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 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 : Haryana revives entry tax after 8 years, sparking legal concerns. Understand the implications, recovery limits, and legal remedies...
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...
A number of tax administrations in the world have established special systems to administer their large taxpayers. In the 1950s and 1960s, several OECD countries introduced special tax audit operations for large corporations. Following the international practice, the Centre Governmenthas also adopted the concept of the Large tax payer unit in the year 2006.
GST is intend to cover larger number of people under its net and further keeping threshold exemption limit of 10Lakhs many people would come under GST net. Small tax payers may not have sufficient infrastructure, knowledge, awareness etc., in complying with various provisions of law including accounting, IT/ERP availability, and huge paper work.
1. Application for registration-(1) Every person, other than a non-resident taxable person, a person required to deduct tax at source under section 37 and a person required to collect tax at source under section 43C, who is liable to be registered under sub-section (1) of section 19 and every person seeking registration
1. Tax invoice (1) Subject to rule 5, a tax invoice referred to in section 23 shall be issued by the supplier containing the following details:‑(a) name, address and GSTIN of the supplier;(b) a consecutive serial number containing only alphabets and/or numerals, unique for a financial year;(c) date of its issue;(d) name, address and GSTIN/ Unique ID Number, if registered, of the recipient;
The electronic tax liability register under sub-section (7) of section 35 shall be maintained in FORM GST PMT-1 on the Common Portal and all amounts payable by a taxable person shall be debited to the said register.
In the present system of taxation every company in the retail sector plans locations of its warehouses and branches in order to avoid cost of CST. Suppose if a retailer is located in Delhi and it procures material from a manufacturer in Maharashtra then normally they prefer the route of stock transfer against f form to avoid CST although loss of retention is borne overall.
The dispute in entire world including Australia , New Zealand, UK, EU etc pertaining to the liability to pay GST towards payments made in lieu of court orders, settlements, compromises, penalties, appropriations etc were related to the following aspects :
The proposed implementation of GST, a destination based consumption tax, has been designed as a dual VAT, keeping in view the unique federal nature of India’s Constitutional Polity. The different imperatives driving this reform and role of GSTN in achieving them is briefly spelled out below
Goods and Services Tax (GST) is levied on the taxable supplies of goods and services. The principle that is generally adopted for levy of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may at the point of consumption. Goods being tangible do not pose any significant problems for determination of their consumption.
One of the distinctive features of Goods and Services Tax is that it is levied on the value addition on each stage of supply chain. This is achieved by allowing input tax credit (ITC) of tax incidence on the immediately preceding stage of supply chain. Illustratively, the tax paid by manufacturer supplier is available as ITC to whole seller.
