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Goods and Services Tax : CBIC's new RCM self-invoicing rules, effective Nov 2024, mandate timely self-invoices for goods or services from unregistered supp...
Goods and Services Tax : Learn how to navigate the GST appeals process, including filing deadlines, common grounds for appeal, and tips for successful subm...
Goods and Services Tax : प्रयुक्त कारों की बिक्री पर जीएसटी के नियमों की ज�...
Goods and Services Tax : New ITC rectification process under Section 16(5) & 16(6) of CGST Act allows correction of past orders, offering relief to taxpaye...
Goods and Services Tax : Learn about GST amendments on commercial rental income. RCM now applies when unregistered landlords rent to registered tenants. Ef...
Goods and Services Tax : CGST Thane invites EOIs for empanelment of Chartered and Cost Accountants for GST special audits. Submit by October 27, 2024....
Goods and Services Tax : Biometric-based Aadhaar authentication and document verification for GST registration in Kerala, Nagaland, and Telangana began on ...
Goods and Services Tax : Start your mornings with essential GST knowledge. Join CA Sachin Jain for a 3-day live course focused on GSTR-9 and 9C, combining ...
Goods and Services Tax : Explore the key recommendations made by the GST Council during its 54th meeting, including changes in GST rates, GoM formations, a...
Goods and Services Tax : AGFTC & ITBA urge the Finance Minister to reduce GST appeal fees to ensure fair taxation, proposing fees similar to Income Tax rat...
Goods and Services Tax : Madras High Court held that rejection of input tax credit on the ground that claim has been lodged beyond period prescribed u/s. 1...
Goods and Services Tax : Delhi HC rules that GST registration cancellation cannot be withheld due to pending assessment or recovery proceedings. Proper off...
Goods and Services Tax : Delhi HC directs reconsideration of GST cancellation for Pihu Enterprises. Prior proceedings cannot block cancellation but liabili...
Goods and Services Tax : Delhi High Court held that suspension of GST registration alleging non-compliance with rule 86B of CGST Rules not justified as ass...
Goods and Services Tax : Held that the export of services by the petitioner is an aspect which is neither disputed nor doubted. The only objection which is...
Goods and Services Tax : From January 2025, changes to auto-populated GSTR-3B values will be restricted. Amend through GSTR-1A or Invoice Management System...
Goods and Services Tax : Clarification on Section 128A of CGST Act for waiver of interest or penalty for FYs 2017-2020. Key procedures and conditions for t...
Goods and Services Tax : CBIC clarifies input tax credit provisions under Section 16(5) & 16(6) of CGST Act, detailing rectification procedures for wrong c...
Goods and Services Tax : GST auto-populates eligible ITC in GSTR-9 for FY 2023-24 from GSTR-2B. Changes available from 15th October 2024, with a validation...
Goods and Services Tax : New CGST building in Delhi inaugurated; DRI busts illegal Mephedrone factory in MP, seizing ₹168 crore worth of drugs, and inter...
After much bickering with states, the finance ministry today reduced the central sales tax (CST) rate on inter-state sales from 3 per cent to 2 per cent with effect from June 1.The ministry notified the rate-cut to the states despite differences on compensating them for losses of about Rs 13,000 crore in 2008-09 because of the cut. CST was cut from 4 per cent to 3 per cent on April 1, 2007. It was to be reduced to 2 per cent on April 1, 2008, and phased out by March 2010.
A large number of representations have been received from dealers who are not covered by the Notification for filing of e_Return. These dealers made a request and shown their willingness for filing e_Return even though it is not mandatory for them to file e-Return. It is the endeavor of the department to encourage the filing of e_return. Therefore, the request of these dealers is accepted and they were allowed to file e_Return.
Following an agreement between the Central Government and the State Governments, the rate of Central Sales Tax was reduced from 4 per cent to 3 per cent in this financial year. It is now proposed to reduce the rate to 2 per cent from April 1, 2008. Consultations are underway on the compensation for losses, if any, and once agreement is reached the new rate will be notified. I am also happy to report that there is considerable progress in preparing a roadmap for introducing the Goods and Services Tax with effect from April 1, 2010.
Changes in MVAT RETURN FILING – TL in Previous Year TR in previous Year Periodicity Form & Due Date Tax Liability (TL) Tax Refund (TR) 1) upto Rs. 1 lakh upto Rs. 10 Lacs Half Yearly 231/21 days 2) upto Rs. 10 lacs upto Rs. 1 crore Quarterly 231/21 days 3) More than 10 Lacs More Than Rs. 1 Crore Monthly 231/21 days
Trade Cir. No. 5 T of 2008 A Trade Circular No. 1T of 2008 dt. 25.1.2008 had been issued explaining the procedure for issuance of statutory forms under the Central Sales Tax Act, 1956. In that circular, a procedure had been set down for the use of applicants of declaration forms under the Central Sales Tax Act. As per that circular, the dealers were required to show proof of filing of returns and payments from 1.4.2005 onwards till the last return/payment due from them on the date of application. The dealers were also required to furnish information in the format provided for in the said circular.
Imagic Creative (P.) Ltd. v. Commissioner of Commercial Taxes Payments of service tax as also the VAT are mutually exclusive. Therefore, they should be held to be applicable having regard to the respective parameters of service tax and the sales tax as envisaged in a composite contract as contradistinguished from an indivisible contract. It may consist of different elements providing for attracting different nature of levy. It was, therefore, difficult to hold that in a case of instant nature, sales tax would be payable on the value of the entire contract, irrespective of the element of service provided. The approach of the assessing authority, thus, appeared to be correct.
WHETHER the charges collected towards the services for evolution of prototype conceptual design (i.e. creation of concept), on which service tax had been paid under the Finance Act, 1994 as amended from time to time is liable to tax under the Karnataka Value Added Tax Act, 2003 is the question involved in this appeal before the Supreme Court.
As usual the last date for filing of Form No. 704 i.e. VAT Audit Report for 2005-06 and 2006-07 is extended to 31st March 2008. Judgment on the same is expected on 22nd February 2008.
Circular No.14-T of 2007, Mumbai,dt.08.02.2007 This office had earlier issued above referred two Circulars for grant of provisional refund. The refund under these Circulars is admissible to those dealers who have filed return for any earlier period on or before 31.12.2006.
Trade Cir-18T of 2006 This office had earlier issued the above-referred three Trade Circulars, enumerating the procedure for grant of provision refund for part of the period/periods pertaining to the financial year 2005-06.
