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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...
Indian federal structure and constitutional powers of states allow both, the Union and States to levy taxes on the subjects in terms of Constitution of India. While there are powers to levy taxes by the Union alone and also States alone, there is also a concurrent list whereby both, states and centre can levy tax simultaneously.
Subsequently, further queries have been received from the Trade and Associations about various provisions of the Settlement Act. Same are examined and considered. So as to mitigate the issues raised, a third set of FAQs are added to the existing FAQ’s. A Trade Circular is being issued and all the earlier FAQ’s are clubbed together.
In this update, I have attempted to discuss definition of electronic commerce comprehensively, keeping in background technical terms used in the definition. The definition assumes importance as the entire taxation of the electronic commerce sector in general and also as aggregator or electronic commerce operator under GST is based upon this definition only.
For smooth implementation of GST in our country it is important to have an inbuilt parallel dispute resolution mechanism assuming various issues in GST regime. Now in international arena two approaches are followed in case of any dispute;
The Real Estate Sector is the fastest growing sector all over the world as well as in India. It is growing rapidly and we can access its growth by demand of affordable housing requirements, proposed development of new cities, initiatives of government for modern cities as Smart Cities.
Registered taxable person shall be eligible to avail ITC credited to the electronic credit ledger subject to condition prescribed. ITC availed by taxable person shall be credited provisionally to electronic ledger. What needs to be noted here is no restriction has been imposed with relation to availment of 50% ITC on capital goods
On daily basis all of us come across shops in our localities which would not issue proper bills or use simple paper to issue bills in case some one asks for it and transact business mostly on cash. They don’t carry any account books or detailed records in respect of their stocks and sale.
Till today, we have seen concept of manufacture (removal of goods), Sale of goods and rendition of service as taxable event for the purpose of taxation in various instruments of indirect taxation. SUPPLY of goods and services is a new concept as taxable event in GST. Is it really new?
You are a Chartered Accountant, Company Secretary or an Advocate into practice of income tax and charge a fee of Rs. 10,000/- for return filing from your clients. You file the return of your wife and get to know that you will have to pay GST of Rs. 1,800/- (considering GST rate of 18%). What would be your reaction?
In this update, I have attempted to discuss those term used in the definition of Electronic Commerce. Though, they are technical terms and it’s hard to understand them without having specialized knowledge but since they form part of the definition of e-commerce, a brief introduction of the same is required to have a better understanding of the definition
