Goods and Services Tax India: Read all latest GST news, articles, notification, circulars, case laws news on, MVAT DVAT PVAT GST GSTN IGST CGST GST Council GST Rates SGST GST Forms GST Rules.
Goods and Services Tax : Discover the structure, powers, and recent updates of the GST Council in India, including key decisions from the 53rd GST Council ...
Goods and Services Tax : Explore GST exemptions for educational institutions under Notification 12/2017(CTR) and case laws. Learn how these exemptions appl...
Goods and Services Tax : Understand Input Tax Credit (ITC) under GST: Learn about eligibility, conditions, and types of ITC. Stay updated with latest amend...
Goods and Services Tax : Understand the time limit to avail Input Tax Credit (ITC) under Reverse Charge Mechanism (RCM) and the implications for registered...
Goods and Services Tax : State directives needed to stop police from illegally checking invoices/e-way bills, hindering trade. Only GST officials have this...
Goods and Services Tax : Explore the interoperable services of E-Invoice1 and E-Invoice2 systems, boosting efficiency and reliability for taxpayers. Learn ...
Goods and Services Tax : Discover the latest API updates for E-Invoice and E-Way Bill systems, including interoperable services and new error codes for sea...
Goods and Services Tax : Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC co...
Goods and Services Tax : CBI arrests CGST Superintendent and Inspector in Solan, HP, for demanding and accepting Rs.8000 bribe, leading to searches and ong...
Goods and Services Tax : CBI arrests Superintendent of Central GST & Central Excise in Berhampur for accepting Rs. 15,000 bribe from complainant regarding ...
Goods and Services Tax : Dive into the classification of Fortified Rice Kernels (FRK) under GST laws. Understand the ruling, implications, and applicable n...
Goods and Services Tax : Kerala High Court upholds the dismissal of a writ petition, ruling that the common portal can be used for GST order communications...
Goods and Services Tax : Delhi High Court restores GST registration in Rajdhani Trading Co. vs Principal Commissioner case, citing violation of natural jus...
Goods and Services Tax : Detailed analysis of the Delhi High Court judgment in Ace Cardiopathy Solutions Pvt Ltd Vs Union of India, addressing issues with ...
Goods and Services Tax : Detailed analysis of Delhi High Court's judgment on cancellation of GST registration due to non-filing of returns. Key implication...
Goods and Services Tax : Explore the integrated services of NIC-IRP e-invoice-1 and e-invoice-2 portals, launching on July 18th, 2024. Learn about seamless...
Goods and Services Tax : Explore CBIC achievements, updates, and recent cases in the July 2024 newsletter from the Ministry of Finance, Department of Reven...
Goods and Services Tax : GST rates on solar cookers, fire water sprinklers, parts of poultry-keeping machinery, pre-packaged agricultural produce and suppl...
Goods and Services Tax : Latest GST clarifications on services including Indian Railways, RERA, digital payments, insurance schemes, and accommodation serv...
Goods and Services Tax : Learn how exporters can claim refund of additional IGST paid due to price increases post-export. Details on application process an...
What is Input Tax Credit (ITC)? Input Tax Credit means reducing the taxes paid on inputs from taxes to be paid on output. When any supply of services or goods is supplied to a taxable person, the GST charged is known as Input Tax. The concept is not entirely new as it already existed under […]
Bank auditing is the procedure of reviewing the services and procedures adopted by banks and other financial institutions. It is a routine procedure that all financial services entities must undergo in order to ensure that they are in compliance with industry standards and jurisdictional regulations. In this Presentation let’s Discuss Bank Audit from GST Point of View Bank Transactions […]
Section 49 of the CGST Act, 2017 contains provisions in relation to payment of tax, interest, penalty and other amounts. Section 49 (5) of CGST Act, 2017 provides manner of utilizing Input Tax Credit (ITC) for payment of GST output tax liability, e.g IGST can be set off against IGST and then CGST and SGST, CGST can be set off against CGST and then against IGST, and SGST can be set off against SGST and then against IGST.
A. GST Composition Scheme Provisions Before 1st April 2019:- i. The threshold turnover limit For Trader, Manufacturer – Rs. 1 Crore For Restaurant Service Only – 1 Crore ii. Rate of Tax under GST Composition Scheme For Trader, Manufacturer – 1% For Restaurant Service– 5%. iii. For Services, other than restaurant scheme –No composition scheme iv. […]
GST Rates for Real Estate Sector to be effective from 1st April, 2019Affordable housing properties: Effective GST rate of 1% without ITC- .Residential properties outside affordable segment: Effective GST rate of 5% without ITC
GST Council in the 34th meeting held on 19th March, 2019 at New Delhi recommended that the supply of TDR, FSI, long term lease (premium) of land by a landowner to a developer shall be exempted subject to the condition that the constructed flats are sold before issuance of completion certificate and tax is paid […]
Rules 88A :Order of utilization of input Tax Credit- Restore to old method of set off of Input tax credit New GST Rules 88A as per Notification no 16/2019 dated : 29th March 2019 has restore the set of Input Tax Credit utilization in the old method with minor modification in order of set off. […]
Quarterly GST Return-2019 ♣ In the 27th GST Council meeting, the Government announced a simpler GST return filing regime for small taxpayer. ♣ Under the new regime, person having GST registration and a turnover of less than Rs.5 Crore would be provided with option to file quarterly return instead of monthly return. ♣ From the […]
ANALYSIS OF THE NOTIFICATION ISSUED BY CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ON 29.03.2019 DEFINITION AS PER RERA CARPET AREA- ‘carpet area’ means the net usable floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, exclusive balcony or verandah area and exclusive open terrace area, but […]
Jai Laxmi Cement Co.(P.) Ltd. Vs Union Of India (Allahabad High Court) Rule 120A of the CGST Rules, 2017 provides that where a registered dealer submits a declaration electronically in FORM GST TRAN-1 within the time period specified in Rule 117, Rule 118, Rule 119 and Rule 120 he may revise such declaration once and […]
