Goods and Services Tax - Page 2

Form ITC-04 – Due date to file for quarter (October to December 2020)

Due date for filing Form ITC-04 (details of job work challans), in respect of inputs/capital goods sent to a job worker or received from a job worker, during the quarter (October to December 2020) is 25-01-2021 Login to ->Go to Services -> In the drop-down click on Returns -> ITC Forms Due date for […]...

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New functionalities on GST Portal (October-December, 2020)

New functionalities made available for Taxpayers on GST Portal (October-December, 2020) Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund, other Miscellaneous topics. Vario...

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GST: Power to attach Bank Account cannot be used in absence of statutory precondition

Proex Fashion Private Limited Vs Government of India (Delhi High Court)

Power to attach the bank account must therefore be exercised only in strict compliance with the statutory power, and could not be extended to cover situations which were not expressly contemplated by the section. Absent the statutory precondition for exercise of the power of attachment, any order under Section 83 was wholly illegal and un...

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Join Online Live GST Certification Course by CA Raman Singla

Join Online Professional Development & Certification Courses on GST by TaxGuru Edu, an educational wing of TaxGuru to help you in learning GST in a practical way. Course will cover all the amendments made by Recent GST Notifications. All these changes are applicable from 01st January 2021 and changes are very significant one with resp...

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Impact of GST on hospital

Health Care has become one of the India’s Largest Sector, both in terms of Revenue and Employment. Health Care Industry comprises of Hospitals, Medical Devices, Clinical Trials, Outsourcing, Telemedicine, Medical Tourism, Health Insurance, Medical Equipment and several other facets. The Indian Health Care sector is growing at a brisk pa...

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Battle between ITC-02 and Inter-state transfer of ITC

Why do we need Advance Authority Rulings under GST? We need them because only after reaching out to an AAR, we understand that there is an underlying problem that needs our attention. Thanks to the plenteous AAR decisions, now we have great precedents from judicial forums and Interpretations available with the legal fraternity that the [&...

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CGST Rule 36(4) notice issued by Hon’ble Gujarat High Court

Surat Mercantile Association Vs Union of India (Gujarat High Court)

Rule 36(4) of the Central GST Rules and Gujarat and GST Rules, 2017 restricts Input tax credit to be availed by the buyer of goods or services in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers in GSTR-1 return, to 5% of ‘eligible credit’ available in […]...

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Exports – How to optimize GST?

One of the fundamental principle to make exports competitive in the international market is that taxes should not be exported. Hence exports to destinations outside India as well as supplies to SEZ have been “zero rated”. Under GST, either exports can be made with LUT (without payment of tax) or it can be made without […]...

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ITC availment right not ‘indefeasible’- Gujarat HC upheld DGGSTI’s action under Rule 86A

Court held that it would be too much for this court at this stage to stall a legitimate investigation into the allegations of fraudulent transactions and permit the writ applicants to avail the ITC of a huge amount in exercise of its writ jurisdiction....

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Karnataka GST Audit Manual

GOVERNMENT OF KARNATAKA (Department of Commercial Taxes) KARNATAKA GST AUDIT MANUL Office of the Commissioner of Commercial Taxes, “Vanija Therige Karyalaya” Bengaluru-560009 taxation is a sovereign power exercised by the state to realise revenue to enable it to discharge its obligations. HON’BLE SUPREME COURT OF INDIA,...

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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.

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January 2021