Goods and Services Tax
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Delhi High Court Strikes Down Negative Blocking of ITC Ledger
SCN Within Three-Month Window Valid Under CGST Act: Delhi HC
GST Not Payable on Liquidated Damages in Bus Project: AAR Gujarat
No ITC on GST Paid for Industrial Land Lease due to Section 17(5)(d) Bar: AAR Gujarat
Deduct Sub-Contractor’s VAT Turnover from Main Contractor to Prevent Double Taxation: SC
No ITC Reversal on Demo Goods: Kerala AAR
GST ITC Blocked for Purchases from Non-Existent Dealers: Madras HC Orders 50% Debit
Auditor Fabricated Fake Invoices in GSTR-1 Records: Madras HC Orders Fresh Hearing
Madras HC Remands Case as VAT Turnover Wrongly Included in GST Assessment
Rectification of GST deposit inadvertently reflected in TDS account permitted
Reward to GST Evasion Informers Is Discretionary, Not Enforceable by Right: Delhi HC
Bank Cannot Freeze Account for Mere GST Registration Cancellation: Rajasthan HC
GST Registration Can Be Revived If Dues Are Cleared: Madras HC Reaffirms
Bombay HC Stays Recovery from United Spirits in ENA VAT Interest Dispute
Goods and Services Tax India
The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.
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