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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 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 : CBI arrests Superintendent of Central GST & Central Excise in Berhampur for accepting Rs. 15,000 bribe from complainant regarding ...
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 : Kerala High Court upholds the dismissal of a writ petition, ruling that the common portal can be used for GST order communications...
Goods and Services Tax : Delhi High Court restores GST registration in Rajdhani Trading Co. vs Principal Commissioner case, citing violation of natural jus...
Goods and Services Tax : Detailed analysis of the Delhi High Court judgment in Ace Cardiopathy Solutions Pvt Ltd Vs Union of India, addressing issues with ...
Goods and Services Tax : Detailed analysis of Delhi High Court's judgment on cancellation of GST registration due to non-filing of returns. Key implication...
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...
‘works contract’ means a contract for carrying out any work which includes assembling, construction, building, altering, manufacturing, processing, fabricating, erection, installation, fitting out, improvement, repair or commissioning of any movable or immovable property.
Directorate of Systems, Central Board of Excise and Customs is in the process of releasing an RFP for the appointment of an Implementation Agency for development and maintenance of an application for CBEC’s proposed GST system; maintenance of the existing ACES application and Help Desk, and Training for the users.
Let us understand the words VAT assessment on individual basis. When I say assessment it means to check something of it’s correctness or verification by other person. Similarly VAT as stands for value added tax can be understood as tax on value addition. So can we say that VAT assessment is nothing but verification of tax paid on the value addition.
Goods and Services Tax (GST) is a very simple indirect tax structure, wherein tax paid on goods or services procured by any entity (manufactures, trader or service provider) at first level can be availed as input tax credit while passing on the goods or service to the second level.
Where VAT has been collected without authority of law and Service tax demand also has been raised for the same period then the VAT Assessing Authority is liable to transfer amount of VAT to Service Tax Department. Idea Cellular Ltd. Vs. Union of India [(2015) 57 taxmann.com 293 (Punjab & Haryana)]
Jyoti Electronics (the Respondent) purchased certain goods after payment of Input Tax credit. Thereafter, manufacturer of the goods granted trade discount on the goods purchased during the Assessment Year 2008-09 of an amount of Rs.9,60,183/-.
The refund is a vital activity in VAT regime. The claim for the refund is made by the dealer in the return filed by the dealer and hence the return itself becomes the application for refund. As per the DVAT Act and DVAT Rules, refund has to be given to the applicant within a period of 60 days from the date of application.
The Uttar Pradesh State Government vide the Notification No. K.A. NI-2-729/XI-9(235)12-U.P. Act-5-2008-Order-(133)-2015 dated June 1, 2015 amended Entry 52 of the Schedule – I of the Uttar Pradesh Value Added Tax ACT, 2008 (the UP Vat Act) and exempted all kinds of Footwear including hawai chappals and straps thereof with Maximum Retail Price (the MRP) not exceeding rupees Rs. 300/- per pair subject to the condition that the MRP is indelibly marked or embossed on the footwear itself.
The Goods and Service Tax – An Introductory study written by CA Sudhir Halakhandi in the ICAI CA Journal at the time of start of initial discussion of GST in India has been used as a reference article in the GST bulletin of the Loksabha Secretariat. This bulletin is prepared to introduce the Members of Parliament with the basics of the Goods and Service Tax.
Goods and Service Tax is being glorified as a system of taxation by which economy will take a upward swing and further it will ease the trade and industry with respect to the indirect tax system of the country. The revenue will be increased and the consumers have to pay less tax. Only one indirect tax has to be paid by the trade and industry and all the other indirect taxes will be subsumed in GST.
