Goods and Services Tax - Page 20

Highlights of 35th GST Council Meeting

35th GST Council Meeting was held on 21 June 2019 at New Delhi, after a long gap of more than three months. This was the first council meeting chaired by the re-elected government and India’s second woman Union Finance Minister, Mrs Nirmala Sitharaman....

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GST: Concept & Status (Updated as on 01st June, 2019

The introduction of Goods and Services Tax (GST) would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market. From the consumer point ...

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CBI Arrests Assistant Commissioner of CGST & Superintendent in bribery case

CBI has today arrested an Assistant Commissioner and a Superintendent, both working in CGST, Patna-II for demanding and accepting a bribe of Rs.2.5 lakh from complainant....

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GST on dredging to improve navigability of river-bed and channels

In re Arihant Dredging Developers Private Limited (GST AAR West Bangal)

In re Arihant Dredging Developers Private Limited (GST AAR West Bangal) It appears from the description of the work that it improves the navigability of the river-bed and channels – an activity toward development of irrigation and waterways. It is, therefore, an activity in relation to the function listed under SI No. 5 of the [&hel...

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GST on works contract of dredging a river-bed for government entity

In re Dredging and Desiltation Company Private Limited (GST AAR West Bengal)

It appears from the description of the work that it improves the navigability of the river-bed and channels - an activity toward development of irrigation and waterways. It is, therefore, an activity in relation to the function listed under SI No. 5 of the Eleventh Schedule, as entrusted to a Panchayat under Article 243G of the Constituti...

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No GST on Renting of residential property for residence to company

In re Borbheta Estate Pvt Ltd (GST AAR West Bangal)

Whether renting a residential property for residential purpose to a company is an exempt supply under GST? It appears that the dwelling units rented to individuals, as described in the relevant contracts, are meant for residential accommodation. The dwelling unit rented to M/s Larsen & Toubro Ltd is a flat in the housing complex named Sou...

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No GST TDS on conservancy & waste management service to municipality

In re Time Tech Waste Solutions Private Limited (GST AAR West Bangal)

Whether TDS notifications applies to conservancy and waste management service to a municipality and and whether he is required to obtain registration under the GST Act even if he is making exempt supplies only....

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Invoices reported in Form GSTR 1 of FY 2017-18 cannot be amended

Taxpayers could have amended their invoices, reported in Form GSTR 1, pertaining to the financial year 2017-18, till the due date of filing of Form GSTR 1 of March, 2019. Since, due date of filing of Form GSTR 1, for the month of March, 2019 has already passed, no amendments in invoices reported in Form GSTR 1 pertaining to the financial ...

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Pre Arrest Protection: Lessons from Decision in P.V. Ramana Reddy

Celebrated case of P.V. Ramana Reddy decided by Telangana High Court on 18-04-2019 has been left unperturbed by Supreme Court in [2019] 106 taxmann.com 301 (SC) and pronounced on 27-05-2019. In Sapna Jain & Ors also, Supreme Court has advised that High Courts while entertaining pre arrest petitions will Keep in mind the order of [&hel...

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Maharashtra Tax Laws (Second Amendment and Validation) Bill, 2019

L. A. BILL No. XXXVII OF 2019 (28/06/2019)

The Maharashtra Value Added Tax Act, 2002 is being amended,— (a) to enable grant of refunds or determination of net tax payable, in respect of those dealers, who are being assessed under section 23(5) of the said Act, after adjusting amount of refund claimed in the returns or mentioned in the audit report ;...

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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.

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