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 : Clarifies GST liability on oil tanker lease charges, emphasizing exemption for owners under Notification 12/2017....
Goods and Services Tax : Explore the November 2024 GST Case Law Compendium, analyzing key rulings from the High Court & Supreme Court on tax demands, regis...
Goods and Services Tax : Supreme Court rules on ITC restrictions for construction under Section 17(5) of CGST Act in Safari Retreats Case. Clarifies "plant...
Goods and Services Tax : GST compliance on Buy One Get One Free offers, secondary discounts, and issuance of credit notes clarified by CBIC, including Inpu...
Goods and Services Tax : Learn about the GST Amnesty Scheme 2024, Section 128A, and its process for interest & penalty waiver for taxpayers from 1st July 2...
Goods and Services Tax : GSTN alerts taxpayers about duplicate invoices in GSTR-2B for September and October 2024. Resolution is underway; QRMP taxpayers a...
Goods and Services Tax : Mumbai court sentences former CGST Superintendent and his wife to 2-4 years in prison for possessing disproportionate assets. Tota...
Goods and Services Tax : AGFTC and ITBA urge the issuance of standardized guidelines for GST adjudication to enhance clarity, reduce litigation, and ensure...
Goods and Services Tax : The Second National Conference of GST Enforcement Chiefs focused on addressing fake registrations and enhancing compliance through...
Goods and Services Tax : CGST Thane invites EOIs for empanelment of Chartered and Cost Accountants for GST special audits. Submit by October 27, 2024....
Goods and Services Tax : Patna HC restores GST appeal under BGST Act with conditions for payment, following a dismissed appeal due to delayed filing....
Goods and Services Tax : Madras HC revokes GST registration cancellation for Creatxia after failure to file returns due to father-in-law’s death. Conditi...
Goods and Services Tax : Gujarat HC sets aside GST order without detailed backing, lifting bank attachments on Kisan Mouldings accounts, citing procedural ...
Goods and Services Tax : Bombay HC permits Pepperfry to file a belated reply to GST SCN, imposing Rs. 50k cost, and restores the matter before the concerne...
Goods and Services Tax : GST Act allows alternate methods of authentication, and technical lapses, such as missing signatures, do not invalidate proceeding...
Goods and Services Tax : The Supplier View functionality in GST IMS allows suppliers to track actions taken by recipients on invoices, ensuring better tr...
Goods and Services Tax : GSTN issues advisory on the new Invoice Management System (IMS) for accepting or rejecting supplier invoices, impacting GSTR-2B an...
Goods and Services Tax : Maharashtra GST Department allows offline processing of audits for FY 2020-21 due to technical issues, with instructions for manua...
Goods and Services Tax : The 18th Customs Consultative Group meeting discussed trade issues. Vigilance Awareness Week focused on integrity, with highlights...
Goods and Services Tax : GST waiver scheme offers relief for tax disputes, waiving interest and penalties if full tax is paid by March 31, 2025....
The understanding of any legal provision is personal to the individual – be it assessee, professionals / consultants or revenue officers. This can be challenged. However, judge’s interpretation becomes the court’s stand.
Electronic Way Bill >Information to be furnished prior to commencement of movement of goods and generation of e- way bill Conditions: Every registered person, movement of goods , consignment value> Rs.50,000. > Scenario: in relation to a supply; or for reasons other than supply; or due to inward supply from an unregistered person > Requirements to […]
Section 132 provides for list of offences which shall be punishable with gradation of fine and imprisonment depending on the amount of tax evaded or the amount of input tax credit wrongly availed or utilized or the amount of refund wrongly taken. This clause also provides for offences which shall be non-cognizable and bailable or cognizable and non-bailable.
THE BIHAR GOODS AND SERVICES TAX ACT, 2017 AN ACT to make a provision for levy and collection of tax on intra- State supply of goods or services or both by the State of Bihar and the matters connected therewith or incidental thereto
Many Indian companies donot have proper tracking of their credit reversals and re-availments because of not properly accounting the credit reversals and reavailments in the books of accounts.
Let us discuss in this paper how GST enables better tax compliance, willingness of taxpayers to comply with a tax system and make the country move towards tax compliant society.
GSP means GSTN (Goods and Service Tax Network) Suvidha Provider which is considered to play a pivotal role in the roll out GST. It is also considered as the activator to the businesses for a paperless tax compliance regime and brings more ease in doing business.
During the transition of Local Government General sales tax to State VAT and the subsequent initiatives of E Governance, similar to GST, many state Governments made various attempts. But they did not bring the desired result.
GST law provides for Goods and Services Tax Compliance Rating which is a new concept in India. Presently, there is no system of compliance rating under any tax laws in India. GST compliance rating is a concept which will be experimented as a legal provision for the first time in our country. Accordingly, every taxable person shall be assigned a GST compliance rating score based on his record of compliance with the provisions of the GST Act. Every taxable person irrespective of its nature or size or turnover shall be assigned a GST compliance rating.
In the GST regime, for any intra-state supply, taxes to be paid are the Central GST (CGST, going into the account of the Central Government) and the State GST (SGST, going into the account of the concerned State Government). For any inter-state supply, tax to be paid is Integrated GST (IGST) which will have components of both CGST and SGST. In addition, certain categories of registered persons will be required to pay to the government account Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).
