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 : 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...
As per the Draft GST model law and the process documents issued by the Department of revenue. There is a reference of three ledgers that are electronic cash ledger, electronic credit ledger and tax liability ledger.
It is imperative that Trade and Industry should understand key provisions in the Draft Model GST law including the intention of the legislation along with the probable impact on their business operations. We are summarising herewith an overview and key highlights of Draft Model GST Law for easy digest:
Tax Deduction at Source is not a new concept in Indirect Taxes. The TDS Provision were already prescribed in Existing VAT Laws. The Provision of TDS were held Valid by Allahabad High Court in case of V.K. Singhal Vs. State of U.P. ( 1995) 97 STC 355.
There are some taxpayers who occasionally undertake transactions involving the supply of goods and/or services in the normal course of their business as a principal, agent or in any other capacity. They do such transactions at a place where they do not have any fixed place of business. There are two categories of such taxpayers:
The Goods & Service Tax (GST) Bill proposes to bring e-commerce entities within the GST net to collect tax at source for all suppliers as well as file a monthly statement of transactions with every supplier. A brief note on the compliance on e-commerce operators is as under:
The 122nd Constitution (Amendment GST) Bill, 2014 to thoroughly overhaul India’s indirect tax regime has been passed by the Lok Sabha in 2015 and pending with Rajya Sabha for its approval and may be passed in the monsoon session of Parliament. This is a welcome step of the government has released draft Model GST Law in public domain. The provision for audit under section 42 (4) may also be examined as a landmark opportunity for professionals.
Under the new GST Model Law the incidence of taxation is supply of Goods and Services. It becomes important to determine the point of taxation i.e. the time of supply in order to levy the GST upon the assessee.
GST is a destination based consumption tax levied at multiple stages of production and distribution of goods and services, with taxes on inputs credited against taxes on output. GST is going to be big game changer and will be one of the most significant tax reforms in the fiscal history of India to consolidate present multiple layers of Indirect taxation.
After issuing Joint Committee Reports on registration, refund, tax payment and filing of return last month, the government has issued draft model law on GST. There would be separate Acts for CGST, SGST and IGST. The model Act would guide for drafting GST Act for each of the state.
The Maharashtra State Tax on Professions, Trades, Calling and Employment Act, 1975 (Profession Tax Act) is implemented with effect from 1st April, 1975. Under this act, every self employed person engaged in any profession, trade, callings and employment in the state of Maharashtra is required to obtain Enrollment certificate registration and pay Profession Tax as prescribed in the law.
