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Goods and Services Tax : Discover the challenges faced by dealers when GST ITC is blocked. Learn expert advice, legal insights, and potential actions to re...
Goods and Services Tax : Discover how the Odisha AAR allows ITC on exempt services where the supplier has charged GST. Understand conditions and implicatio...
Goods and Services Tax : Explore the complexities and arbitrary nature of GST provisions on Corporate Guarantees. Understand legal effects, tax implication...
Goods and Services Tax : Learn about offering post-sale discounts under GST with our compliance checklist. Understand legal frameworks, challenges, GST Cou...
Goods and Services Tax : 53rd GST Council Meeting: Key recommendations include GST rate changes, trade facilitation, compliance streamlining, and taxpayer ...
Goods and Services Tax : Explore the impact of the 53rd GST Council Meeting recommendations, including waivers on interest and penalties under Section 73, ...
Goods and Services Tax : Read about the CBI apprehending a CGST Inspector in Rajkot for accepting a bribe of Rs 2.50 lakh. Detailed analysis of the case an...
Goods and Services Tax : Read about CBI's arrest of an Assistant Commissioner at GST Commissionerate, Guwahati, for demanding and accepting Rs. 50,000 brib...
Goods and Services Tax : India GST revenue for May 2024 reached ₹1.73 lakh crore, marking a 10% year-on-year growth. Discover the details and trends driv...
Goods and Services Tax : The 53rd GST Council Meeting, chaired by Finance Minister Nirmala Sitharaman, produced several key recommendations aimed at easing...
Goods and Services Tax : AAAR Tamil Nadu rejects TANGEDCO's application, citing pending Supreme Court decision on the matter, ensuring adherence to GST Act...
Goods and Services Tax : Discover how the Madras High Court overturned the Additional Commissioner's decision in Sunbeam Generators Pvt. Ltd. Vs Additional...
Goods and Services Tax : Read the Madras High Court's judgment setting aside an unreasoned GST demand order against Ford India, citing GSTR 9 and GSTR 2A m...
Goods and Services Tax : Madras HC remands Orient Electricals & Engineers India's case on GST liability and ITC reversal for reconsideration, highlighting ...
Goods and Services Tax : Explore the Madras High Court's decision in Banyan Engineers Contractors Vs Deputy State Tax Officer-2 regarding GST liabilities a...
Goods and Services Tax : Explore the constitution & members of the Advance Ruling Authority under Maharashtra VAT Act 2002. Detailed analysis on its implic...
Goods and Services Tax : Explore the latest enhancements in GST registration address fields: new validations, user instructions, and impacts on existing da...
Goods and Services Tax : Explore CBIC's latest newsletter marking 7 years of GST, commendations to officers, global customs agreements, anti-drug initiativ...
Goods and Services Tax : CGST Circular clarifies GST time of supply for spectrum usage services under deferred payment option, ensuring uniform application...
Goods and Services Tax : Clarification on GST time of supply for construction and maintenance services in NHAI Hybrid Annuity Mode (HAM) model. Key guideli...
In 23rd GST Council Meeting. GST rate reduced for various goods and services mainly for 28% slab rate. The GST rates changes will tremendously reduce the tax burden on the common man and boost the economy.In this article, we look at a summary of GST rate changes announced in the 23rd GST Council Meeting held […]
All businesses to file GSTR-1 and GSTR-3B till March 2018. GSTR-2 and GSTR-3 due dates will be notified soon. Changes in Composition Scheme – Composition scheme limit to be increased to Rs 1.5 crore (can be extended to Rs 2 crore later). – GST rate of 1% for manufacturers & traders – Composition tax of 1% on turnover of taxable goods (turnover of exempted goods to be excluded)
Composition Scheme under GST is not beneficial for traders who are dealing in products covered by GST slab rate of 5%. Small traders opt for Composition Scheme only to avoid GST compliances and heavy charges payable to Chartered Accountants.
In the 23rd meeting of GST Council held at Guwahati, Assam on 10.11.2017, the following decisions relating to exemptions / changes in GST rates / ITC eligibility criteria, rationalization of rates / exemptions and clarification on levy of GST on services were taken.
In terms of para 2.52 of the Indian Foreign Trade Policy (2015-2020) exports proceeds from Nepal and Bhutan can be realized in Indian rupees. However, in GST law, Export of Goods and Export of Services are treated differently
Zero rated supplies are those supplies on which you can claim input but Vat is charged at zero rate. To understand better we should first understand the definition of Taxable Supply.
A. List Of Goods On Which GST RATE RECOMMENDED FOR REDUCTION FROM 28% TO 18% B. LIST OF GOODS ON WHICH GST Rate Recommended For Reduction From 28% To 12% C. Goods Recommended To Be Retained At 28% GST RATE:
New version of GSTR-2 offline tool is available on GST portal now. You can use this tool to export data of GSTR-2 from Tool to Excel. This will also help you in comparing data with purchase register to take actions like accept, reject and modify for receiver.
Recommendations made by the GST Council in the 23rd meeting at Guwahati on 10th November, 2017 Return Filing a) The return filing process is to be further simplified in the following manner: i. All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018. […]
i. All stand-alone restaurants irrespective of air conditioned or otherwise, will attract 5% without ITC. Food parcels (or takeaways) will also attract 5% GST without ITC. ii. Restaurants in hotel premises having room tariff of less than Rs 7500 per unit per day will attract GST of 5% without ITC.