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Goods and Services Tax : Learn about Input Credit Reversal under Sec 16(2) of GST, its conditions, impact on buyers and sellers, and compliance requirement...
Goods and Services Tax : Explore the implications of Section 16(2)(c) of the CGST Act, balancing taxpayer rights and government revenue in Input Tax Credit...
Goods and Services Tax : Learn about Section 128A of CGST Act, introduced to reduce litigation in non-fraud cases, covering tax waivers, notified dates, co...
Goods and Services Tax : Learn how to address GST notices on excess ITC claimed in GSTR-3B compared to GSTR-2B with structured replies, reconciliation step...
Goods and Services Tax : The article analyzes the key GST provisions for e-commerce, focusing on regulatory frameworks, compliance requirements, and associ...
Goods and Services Tax : The GST Council has deferred decisions on insurance premium taxation, granting more time to the GoM to finalize its recommendation...
Goods and Services Tax : Tirumala Tirupati Devasthanam gets GST exemptions on religious services, but GST of ₹36.28 crore was paid in 2024-25. Details of...
Goods and Services Tax : NBEMS stopped collecting GST on course fees per court order. Refund processing has begun, but no enquiry has been instituted. Deta...
Goods and Services Tax : Tobacco tax revenue contributed 1.27%-2.75% of Gross Tax Revenue from 2016-2024. Funds are allocated across government programs, i...
Goods and Services Tax : The GST Council deferred a decision on reducing GST on health and life insurance premiums in its 55th meeting as GoM sought more t...
Goods and Services Tax : Andhra Pradesh HC quashes GST assessment order due to missing DIN, citing Supreme Court and CBIC guidelines. Fresh assessment dire...
Goods and Services Tax : Supreme Court rejects SLP of Goverdhandham Estate against Rajasthan HC's decision in GST dispute over ITC eligibility on elevators...
Goods and Services Tax : Madras High Court directed granting of one final opportunity of being heard as demanded by assessee on payment of 10% of the dispu...
Goods and Services Tax : Petitioner runs a hotel and registered under GST. It was issued a notice in GST ASMT-10 intimating certain discrepancies which sta...
Goods and Services Tax : Kerala HC orders IGST refund decision within two months, reviewing the petitioner’s “risky exporter” status. Refund claim pe...
Goods and Services Tax : CBIC detects Rs. 18.10 crore GST evasion in real estate and organizes a CPR training workshop for officers. Post-Budget discussion...
Goods and Services Tax : Maharashtra establishes GST Suvidha Kendra for Aadhaar-based biometric authentication and document verification for new GST regist...
Goods and Services Tax : Clarified procedure for appeals under Section 128A of CGST Act 2017, addressing disputes on interest and penalty where tax is full...
Goods and Services Tax : GST applicants in Maharashtra & Lakshadweep must complete biometric Aadhaar authentication & document verification at GST Suvidha ...
Goods and Services Tax : GST advisory clarifies E-Way Bill rules for goods under Chapter 71, excluding HSN 7117. Mandatory in Kerala; voluntary EWB generat...
GST is a consumption / destination based tax wherein tax revenue should go to the state where goods/services have been consumed. In technical term such state is determined based on provisions of place of supply (POS) elaborated in Section 10, 11, 12 & 13 of the IGST Law.
The GST law contains a unique provision on anti-profiteering measure as a deterrent for trade and industry to enjoy unjust enrichment in terms of profit arising out of implementation of Goods and Services Tax in India, i.e., anti-profiteering measure would obligate the businesses to pass on the cost benefit arising out of GST implementation to their customers.
Section 10 and its related draft composition rules of CGST bill talks about the composition levy. The basic principle underlying the composition scheme is, to minimize the burden of compliance for small taxpayers. There are around 8 million taxpayers that are expected to be migrated from the current laws into the GST regime
Anti-Profiteering provision has been incorporated into GST law, to ensure that the reduction of tax incidence is passed on to the consumers. Profiteering is defined as the sale or offering for sale any basic necessity or prime commodity at a price grossly in excess of its true worth.
1. Value of supply of goods or services where the consideration is not wholly in money:- Where the Value of supply of goods or services where the consideration is not wholly in money, the value of supply shall be; a) The open market value (OMV) of such supply. b) If OMV is not available, the […]
While much has already been spoken about the seamless flow of credit under the GST regime by the GST campaigners, any transition to a new law should be impartial for the migrating tax payers to ensure its smooth acceptability. The transitional provisions covered in Section 140 to Section 142 of the CGST Bill, 2017 give […]
THE Uttar Pradesh GOODS AND SERVICES TAX BILL, 2017 A BILL to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the State of Uttar Pradesh and the matters connected therewith or incidental there to BE it enacted by Legislature of Uttar Pradesh in the […]
Goods and Services Tax (GST) is a proposed system of indirect taxation in India merging around 17 existing taxes into single system of taxation. It was introduced as The Constitution (One Hundred and First Amendment) Act 2016.
The all-powerful Goods & Services Tax (GST) Council in its 13th meeting held at New Delhi decided the followings:- 1. Approval to draft GST rules (5 out of 9) which were released in September 2016 duly aligned with GST law as approved by Lok Sabha on 29 March, 2017
(1) unregistered dealer should have filed the application for registration during the period starting from 18th March 2017 and ending on 30th June 2017. (2) the said dealer shall file the returns for all such un-registered period and make the payment of 100% tax alongwith 25% of the interest payable as per section 30(1) of MVAT Act, on or before 31st July 2017.
