Goods and Services Tax

My 3 years with GST

Concept of GST was proposed by Atal Bihari Vajpayee government in 2000, but it took nearly 17 years for GST to come into existence. Major task to bring constitutional amendment and put majority of states on one table was easy for the lawyer turned Finance Minister Arun Jaitely and team of his experienced bureaucrats. Further […]...

Read More

Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16

Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16 1. As per section 24(1) of the CGST Act 2017, the following categories of persons are required to be registered, even if their aggregate turnover is below specified threshold limit and are exempt from registration under section 22(1). 2. Section 24(i): […]...

Read More

GST Applicable on Sale of Plot of Land with Amenities- GAAR

[ADVANCE RULING NO. GUJ/GAAR/R/2020/11 dated 19.05.2020] It has come into knowledge that an Application under Section 97(2) of CGST Act, 2017 was filed on 18.08.2018 by one Shree Dipesh Anilkumar Naik, an unregistered person, before The Gujarat Authority for Advance Rulings (GAAR). The applicant has seeking an advance ruling in respect of...

Read More

Interest on delayed payment of GST | Section 50 | CGST Act 2017

Simplified GST series- Section 50/CGST Act 2017 Section 50- Interest on delayed payment of tax (GST) (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made there under, but fails to pay the tax or any part thereof to the Government within the period […]...

Read More

GST – Cancellation and Revocation of Registration

The registration granted under GST can be cancelled for specified reasons. The cancellation can either be initiated by the department or the registered person or the legal heirs in case of death of registered person. In case the registration has been cancelled by the department there is a provision for revocation of the cancellation of [&...

Read More

Upsurge in E-way bills signals to green shoots in economy

More than 4.27 crore E-Way Bills generated in June 2020 against average of 5.3 cr per month of pre-COVID period. Value of E-way bills generated in June is close to pre-lockdown figures. Unlock 2.0 set to witness a further surge. New Delhi, 5thJuly 2020: E-way bill generation data, one of the prominent indicators of economic […]...

Read More

Updated Central Goods and Services Tax Rules, 2017

This article have updated Central Goods and Services Tax Rules, 2017 / CGST Rules, 2017, which were initially released on 19th June 2017 and amended by various notifications issued from time to time. CGST Rules are updated with notifications issued till 03rd April 2020. Details of Initial and Subsequent Notifications is as follows :- S. [...

Read More

Digital GST Ready Reckoner by Taxguru Edu

We are happy to announce the launch of our Digital GST Ready Reckoner-2020. With this transformation we strive towards bringing flexibility in reading and understanding the law. This Digital GST Ready Reckoner is beyond just a PDF version to our paper book. It has some distinct benefits and offers versatility in comparison to the printe...

Read More

Message of Hon’ble MOS (Finance) on GST Day

GST has brought about changes and new opportunities in all spheres of economy and taxation. GST, not only subsumed most of the indirect taxes and created one tax, it has also unified the country and trade in many more ways, thus bringing out One Nation One Tax in true spirit....

Read More

SMS filing of NIL statement of FORM GSTR-1

The facility of SMS filing of NIL statement of FORM GSTR-1 is going to start from 1st week of July 2020 A taxpayer may now file NIL Form GSTR-1, through an SMS, apart from filing it through online mode, on GST Portal. To file NIL Form GSTR-1 through SMS, the taxpayer must fulfil following conditions: […]...

Read More

GST: HC cannot be made middle authority between Tax & Appellate Authority

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) - L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) Learned Additional Government Advocate Sri.Vikram Huilgol for respondent No.2 submits that the appeal under Section 107 of Central Goods and Services Tax Act, 2017 are to be filed before the appellate authority. As ...

Read More

Threaded metal nuts classifiable under Tariff item 73181600

In re A Raymond Fasteners India Pvt. Ltd (GST AAR Maharashtra) - In re A Raymond Fasteners India Pvt. Ltd (GST AAR Maharashtra) Q. Whether Threaded metal nuts which function same as standard nut, merits classification under the Tariff item 7318 16 00 & not under Tariff item 8708 99 00? A. In view of the discussions made above, Threaded metal nuts merits class...

Read More

Recipient of services cannot apply for Advance Ruling under GST

In re Portescap India Private Limited (GST AAR Maharashtra) - In re Portescap India Private Limited (GST AAR Maharashtra) Section 95 of the CGST Act, 2017 allows this authority to decide the matter in respect of supply of goods or services or both, undertaken or proposed to be undertaken by the applicant. We find that the applicant has not undertaken the suppl...

Read More

No ITC of GST on input & input services used for construction of commercial immovable property, subsequently used for renting

In re Ashish Arvind Hansoti (GST AAR Maharashtra) - In re Ashish Arvind Hansoti (GST AAR Maharashtra) Question : Whether applicant is eligible to claim input tax credit of GST paid on input & input services used for construction of commercial immovable property, subsequently used for renting? Section (17) (5) (d) bars a taxable person, in the sub...

Read More

AAR application not admissible on separate invoice issue to each co-owners

In re Rishabh Chopda (GST AAR Maharashtra) - In re Rishabh Chopda (GST AAR Maharashtra) The first question raised by the applicant is whether the co-operative society, in the present case has to issue four separate invoices to each of the four co-owners so that all of them can get proportionate input tax credit. We find that the said question ...

Read More

End-date to complete statutory compliances under Excise & Custom

Notification No. D.O.No.21/CH(IC)/2020 - (29/06/2020) - The end-date for completion of statutory compliances under Central Excise Act, 1944, Customs Act, 1962, Customs traiff Act, 1975 or Chapter V of the Finance Act, 1994 has been extended till 30th day of September, 2020....

Read More

Due Date for Filing Refund of Voluntary Deposit under MVAT extended

Notification No. VAT-1520/CR. 64/Taxation-1 - (01/07/2020) - For refund of MVAT Voluntary Security Deposit, date of application has been extended from 31/03/2019 to 31/03/2021 by Maharashtra Government Notification No. VAT-1520/CR. 64/Taxation-1 dated 1st July 2020. FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya Mumbai 400 032, dated th...

Read More

Rule 67A Manner of furnishing GSTR 3B by SMS facility

Notification No. 58/2020 – Central Tax/G.S.R. 426(E) - (01/07/2020) - CBIC notifies GST Rule 67A which specifies Manner of furnishing of return or details of outward supplies (Form GSTR 3B) by short messaging service (SMS) facility. Central Goods and Services Tax (Eighth Amendment) Rules, 2020. Notification No. 58/2020 – Central Tax Dated: 1st July, 2020.  Ministry...

Read More

FM: Strive to make GST Tax Administration simple

Release ID: 1635730 - (01/07/2020) - On GST Day, 2020 FM highlighted that GST has come a long way in simplifying the GST Tax Administration based on feedback from stakeholders. GST has been instrumental in Breaking Barriers to build an AatmaNirbhar Bharat and taking forward the motto of One Nation One Tax One Market....

Read More

GSTR 3B Late fees restricted to Rs. 500 for return filed till 30.09.2020

Notification No. 57/2020–Central Tax [G.S.R. 424(E)] - (30/06/2020) - Total amount of late fee payable for GSTR 3Bshall stand waived which is in excess of two hundred and fifty rupees and shall stand fully waived for those taxpayers where the total amount of central tax payable in the said return is nil...

Read More

Browse All Categories

CA, CS, CMA (4,806)
Company Law (6,155)
Custom Duty (7,794)
DGFT (4,244)
Excise Duty (4,368)
Fema / RBI (4,242)
Finance (4,456)
Income Tax (33,461)
SEBI (3,525)
Service Tax (3,564)

Recent Posts in "Goods and Services Tax"

GST: HC cannot be made middle authority between Tax & Appellate Authority

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court)

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) Learned Additional Government Advocate Sri.Vikram Huilgol for respondent No.2 submits that the appeal under Section 107 of Central Goods and Services Tax Act, 2017 are to be filed before the appellate authority. As such the petitioner cannot be so hurry a...

Read More

Upsurge in E-way bills signals to green shoots in economy

More than 4.27 crore E-Way Bills generated in June 2020 against average of 5.3 cr per month of pre-COVID period. Value of E-way bills generated in June is close to pre-lockdown figures. Unlock 2.0 set to witness a further surge. New Delhi, 5thJuly 2020: E-way bill generation data, one of the prominent indicators of economic […]...

Read More

GSTR 1, GSTR 3B Interest and Late Fees made simpler

Keeping in view the difficult time due to COVID 19 ,the Government of India, through a set of notifications and circulars  have brought recent changes to provide relief by way of conditional waiver of late fees and/or levy of interest on filing of GSTR 1 and GSTR 3B after the prescribed due dates.  In this […]...

Read More

My 3 years with GST

Concept of GST was proposed by Atal Bihari Vajpayee government in 2000, but it took nearly 17 years for GST to come into existence. Major task to bring constitutional amendment and put majority of states on one table was easy for the lawyer turned Finance Minister Arun Jaitely and team of his experienced bureaucrats. Further […]...

Read More

Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16

Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16 1. As per section 24(1) of the CGST Act 2017, the following categories of persons are required to be registered, even if their aggregate turnover is below specified threshold limit and are exempt from registration under section 22(1). 2. Section 24(i): […]...

Read More

GST Applicable on Sale of Plot of Land with Amenities- GAAR

[ADVANCE RULING NO. GUJ/GAAR/R/2020/11 dated 19.05.2020] It has come into knowledge that an Application under Section 97(2) of CGST Act, 2017 was filed on 18.08.2018 by one Shree Dipesh Anilkumar Naik, an unregistered person, before The Gujarat Authority for Advance Rulings (GAAR). The applicant has seeking an advance ruling in respect of...

Read More

ITC cannot be denied for charge by seller at Higher than specified rate

Visteon Automotive Systems Pvt. Ltd. Vs Deputy Commissioner (CT) (Madras High Court)

The issue under consideration is whether the respondent was justified in directing the petitioner to reverse the input tax credit availed on capital goods in excess of 4% vide the impugned order?...

Read More

Interest on delayed payment of GST | Section 50 | CGST Act 2017

Simplified GST series- Section 50/CGST Act 2017 Section 50- Interest on delayed payment of tax (GST) (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made there under, but fails to pay the tax or any part thereof to the Government within the period […]...

Read More

GST – Cancellation and Revocation of Registration

The registration granted under GST can be cancelled for specified reasons. The cancellation can either be initiated by the department or the registered person or the legal heirs in case of death of registered person. In case the registration has been cancelled by the department there is a provision for revocation of the cancellation of [&...

Read More

GST Advance Rulings should be Judicious…

‘Advance ruling’ means a decision provided by the Authority or the Appellate Authority to an applicant on matters or on questions specified in sub-section (2) of section 97 or subsection (1) of section 100 of the CGST Act, 2017, in relation to the supply of goods or services or both being undertaken or proposed to […]...

Read More

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.