proper information of ineligible Input Tax Credit and reversal thereof in Form GSTR-3B That CBIC circular no. 170/02/2022- GST has highlighted incorrect reporting of ineligible Input Tax Credit by Taxpayers. In this context, it has been observed that large portion of unclaimed IGST ITC has led to loss o...

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GST Council Newsletter for the month of October, 2022

GST Council Secretariat, New Delhi  MESSAGE It is heartening to see the buoyancy in revenue collection for the past eight months where the monthly GST revenue collections were reported above 1.4 lakh crores. The revenue collection for the month of October, 2022 stood at 1,51,718 crore indicating a 16.6% year-on-year rise as well being th...

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Matter involving adjudication of facts cannot be entertained under Article 226

K. Sanalkumar Vs State Tax Officer (Intelligence) (Kerala High Court) - Kerala High Court proceeding finalized against the petitioner based on certain computer records cannot be challenged before High Court as alternative remedies before the Appellate Authority is available before the petitioner. Matter involving adjudication of facts is not possible under Article 226 o...

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GST on transfer of leasehold land including other services

In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) - In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) Q.1: Applicability of GST on transfer of leasehold land which includes other services such as Electricity Line, Water Line, Drainage Line, Road, Sewerage Line etc. like in case of plotted development., Ans: As discussed in forging par...

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GST on activity of transportation of coal from mine to railway siding

In re BGR Mining & Infra Limited (GST AAR Jharkhand) - Whether the at Pakur, till the time the railway siding is made operational at the mine, is an independent activity or part of supply of mining service? Activity of transportation of coal from the mine pit-head to the railway siding is an independent activity....

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HC direct authorities to reset/reopen GST portal to rectify inadvertent mistake in filing GST TRAN-1 form

Jagdalpur Motors Vs Union of India (Chhattisgarh High Court) - Jagdalpur Motors Vs Union of India (Chhattisgarh High Court) HC held that undoubtedly the petition became entitled for submitting of his Form Tran-1 and Tran-2 in terms of the order of the Supreme Court in case of Union of India Vs. Filco Trade Centre (Supra). It is also an admitted factual position...

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Notification no. 79/2017-Customs granting IGST exemption to import of capital goods under EPCG is clarificatory

Sanathan Textile Pvt. Ltd Vs Union of India (Bombay High Court) - Bombay High Court has held that notification no. 79/2017-Customs dated October 13, 2017 (amending notification no. 16/2015-Customs) granting exemption from the IGST to the capital goods imported under the Export Promotion Capital Goods Scheme is clarifying and curative in nature....

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Manner of processing and sanction of withheld IGST refunds

Instruction No. 04/2022-GST - (28/11/2022) - Manner of processing and sanction of IGST refunds, withheld in terms of clause (c) of sub-rule (4) of rule 96, transmitted to the jurisdictional GST authorities under sub-rule (5A) of rule 96 of the CGST Rules, 2017-regarding...

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Notification No. 02/2022-Union territory Tax | Dated: 25th November, 2022

Notification No. 02/2022-Union territory Tax; [G.S.R. 849(E).] - (25/11/2022) - CBIC notifies member for the Authority for Advance Ruling in the Union Territory of Chandigarh vide Notification No. 02/2022-Union territory Tax | Dated: 25th November, 2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi, Notification No. 02/2022-Union territory Tax | Dated: 25th November, 20...

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CBIC amends rules related to National Anti-Profiteering Authority

Notification No. 24/2022-Central Tax [G.S.R. 843(E)] - (23/11/2022) - Central Goods and Services Tax (Fourth Amendment) Rules, 2022 – CBIC omitted following GST Rules 122,124,125,134 and 137 vide Notification No. 24/2022 – Central Tax Dated 23rd November, 2022 which are related to National Anti-Profiteering Authority. It ameds rule 127 (Duties of the Authorit...

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Now Competition Commission of India to examine Anti-Profiteering

Notification No. 23/2022-Central Tax [S.O. 5450(E)] - (23/11/2022) - CBIC notifies Competition Commission of India to examine whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by him vide Notification No. 23/2022 – Cen...

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Mandatory furnishing of ineligible / blocked ITC & reversal thereof in Form GSTR-3B – instructions

Trade Circular No. 1/2022 - (21/11/2022) - Mandatory furnishing of correct and proper information of ineligible / blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B – instructions...

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Recent Posts in "Goods and Services Tax"

Matter involving adjudication of facts cannot be entertained under Article 226

K. Sanalkumar Vs State Tax Officer (Intelligence) (Kerala High Court)

Kerala High Court proceeding finalized against the petitioner based on certain computer records cannot be challenged before High Court as alternative remedies before the Appellate Authority is available before the petitioner. Matter involving adjudication of facts is not possible under Article 226 of the Constitution of India....

Read More

Claim of ITC as GSTR-2B is mandatory w.e.f. 01.01.2022

At the time of introduction of GST i.e. 01.07.2017, it was proposed that pursuant to Section 37 (Furnishing details of outward supplies) read with old Rule 59 (Form and manner of furnishing details of outward supplies) the supplier of the goods or services will furnish the details of invoice or debit note of such supply […]...

Read More

Statutory Tax Compliance Tracker for December, 2022

Statutory Tax Compliance Tracker for December, 2022 explains Compliance requirement under Income Tax act, 1961 and Compliance Requirement under GST, 2017 for the Month of December, 2022. Tax Compliance Tracker – December, 2022  1. Compliance Requirement Under Income Tax Act, 1961   Sl.   Compliance Particulars   Due Dates   1 D...

Read More

Debit-Credit note: Commercial Practice Vs GST

The Article explains the meaning of debit note credit note under normal commercial practice Vs under GST Law, definition, Act, Q & A under GST, relevant amendment under GST....

Read More

Monthly GST revenues more than ₹1.4 lakh crore for nine straight months in a row

The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods)...

Read More

GST on transfer of leasehold land including other services

In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand)

In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) Q.1: Applicability of GST on transfer of leasehold land which includes other services such as Electricity Line, Water Line, Drainage Line, Road, Sewerage Line etc. like in case of plotted development., Ans: As discussed in forging paras, the leasing of property by RSCCL, if...

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GST on activity of transportation of coal from mine to railway siding

In re BGR Mining & Infra Limited (GST AAR Jharkhand)

Whether the at Pakur, till the time the railway siding is made operational at the mine, is an independent activity or part of supply of mining service? Activity of transportation of coal from the mine pit-head to the railway siding is an independent activity....

Read More

HC direct authorities to reset/reopen GST portal to rectify inadvertent mistake in filing GST TRAN-1 form

Jagdalpur Motors Vs Union of India (Chhattisgarh High Court)

Jagdalpur Motors Vs Union of India (Chhattisgarh High Court) HC held that undoubtedly the petition became entitled for submitting of his Form Tran-1 and Tran-2 in terms of the order of the Supreme Court in case of Union of India Vs. Filco Trade Centre (Supra). It is also an admitted factual position that the period […]...

Read More

Notification no. 79/2017-Customs granting IGST exemption to import of capital goods under EPCG is clarificatory

Sanathan Textile Pvt. Ltd Vs Union of India (Bombay High Court)

Bombay High Court has held that notification no. 79/2017-Customs dated October 13, 2017 (amending notification no. 16/2015-Customs) granting exemption from the IGST to the capital goods imported under the Export Promotion Capital Goods Scheme is clarifying and curative in nature....

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Bail application rejected as informant likely to be pressured

Rohul Amin Vs State of Assam (Gauhati High Court)

Gauhati High Court held that rejected the pre-arrest bail as the informant referred to mobile call screenshots which project that the petitioner repeatedly called him to mount pressure to compromise the matter....

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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.