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Goods and Services Tax : Discover key GST reforms from Budget 2024 including scope of supply, ITC amendments, and new penalty provisions aimed at simplifyi...
Goods and Services Tax : Learn about compounding offences under GST, including eligibility, process, and penalties. Discover how it helps avoid prosecution...
Goods and Services Tax : Explore the impact of Clause (ca) in Section 10(1) of the IGST Act on the place of supply for unregistered persons. Is the recent ...
Goods and Services Tax : Discover the essentials of the E-way Bill system, its generation process, requirements, and exceptions. Learn how it facilitates s...
Goods and Services Tax : बजट 2024 में GST की धारा 73 और 74 को हटाकर नई धारा 74A लागू की �...
Goods and Services Tax : CBIC detected Rs. 36,374 crore worth of fake ITC in FY 2023-24 involving 9,190 cases. Key measures and data on ITC fraud detection...
Goods and Services Tax : ACAE in association with IDTPF, STAR and TAXGURU announces its most awaited GST CERTIFICATE COURSE. This year’s course is on lit...
Goods and Services Tax : Government discusses bringing petrol, diesel, and LPG under GST. Learn about the proposals, responses, and potential impact on con...
Goods and Services Tax : Explore the July 2024 amendments to Customs Notifications Nos. 29-39 and Explanatory Memorandum to Notification No. 51/2024-Custom...
Goods and Services Tax : Finance Minister lauds GST success, highlights reduced tax incidence, simplified compliance, and eased appeal processes in the Uni...
Goods and Services Tax : Madras High Court quashes GST penalty imposed on Kompress India, citing procedural errors and misinterpretation of GST rules. Vehi...
Goods and Services Tax : Calcutta High Court held that payment made during the course of search cannot be said to be voluntary payment. Such payment made c...
Goods and Services Tax : Calcutta High Court sets aside an order under Section 74(9) of the GST Act, remanding the case due to proceedings held after the t...
Goods and Services Tax : Kerala High Court held that the provisions of Section 7(aa) of the Central Goods and Service Tax Act, 2017 (CGST Act) will have pr...
Goods and Services Tax : Explore the Calcutta High Court ruling in Shiva Chemicals & Anr. Vs Assistant Commissioner of Revenue, focusing on Input Tax Credi...
Goods and Services Tax : View the detailed report on gross and net GST revenue collections for June 2024. Learn about the growth percentages and year-to-da...
Goods and Services Tax : GST registration in Uttarakhand now includes biometric Aadhaar authentication and document verification. Learn the updated process...
Goods and Services Tax : Learn about the new FORM GSTR-1A, an optional facility to amend or add missed GST supply details before filing GSTR-3B. Available ...
Goods and Services Tax : Discover the CBIC July 2024 newsletter highlights including NTRS 2024 findings, RoDTEP benefits for SEZs, and a crackdown on gold ...
Goods and Services Tax : Kerala GST clarifies scrutiny notice processing under section 61 of KSGST Act 2017. DSTOs/ASTOs to handle notices post-restructuri...
Introduction: This article discusses in detail about GST on Travel Agents & Tour Operators & its related aspects. Air Travel Agent An Air Travel Agent earns two types of income: commission from the Airlines for booking of air tickets; income in the form of processing fees etc. from the client for whom he books the […]
What will be the GST implication if a manufacturer were to deliver goods by road to the customers using his own vehicle and charges freight in his bill that freight will be part of value of goods and GST payable on total value at same rate as of goods
GST (Goods & Services Tax), a single unified tax system aims at uniting Indias complex taxation structure to a One Nation- One Tax regime. It is the biggest tax reform since India’s independence.
But with the introduction of the GST in India, it is going to change the commercial tax scenario prevailing in the fishing sector. Stakeholder are of the view that it is will hit hard. Almost all the items related to fisheries sector are subject to GST.
GST Portal provides simple-to-use Offline Utility for uploading invoice data and other records for creating GSTR-1. Download and Install the Offline tool on your computer. Enter/Import all invoice data in downloaded Excel template.
In the case of a certain lease of film/television content rights, there was a controversy as to whether the transactions were that of a sale of goods or providing services. If the transactions were considered as a sale of goods then VAT would be applicable else, Service Tax would have been applicable by considering under the ambit of service
One of the key areas, which GST has impacted, is Input Tax Credit or ITC. Input Tax Credit is not a new concept and it existed before GST also. However, ITC under VAT (Value Added Tax) was a different concept. It is basically a is a charge on the supplies of inputs i.e., raw materials. It is imposed by the government on the person who receives such supplies of goods and services for business purpose.
To ensure the smooth roll out of GST, the timeline for invoice-wise return filing in Form GSTR-1 and Form GSTR-2 for the first two months has been extended, and in lieu of Form GSTR 3, summarized details of outward and inward supplies in Form GSTR-3B are required to be submitted. This arrangement is mainly for the purpose of arriving liability under GST and payment of tax thereof.
The ICAI Head Office vide Advisory No. 1 dated 30th June 2017 has directed that Under Section 7 of the CGST Act, 2017, levy of 9%+ 9% Is applicable on Fees from Members for all payments received In the Institute with effect from 1st July 2017
Small taxable person supplying goods upto 75 lakhs per annum are eligible for composition scheme. They have to pay GST @ 2% in case of manufacturing & 1% in case of trader & 5% in case of restaurant service.
