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Goods and Services Tax : Recent GST directive mandates written grounds for arrest, aligning with legal rights. Learn implications and changes in arrest pro...
Goods and Services Tax : Understand the GST fake invoice issue, tax demand, penalties, and possible solutions, including appeals, payments, and expected am...
Goods and Services Tax : Learn about Input Credit Reversal under Sec 16(2) of GST, its conditions, impact on buyers and sellers, and compliance requirement...
Goods and Services Tax : Explore the implications of Section 16(2)(c) of the CGST Act, balancing taxpayer rights and government revenue in Input Tax Credit...
Goods and Services Tax : Learn about Section 128A of CGST Act, introduced to reduce litigation in non-fraud cases, covering tax waivers, notified dates, co...
Goods and Services Tax : West Bengal's GST share dropped from 4.6% in 2019-20 to 4% in 2024-25. Learn about factors affecting revenue, government measures,...
Goods and Services Tax : Government addresses GST exemption on health & life insurance premiums, forming a GoM for review. Key updates on current exemption...
Goods and Services Tax : The government addresses GST complexities with reforms, fraud crackdowns, and MSME compliance relief. Learn about tax slabs, exemp...
Goods and Services Tax : GST on leased properties remains at 18%. Recent changes exclude composition taxpayers from reverse charge liability. No central da...
Goods and Services Tax : GST on commercial training is 18%, while educational institutions' services and books are exempt. Details of GST collection and me...
Goods and Services Tax : Madras High Court rules that GST paid during detention can be claimed as a refund if excess tax is paid in regular returns. Key in...
Goods and Services Tax : When the power to the statutory authority is granted upto five years to modify the order, it cannot be said that the constitutiona...
Goods and Services Tax : Calcutta High Court condoned delay in GST appeal by Kamala Stores, citing S.K. Chakraborty precedent and directing appellate autho...
Goods and Services Tax : West Bengal AAAR denies GST exemption on upfront premium for land lease, citing non-fulfillment of conditions under Notification 1...
Goods and Services Tax : Calcutta High Court quashes GST penalty and goods detention, ruling no intent to evade tax. Authorities directed to release goods ...
Goods and Services Tax : New GST registration rules require biometric or Aadhaar authentication at GSK. Complete verification within 15 days to avoid ARN r...
Goods and Services Tax : The Ministry of Finance has notified the implementation dates for specific provisions of the GST Amendment Rules, 2024. Key rules ...
Goods and Services Tax : CBIC detects Rs. 18.10 crore GST evasion in real estate and organizes a CPR training workshop for officers. Post-Budget discussion...
Goods and Services Tax : Maharashtra establishes GST Suvidha Kendra for Aadhaar-based biometric authentication and document verification for new GST regist...
Goods and Services Tax : Clarified procedure for appeals under Section 128A of CGST Act 2017, addressing disputes on interest and penalty where tax is full...
The Central GST Delhi West Commissionerate has unearthed evasion of GST by way of manufacture and clandestine supply of gutkha/pan masala/tobacco products without any registration and payment of duty. On basis of the search at the premise of manufacture, it was found that illegal manufacturing of Gutkha/pan masala/tobacco product was going on, evidenced by a godown, machines, raw materials and manufactured products at the premises. Around 65 labourers were found working at the illegal factory.
Let’s discuss recent changes in GST with new perspective- As GST become effective from July 2017, we all are happy that there will be seamless flow of ITC and no restrictions to claim ITC but now it is not easy to claim ITC –SOUL OF GST -as we have to cross many stages to claim […]
There is great dilemma in pricing of products so much so that for every overvaluation businesses are suspected of money laundering and for every undervaluation they are suspected of tax evasion. Adding to this is Section 171 of the CGST Act which reads as below:- 1) Any reduction in rate of tax on any supply […]
GST Revenue collection for December 2020 recorded all time high since implementation of GST. ₹ 1,15,174 crore gross GST revenue collected in December. Revenues for December 2020 are 12% higher than the GST revenues in the same month last year.
Quarterly Return Monthly Payment Scheme (QRMP Scheme) 1. What is QRMP Scheme? Currently, a registered person having aggregate turnover of up to ₹5 crores and furnishing GSTR 1 on monthly/quarterly basis, files GSTR 3B on monthly basis only. Under QRMP scheme, such registered persons shall be required to furnish GSTR 3B too on quarterly basis […]
WMTPA has written a letter to FM and said that they are Highly Disappointed with GST Audit Extension Press Release dated 30th Dec 2020, when delay is due to fact that Department / GSTN was not ready upto 30th Dec 2020. Full text of their representation is as follows:- THE WESTERN MAHARASHTRA TAX PRACTITIONERS’ ASSOCIATION […]
Beginning of Year 2021 is also effecting six important changes GST Rules having a direct impact on the business.
As the 2021 New Year is ushering, everyone wishes to welcome it with lots of celebrations, waving goodbye to 2020. In light of the GST investigation wing recently unearthing several cases of fake invoices and bogus firms, which also resulted in the arrest of some individuals CBIC has issued a couple of notifications amending the […]
My apprehension is that definitions of expressions supply of goods in the course of inter-State trade or commerce provided in sub-section (1) of section 7, and intra-State supply provided in section 8, of the Integrated Goods and Services Tax Act, 2017 (hereinafter referred to as the IGST Act) are not Constitutionally valid. In my opinion, […]
India has gone through in absolutely bad phase in the year 2020-21, not only on account of pandemics of COVID-19 but number of aspects w.r.t. business and tax compliances. At present, trade & industries and professionals are struggling to revive their business and liquidity is the only oxygen for them for survival of the business. […]
