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 : Finance Minister Nirmala Sitharamans budget missed crucial GST changes. Discover amendments in GST laws and their impacts for busi...
Goods and Services Tax : Discover the major GST and Customs changes proposed in Budget 2024-25. Key updates include reverse charge GST, assessment procedur...
Goods and Services Tax : Explore the effects of Union Budget 2024-25 on CGST provisions. Detailed analysis of amendments to levy, composition, ITC, recover...
Goods and Services Tax : Explore the concept of "control" under the GST Act, 2017, and understand its implications on related persons' transactions, commer...
Goods and Services Tax : Explore the 53rd GST Council clarification on corporate guarantee valuation, recent Supreme Court decisions, and the impact on GST...
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 : Bikaner Tax Consultants Association seeks an extension of the Income Tax Return filing deadline due to ITD portal glitches and iss...
Goods and Services Tax : Explore the need for agriculture reforms, GST implications on mechanized inputs, and government measures to support Indian farmers...
Goods and Services Tax : GST collections have risen steadily each month up to June 2024. No pending dues to states; Bihar and others have raised fiscal sup...
Goods and Services Tax : Read the detailed analysis of Telangana High Court's judgment on Himani Navaratan Oil, Gold Turmeric Ayurvedic Cream, and other pr...
Goods and Services Tax : Gujarat High Court quashes vague show cause notice against KRD Enterprise, highlighting need for detailed grounds in GST registrat...
Goods and Services Tax : Delhi High Court's ruling in Green Polymers Vs Union of India invalidates GST cancellation and restores the petitioner’s GST reg...
Goods and Services Tax : Madras High Court remands case of Sakthi Industries Vs Deputy State Tax Officer-I, citing breach of natural justice. Petitioner al...
Goods and Services Tax : Madras High Court sets aside penalty order for GST non-compliance, allowing Prakash Fabricators & Electricals to contest late fee ...
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 : Explore the integrated services of NIC-IRP e-invoice-1 and e-invoice-2 portals, launching on July 18th, 2024. Learn about seamless...
Goods and Services Tax : Explore CBIC achievements, updates, and recent cases in the July 2024 newsletter from the Ministry of Finance, Department of Reven...
Goods and Services Tax : GST rates on solar cookers, fire water sprinklers, parts of poultry-keeping machinery, pre-packaged agricultural produce and suppl...
Goods and Services Tax : Latest GST clarifications on services including Indian Railways, RERA, digital payments, insurance schemes, and accommodation serv...
Every Supplier shall be liable to be registered under GST Act if -his aggregate turnover in a financial year exceeds the THRESHOLD Limit -registered or who holds a license under an earlier law e.g. State Vat, Service Tax, Excise Duty etc. -liable to be registered under Compulsory Registration
Interest is a consideration for allowing someone to use your money. It could be termed as Compensation paid to one who allows his money to be used by another person. This is a common understanding and no big brains are required to understand this proposition.
Taxable person would therefore, cover both – one who are registered as taxable person under the Act and two, persons who are not so registered but required to be so registered. Thus, even unregistered person would be called a taxable person liable as such under the Act.
Q 1. What are the basic objective of Settlement Commission? Ans. The basic objectives of setting up of the Settlement Commission are:- i. to provide an alternate channel for dispute resolution for the taxpayer; ii. to expedite payment of GST involved in disputes by avoiding costly and time consuming litigation process; iii. to provide an opportunity to tax payers to come clean who may have evaded payment of tax;
The journey to rollout the Goods and Services Tax (GST) has commenced with the enactment of the 101st Constitution Amendment Act, 2016 on 8th September, 2016 and the subsequent notifications. The Government is committed and has set in motion a slew of steps to ensure that the GST conies into force from 1st of April, 2017. In this backdrop, the role of CBEC is of utmost significance and importance.
Commissioner of Sales Tax, 8th floor, Vikrikar Bhavan, Mazgaon, Mumbai- 400 010. CORRIGENDUM To No. DC (A&R)/VAT/MMB-2015/62/ADM-8 Mumbai, dated: :23.09.2016 Trade Circular No. 28T of 2016 Sub:- Grant of Administrative Relief. Ref:- Trade Circular No. 13T of 2016 dated 5th May 2016. Sir/ Madam, Trade Circular No. 13T of 2016 dated 5th May 2016 is […]
Section 55 of the MVAT Act, 2002 was provided for Advance Ruling. However, though in existence since 2005, it was not brought into force. New Provision: Now, existing Section 55 has been substituted by new section 55 and brought into force with effect from 15t May 2016. Section 56 of the MVAT Act, 2002 providing for determination of disputed question (DDQ) has been deleted with effect from 15t May, 2016.
The Goods and Service Tax is a levy on supply. All intra-states supplies attract Central and State GST whereas all the inter states supplies attract IGST. Hence, Supply is at the root of GST. This is our second article in the series wherein we discuss on the term supply and its relevance in current tax structure.
The Model GST Law was kept in the public domain in June 2016. It is a race against the time in order to implement the GST across the entire country by 1st April 2017.From origin based taxation system (in case of Excise and VAT/CST), GST will shift to consumption based tax system (i.e. the Taxes will go to the states where the goods and / or services are consumed).
(1) As per Section 35 Payment of Tax, Interest, Penalty and other amount of Chapter IX of GST Model Law, Every deposit made towards tax, interest, penalty, fee or any other amount by a taxable person by Internet Banking, Credit Card/ Debit Card, NEFT/RTGS or any other mode shall be credited to the Electronic Cash Ledger of such person and date of credit shall be deemed to date of deposit.
