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 GST implications for accommodation services post recommendations from the 53rd GST Council meeting. Learn about amendm...
Goods and Services Tax : Explore detailed updates on appeal filing rules, electronic acknowledgements, corporate guarantees, and more from the 53rd GST Cou...
Goods and Services Tax : जीएसटी की 53वीं काउंसिल मीटिंग के बाद जारी अधिसूचन...
Goods and Services Tax : जीएसटी एक्ट की नियमावली में दिनांक 10 जुलाई 2024 से नई...
Goods and Services Tax : Explore the Madras High Court judgment in Amarjyothi Carrying Corporation v. Assistant Commissioner (ST) on entitlement to persona...
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 : 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 Superintendent of Central GST & Central Excise in Berhampur for accepting Rs. 15,000 bribe from complainant regarding ...
Goods and Services Tax : Explore Rajasthan Budget 2024-25 tax proposals with reductions in VAT rates, abolition of certain taxes, and new incentives. Detai...
Goods and Services Tax : Explore the impact of the 53rd GST Council Meeting recommendations, including waivers on interest and penalties under Section 73, ...
Goods and Services Tax : Understand GST ITC eligibility on wires/cables & equipment for electricity transmission. Detailed analysis of Gujarat AAR ruling o...
Goods and Services Tax : The AAR Gujarat rules that nominal charges deducted for canteen services from employees salaries are not subject to GST. Learn mor...
Goods and Services Tax : Explore the GST AAR Gujarat ruling for Vijai Electricals Ltd., covering the applicability of GST on advance payments and the divis...
Goods and Services Tax : Explore the GST AAR ruling on Utkal Coal Mining India Pvt Ltd regarding transportation of coal from mines to railway siding. Learn...
Goods and Services Tax : Explore the GST AAR Odisha ruling on stamp duty and registration fees for mining leases in the case of Geeta Rani Mohanty. Read th...
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 : 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 : Explore CBIC achievements, updates, and recent cases in the July 2024 newsletter from the Ministry of Finance, Department of Reven...
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...
Idea of national GST was first mooted by Kelkar Task Force in 2004. A task force was formed under Chairmanship of Shri Vijay Kelkar on Implementation of Fiscal Responsibility and Budget Management Act. The Kelkar Committee submitted its report in July 2004. The Committee strongly recommended fully integrated ‘GST’ on national basis. Since then there have been several government documents on this subject of GST. Out of these several government documents following reports were presented were most relevant and important:
VAT/GST provisions in countries other than India are quite streamlined and stable. As the Law in India is still not a reality we might look into the provisions which are in place since quite long and access the structure of rate, exemptions etc.
It would be mandatory for registered dealers to furnish return electronically in Form No. GST-I, which would be a combined monthly payment and return form for all intra-state and inter-state transactions. Periodicity of furnishing this return would be monthly. Electronic filing of any other returns could also be mandatory and forms could be common for both CGST and SGST compliance.
First paper on Goods and Service tax (‘GST’) was introduced on 10 November 2009 since then there is a constant wait among professionals and industrialists for Goods and Service tax legislature. Pending the clearance of issues involved in GST regime there was a report of Task force on 15 December, 2009. This report deals with several issues in detail and lays down the path of GST in India. We here under try to summarize the report of 170 pages only in few pages.
I happened to meet quite a few businessmen in last few weeks and who were unable to appreciate the importance of Zero rating of goods. I made them understand the benefits of proposed scheme of “zero rating” over current scheme of “exemptions”. This made them change their status from “Anti-GST” to “Appreciating GST”. Seeing this I bring before you a complete guide to Zero rating vs. Exemptions vs. No tax Economy.
Services by medical practitioners and pathologists; Services by allied health practitioners such as physiotherapists, naturopaths, nurses and optometrists; Hospital treatment; Disability services; Medical aids and appliances; Pharmaceuticals; Health insurance.
Value Added Tax was introduced in Indian tax structure way back in 2003 and even today not every state has implemented this tax. Small and medium enterprises (SME) have also not been well settled with VAT law and our government has taken over the task of introducing new statutes for implementation of Goods and Services tax.
GST is been postponed by our Hon’ble Finance Minister, however it is still a constant matter of worry for importers and exporters in Indian continent. Through this article, I try to analyze and present before you a analysis on impact of GST on our imports and exports.
Twofold GST: A dual GST with defined functions and responsibilities of the Centre and the States is recommended. An appropriate mechanism that will be binding on both the Centre and the States should be worked out whereby the harmonious rate structure along with the need for further modification could be upheld, if necessary with a collectively agreed Constitutional Amendment.
1st April 2011 is proposed as new date for its implementation. He recognized several developments in the field of computerization, which are ultimately targeted eventual implementation of GST. He also clearly stated that he is not increasing the service tax rate to 12% in view of convergence with GST in future.
