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 : Discover the structure, powers, and recent updates of the GST Council in India, including key decisions from the 53rd GST Council ...
Goods and Services Tax : Explore GST exemptions for educational institutions under Notification 12/2017(CTR) and case laws. Learn how these exemptions appl...
Goods and Services Tax : Understand Input Tax Credit (ITC) under GST: Learn about eligibility, conditions, and types of ITC. Stay updated with latest amend...
Goods and Services Tax : Understand the time limit to avail Input Tax Credit (ITC) under Reverse Charge Mechanism (RCM) and the implications for registered...
Goods and Services Tax : State directives needed to stop police from illegally checking invoices/e-way bills, hindering trade. Only GST officials have this...
Goods and Services Tax : Explore the major recommendations from the 53rd GST Council Meeting, including changes in GST rates, trade facilitation measures, ...
Goods and Services Tax : Explore the interoperable services of E-Invoice1 and E-Invoice2 systems, boosting efficiency and reliability for taxpayers. Learn ...
Goods and Services Tax : Discover the latest API updates for E-Invoice and E-Way Bill systems, including interoperable services and new error codes for sea...
Goods and Services Tax : Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC co...
Goods and Services Tax : CBI arrests CGST Superintendent and Inspector in Solan, HP, for demanding and accepting Rs.8000 bribe, leading to searches and ong...
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 : Delhi High Court rules that GST registration cancellation is not contingent on pending tax liabilities. Shri Sai Metals' petition ...
Goods and Services Tax : Read the detailed analysis of Madras High Court's judgment remanding a GST order involving Tvl. Harshini Exports. Understand the i...
Goods and Services Tax : Dive into the classification of Fortified Rice Kernels (FRK) under GST laws. Understand the ruling, implications, and applicable n...
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...
Goods and Services Tax : Learn how exporters can claim refund of additional IGST paid due to price increases post-export. Details on application process an...
The GST is a taxation system where there is a single tax in the economy for goods and services. This Taxation System is meant to create a single taxation system in the entire country for all goods and services. GST is destination based tax. The GST is called Single biggest tax reforms after independence.
No. F.3(25)/Fin(Rev-I)/2015-2016/dsvi/954 Provided that in case of following goods, the tax credit shall be reduced by 100 percents: (i) Un-manufactured tobacco, tobacco and tobacco products in all forms such as cigarettes (irrespective of form and length), chewing tobacco, gutkha, cigars, hooka tobacco, khaini, zarda, surti, bidis etc.;
In this article I have discussed the provisions related to Input Tax Credit (ITC), Returns and Matching of ITC as proposed in report of Sub-Committee-II on Model GST Law. A. Input Tax Credit:-Section 18 of GST Act, 2016, deals with provisions related to Input Tax Credit (ITC). Sec. 2(36) states that Input tax means IGST/CGST/SGST paid/charged on supply of Goods/Services which are used, or are to be used, in the course or furtherance of his business.
It is a known fact that Dual VAT/GST Model has been sought to be brought in place in India. The common thought of people of the country is that why National VAT/GST has been brought instead of Dual VAT/GST and does the lawmaker’s were not farsighted enough about the option of National GST rather than Dual GST.
♠ Input Tax Credit means credit of input tax. ♠ Every taxable person is entitled to take credit of input tax. ♠ Input tax means the IGST, CGST or SGST/ IGST and CGST/ IGST and SGST charged on any supply of goods/ services which are used, or are to be used, in the course or furtherance of business.
The broad framework of GST model proposed for India now being clear, well-designed and well-functioning Information Technology (IT) infrastructure facility would be a precondition and pre-requisite for smooth administration of taxpayers, processing of returns, controlling collections, making refunds, auditing taxpayers, levying penalties etc. in the new regime.
Goods and Service Tax-A dual tax system, proposed in the report submitted by the Joint Working Group of the Empowered Committee of the State Finance Ministers in November 2007, was to be implemented in April 2010,one for the Centre and other for the states replacing the state VAT
CIRCULAR NO. 32 of 2015-16 In partial modification to this department’s Circular No.28 of 2015-16 on the subject cited, above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005 read with section 9(2) of Central Sales Tax Act, 1956, I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online return in Form 9 for the year 2014-15, prescribed under Rule 4 of Central Sales Tax (Delhi) Rules, 2005 to 15/01/2016.
Arun Jaitly (Finance Minister) introduced the Constitution (One Hundred and Twenty second Amendment) Bill, 2014, in Lok Sabha on 19 December, 2014 that was passed by House in 6 May, 2015. After passing the Bill by Lok Sabha, Government attempted to move the Bill for consideration in the Rajya Sabha on 11 May, 2015, but member of opposition repeatedly stalled the Proceeding of the House so, still Bill hasn’t passed by the Rajya Sabha.
One of the key objectives of GST should be to ease the tax compliance in doing business in India. At present, for large and medium enterprises having business across India, one has to get registered in each of the State and Union Territory, have tax persons posted in major big sates for ensuring regulatory compliance under these separate VAT Acts including filing of Returns and Assessments separately for each state.
