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 : 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 : 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 : 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 : Calcutta High Court quashes GST penalty and goods detention, ruling no intent to evade tax. Authorities directed to release goods ...
Goods and Services Tax : Andhra Pradesh HC quashes GST assessment order due to missing DIN, citing Supreme Court and CBIC guidelines. Fresh assessment dire...
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 : 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...
Goods and Services Tax : GST applicants in Maharashtra & Lakshadweep must complete biometric Aadhaar authentication & document verification at GST Suvidha ...
Introduction For the purpose of computation of GST on second hand goods let us divide the second hand goods into 2 parts:- 1. Second hand vehicles 2. Other Second hand goods Concept of Margin Scheme under GST In GST law the outward tax is always payable on the Sale Value of goods sold, like in […]
Q.1 Who is the person responsible to make assessment of taxes payable under the Act? Ans: Every person registered under the Act shall himself assess the tax payable by him for a tax period and after such assessment he shall file the return required under section 39.
Q.1 What is the purpose of returns? Ans: a) Mode for transfer of information to tax administration; b) Compliance verification program of tax administration; c) Finalization of the tax liabilities of the taxpayer within stipulated period of limitation; to declare tax liability for a given period; d) Providing necessary inputs for taking policy decision; e) Management of audit and anti-evasion programs of tax administration.
Q.1 What is Input Service Distributor (ISD)? Ans: ISD means an office of the supplier of goods or services or both which receives tax invoices towards receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax (CGST),
Q 1. What is input tax? Ans. Input tax means the central tax (CGST), State tax (SGST), integrated tax (IGST) or Union territory tax (UTGST) charged on supply of goods or services or both made to a registered person. It also includes tax paid on reverse charge basis and integrated tax goods and services tax charged on import of goods. It does not include tax paid under composition levy.
Q.1 What is job work? Ans: Job work means undertaking any treatment or process by a person on goods belonging to another registered taxable person. The person who is treating or processing the goods belonging to other person is called job worker and the person to whom the goods belongs is called principal.
Cabinet approves creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the creation of National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT). The National Bench of the Appellate Tribunal shall be situated at New […]
Background: On the eve of new year, GST Council present a box full of sweets, to business entity in the form of allowing the ITC till March 2019 GSTR 3B, extend the GST Audit to 30.06.2019 etc., beside some of supplies added into list of supplies on which tax to be payable by recipient w.e.f. […]
Under the GST regime, the GST return is required to be filed by all persons registered under GST. In this article, we will discuss the different types of GST returns and the due dates. Who is required to File Return under GST? All registered persons under the GST irrespective of whether they have done any business […]
Indians and specifically women of India are very much found of gold jewellery. After the implementation of Goods and Service Tax on 1st July, 2017, the price of gold has seen some fluctuations due to the additional tax burden. Under the earlier tax regime 1% service tax was levied on the gold and 1% VAT […]
