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 : Explore the legality of issuing GST credit notes for B2C supplies under Section 34. Understand the relevant provisions and implica...
Goods and Services Tax : Discover if it's possible to declare GST credit notes in returns after November 30th. Get insights into the legal provisions and p...
Goods and Services Tax : यह कि कुछ कर पदाधिकारी द्वारा जीएसटीR 9 और GSTR-9C के सं...
Goods and Services Tax : Explore Gujarat AAR ruling in M/s. Waaree Energies Limited case, clarifying SEZ units exemption from GST under Reverse Charge Mech...
Goods and Services Tax : Explore basic concepts of tax invoices, credit notes, and debit notes under GST. Learn about their importance, issuance, and compl...
Goods and Services Tax : Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nua...
Goods and Services Tax : In March 2024, India witnesses second-highest GST revenue collection at ₹1.78 lakh crore, marking an 11.5% year-on-year growth. ...
Goods and Services Tax : AGFTC & ITBA highlight issues with GST portal downtime on 10th and 11th April 2024, urging prompt action from authorities....
Goods and Services Tax : Explore the robust growth in GST collection for FY 2023-24, crossing Rs. 20 lakh crore, reflecting economic resilience and improve...
Goods and Services Tax : Explore the Ministry of Finance's report on the second highest monthly GST revenue collection in March 2024, reaching ₹1.78 lakh...
Goods and Services Tax : Anmol Industries Limited's appeal against the GST AAAR West Bengal's ruling on a leasing agreement has sparked legal deliberations...
Goods and Services Tax : Get insights into the GST ruling on paper cup manufacturing, including correct HSN code, tax rate, and refund eligibility. Detaile...
Goods and Services Tax : Explore the GST ruling on input tax credit, tax rates, and classification for demo cars in the case of Landmark Cars East Private ...
Goods and Services Tax : Explore the Kerala High Court directive to GSTN regarding refund claims, errors rectification, and implications for petitioners. D...
Goods and Services Tax : Explore the Kerala High Court's decision in Vadakkot Chackoo Devassy v. State of Kerala, where the assessment order was invalidate...
Goods and Services Tax : Discover the latest developments from the Central Board of Indirect Taxes & Customs regarding the reorganization of CGST zones and...
Goods and Services Tax : GSTN is pleased to inform that an enhanced version of the GST portal would be launched on 3rd May 2024. The effort is to improve u...
Goods and Services Tax : Discover the latest Maharashtra VAT Act amendment providing relief for late filers. Learn about the changes, due dates, and late f...
Goods and Services Tax : Learn about the latest notification from the Maharashtra Finance Department granting late fee waivers for Profession Tax Payers. U...
Goods and Services Tax : Understand the clarifications on GST dues for taxpayers whose proceedings have been finalized under IBC, 2016, as per Circular No....
1. Central and state GST will apply on all transaction of goods and services.2. Tax paid as central GST will be allowed to taken as input tax credit.3. State GST will also be allowed to be taken as input tax credit.
If the Value Added Tax (VAT) is considered to be a major improvement over the pre-existing Central excise duty at the national level and the sales tax system at the State level, then the Goods and Services Tax (GST) will be a further significant breakthrough – the next logical step – towards a comprehensive indirect tax reform in the country.
The GST shall have two components: one levied by the Centre (hereinafter referred to as Central GST), and the other levied by the States (hereinafter referred to as State GST). Rates for Central GST and State GST would be prescribed appropriately, reflecting revenue considerations and acceptability. This dual GST model would be implemented through multiple statutes (one for CGST and SGST statute for every State).
GST is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the producer’s point and service provider’s point upto the retailer’s level. It is essentially a tax only on value addition at each stage, and a supplier at each stage is permitted to set-off, through a tax credit mechanism, the GST paid on the purchase of goods and services as available for set-off on the GST to be paid on the supply of goods and services.
It gives me great pleasure to be here on this occasion when the Empowered Committee under the dynamic leadership of Dr. Asim Dasgupta is releasing its First Discussion Paper on the proposed Goods and Services Tax (GST). At the outset, let me whole-heartedly congratulate all of you for giving shape and form to an idea whose time, I believe, has truly come.
In suppression of the Government Notification, Finance Department, No.VAT-1507/ CR-41/ Taxation-1, dated the 25th June 2007, the Government of Maharashtra hereby provides for grant of refund of the tax, collected by any registered dealer on his sales made to the diplomatic authorities and international bodies or organisations mentioned in column (2) of the Schedule appended hereto, subject to the conditions specified against each of them in column (3) of the said Schedule:—
The Amnesty Scheme is open for the period from 1st August, 2009 to 31st March, 2010 and is called “Profession tax Enrollment Incentive scheme 2009”.
The Finance Minister, Mr Pranab Mukherjee, on Friday hinted at some slippage to the scheduled Goods and Services Tax (GST) system rollout by April 1, 2010. Introduction of the GST, billed as a flagship tax reform measure of the UPA Government, is considered crucial for attracting increased doses of domestic and foreign investments.
After the introduction of the e returns, the dealers were required to make the payment of tax within the prescribed date, but were permitted to upload the e returns within 10 days from the due date prescribed in the said Rule 17 (Please refer Trade Circular No 16T of 2008) Thus the dealers, who paid the tax within the due date and upload the e return within the aforesaid period shall not be treated as late filers.
The Madhya Pradesh government is gearing up to take on Centre over the goods and service tax (GST) issue. If things do not happen its way, the state is likely to challenge the Centre on the issue in the Supreme Court.
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