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 : Understand the GST fake invoice issue, tax demand, penalties, and possible solutions, including appeals, payments, and expected am...
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 : Avoid GST phishing scams. GSTN never asks for personal details via calls, emails, or SMS. Verify sources and avoid clicking on unt...
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 : 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...
Excise & taxation Department, Punjab has levied processing fee of Rs. 800 on every taxable dealer (i.e Person having VAT registration) in Punjab under a new Rule 40-A of Punjab VAT Rules, 2005. This rule provides as under:
The rate of Tax on declared goods as mentioned in Schedule C-1 has been increased from 4% to 4.5% plus Additional Tax @ 10% and net effect from 03-09-2012 will be 4.95%. It is pertinent to clarify that on wheat, paddy and rice, there is no change in the rate of Tax w.e.f 03-09-2012 and the previous rate of Tax i.e. 5% will prevail, reason being maximum ceiling rate on declared goods is 5%.
In the Budget for 2012-13, the Hon. Finance Minister has proposed levy of tax on furnishing cloth/fabrics at last point of sale. In connection with above, the Government of Maharashtra has issued Notifications dated 27.8.2012 imposing tax on various furnishing cloth/fabrics items. The short gist of such notification is as under:
The Special Judge for CBI Cases, Saket, New Delhi has today sentenced Shri O.S.Chauhan, IAS(UT-1967), Former Additional Commissioner of Sales Tax, Government of NCT, Delhi to undergo three years Rigorous Imprisonment with fine of Rs. Five Lakh in a disproportionate assets case.
Punjab Govt. through Public Notice dated 02-09-2012 has increased the rate of tax w.e.f 03-09-2012. Effects of this Public Notice are as under: -1. Sugar: – The state Government is pleased to waive tax on Sugar w.e.f 03-09-2012.2. Increase in the rate of tax by 0.5% under the Punjab VAT Act 2005 w.e.f 03-09-2012. Which resulted in increase, the details of same are as follows: –
Much has been discussed on recent issue about Suspicious Dealers, but rarely has someone analysed Whether Purchases made from such Suspicious Dealers should actually form part of Purchases while preparing Financials. The last updated List of 1277 Suspicious Dealers who has issued false bills without delivery of goods is displayed on Website of Government of Maharashtra – VAT Department since July-12.
The SC has extended the deadline for builders to pay VAT from August 31 to October 31. If they do so, they are not entitled to pay penalty and 15% interest on delayed payment of VAT, according to the SC interim order. The builders must register with the sales tax department by October 15 before paying VAT. The VAT money will be collected and kept in a separate account of the state government. If the state loses the case, the developers will get back their money along with interest. The date for the final SC ruling is not known as yet.
The Government of Maharashtra has amended the definition of Sale under the Maharashtra Value Added Tax Act, 2002 with effect from 20th June 2006 thereby including in the said definition the transfer of property in goods involved in the execution of works contract, including an agreement for carrying out for cash or for deferred payment or other valuable consideration, the building , the construction, manufacture, the processing, fabrication, erection, installation, fitting out, improvement, modification, repair or commissioning of any moveable or immoveable property.
The Union Finance Minister, Shri P. Chidambaram said that the goods and services tax (GST) is a more effective and efficient substitute for plethora of indirect taxes. The Finance Minister said that he is hopeful that the GST Bill would be passed before the end of the current financial year.
Vide notification no.F.7/433/Policy-Ii/VAT/2012/472-483 dated 16.08.2012, the Department of Trade and Taxes has notified form Stock-1 and has made it mandatory for all dealers to submit online, Tax Rate Wise details of stock held on 3pt day of March every year in form Stock-1. This information is to be filed latest by the so” day of June ‘every year. However, the information relating to stock held as on 31st day of March 2012, is required to be submitted online up to 31stday of October, 2012.
