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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 : Learn how to address GST notices on excess ITC claimed in GSTR-3B compared to GSTR-2B with structured replies, reconciliation step...
Goods and Services Tax : The article analyzes the key GST provisions for e-commerce, focusing on regulatory frameworks, compliance requirements, and associ...
Goods and Services Tax : Haryana revives entry tax after 8 years, sparking legal concerns. Understand the implications, recovery limits, and legal remedies...
Goods and Services Tax : The GST Council has deferred decisions on insurance premium taxation, granting more time to the GoM to finalize its recommendation...
Goods and Services Tax : Tirumala Tirupati Devasthanam gets GST exemptions on religious services, but GST of ₹36.28 crore was paid in 2024-25. Details of...
Goods and Services Tax : NBEMS stopped collecting GST on course fees per court order. Refund processing has begun, but no enquiry has been instituted. Deta...
Goods and Services Tax : Tobacco tax revenue contributed 1.27%-2.75% of Gross Tax Revenue from 2016-2024. Funds are allocated across government programs, i...
Goods and Services Tax : The GST Council deferred a decision on reducing GST on health and life insurance premiums in its 55th meeting as GoM sought more t...
Goods and Services Tax : Supreme Court rejects SLP of Goverdhandham Estate against Rajasthan HC's decision in GST dispute over ITC eligibility on elevators...
Goods and Services Tax : Madras High Court directed granting of one final opportunity of being heard as demanded by assessee on payment of 10% of the dispu...
Goods and Services Tax : Petitioner runs a hotel and registered under GST. It was issued a notice in GST ASMT-10 intimating certain discrepancies which sta...
Goods and Services Tax : Kerala HC orders IGST refund decision within two months, reviewing the petitioner’s “risky exporter” status. Refund claim pe...
Goods and Services Tax : Orissa HC directs refund of GST differential amount for a contractor despite a locked payment system, ensuring reimbursement withi...
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...
Goods and Services Tax : GST applicants in Maharashtra & Lakshadweep must complete biometric Aadhaar authentication & document verification at GST Suvidha ...
Goods and Services Tax : GST advisory clarifies E-Way Bill rules for goods under Chapter 71, excluding HSN 7117. Mandatory in Kerala; voluntary EWB generat...
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Due to the outbreak of Novel Covid-19, Finance Minister has announced several relief measures on 24th March 2020– √ Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. √ Aadhaar-PAN linking date to be extended from 31st […]
The problem was arising for the small taxpayers who supposed to deposit the GST amount immediately on account of supply of service and the payment for the same has been received by them after 6 months or even more in some cases. It becomes very difficult for the small operators to pay the tax amount […]
During the Outbreak of COVID – 19 Virus all around the World The Indian Government have taken immediate measures to Stable the Economy and reduce the panic in Honest Tax Payers by applying some serious steps in Statutory Compliances under Income Tax and Goods and Service Tax. On Press meet held on 24-March 2020 the […]
The gross GST revenue collected in the month of March, 2020 is Rs. 97,597crore of which CGST is Rs. 19,183 crore, SGST is Rs. 25,601 crore, IGST is Rs. 44,508 crore (including Rs. 18,056 crore collected on imports) and Cess is Rs. 8,306 crore (including Rs. 841 crore collected on imports). The total number of GSTR-3B Returns filed for the month of February up to 31st March, 2020 is 76.5 lakh.
Article analyses Issues arising from Refund related GST Circular No. 135/05/2020 dated 31-03-2020 issued by CBIC- 1. Bunching of Financial years has been allowed for the purpose of claiming refunds. Now this may result in assessee having applied for lesser refund as compared to refund actually admissible as per Circular. However, this Circular has not […]
All GCC Countries have agreed to implement the VAT latest w.e.f. 01.01.2019 and in that direction, have already passed the Framework for common law. The Framework unanimously passed by all GCC Countries is on consumption based model of VAT suggesting that tax shall be imposed wherever value is added to the product in its supply chain.
CBEC has issued Circular No. 135/05/2020-GST dated 31/03/2020 clarifying certain confusions under refund of GST. The summary of same reproduced below: 1. Bunching of refund claims across Financial Years: Vide circular No 125/44/2019-GST dated 18.11.2019, claiming refund by bunching across different Financial years was restricted. As per this circular, clubbing was possible only within the […]
Need for clubbing of refund claim across financial years arises while claiming refund of Input Tax Credit for exports, It is possible that input tax credit may be received in a month while exports may be made in subsequent month.
Recently, the CBIC has issued a notification no. 16/2020-Central Tax, dated 23/03/2020 whereby certain amendments have been made in CGST Rules, 2017 (‘CGST Rules’). Under this article, I have covered the amendment made in definition of ‘Turnover of Zero-rated supply of goods’ under Rule 89 (4) of the CGST Rules and its impact of quantum […]
The COVID-19 pandemic has already beaten black and blue the Indian markets, with the Nifty and Sensex entering the lower circuits for the second time in less than a month today. Enterprises have come to a halt on a microscopic point! Leave the tax compliances alone, but companies have a tough time handling their day-to-day […]
