Goods and Services Tax - Page 3

HC orders release of vehicle seized which was not carrying Invoice & e-Way Bill

Mkc Traders And Another Vs State of U.P. (Allahabad High Court)

Mkc Traders and Another Vs State of U.P. (Allahabad High Court) A perusal of the seizure order and the order passed under Section 129(3) of the Act for the release of the goods reveal that the transporter has not been assigned any role in the entire transaction which had led to the seizure of the […]...

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Practical guide and procedure on Services under GST

The Goods and services Tax is the biggest tax reform India has seen post-independence. Amalgamation of large number of Central and State taxes into a single tax, will help in mitigating cascading effect or double taxation in a major way....

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Notes on GST for those who enrolled to be a GST Tax Practitioners

GST is based on the principle of value added tax and either  input tax method  or  subtraction method, with emphasis on voluntary compliance and accounts based system, It is a comprehensive levy and collection on both goods and services at the same time rate with benefit of input tax credit or subtraction of value of penultimate transa...

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Returns under GST

DETAILS OF RETURNS TO BE FILED UNDER THE GST LAWS- > GSTR-1 Details of outward supplies of taxable goods and/or services effected/provided filed by registered taxable supplier by 10th of the next month....

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Unravelling GSTR 9- A clause by clause analysis- Part I

At present, the most talked about topic after Indian general elections and avengers-end game, is GST annual return and GST audit, i.e. Form GSTR-9 and Form GSTR 9C and Mr. Jain has approached Mr. GST to get the overview of the same. Following are the excerpts of their conversation: 1. What is GST annual return? […]...

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GST on Interest paid on Debentures

Debentures covered under the definition of security and therefore it is not covered under goods. Therefore, GST will not attract on interest paid on debentures....

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Issues In Indirect Taxation On Alco Beverages

Alco beverages sector is highly regulated in India from all angles be- it regulation of industry itself in terms of capacity, products, marketing and distribution or taxation. Indirect taxation has been a concern for alco-beverages, both in pre-GST regime prior to July 1, 2017 and even today. While it suffered heavy and multiple taxation ...

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GSTR-9, GSTR 9A & GSTR-9C: Important things to be considered

Important things to be considered before GSTR-9,9A Returns and Reconciliation Statement in GSTR-9C for the A.Y.2018-19 under GST Law...

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Section 132- No Punishment under GST without Assessment: HC

M/s. Jayachandran Alloys (P) Ltd. Vs The Superintendent of GST and Central Excise (Madras High Court)

M/s. Jayachandran Alloys (P) Ltd. Vs Superintendent of GST and Central Excise (Madras High Court) In the present case, the Department does not dispute that action was intended or envisaged in the light of Section 132 of the CGST Act, the counter fairly stating that the provisions of Section 132 of the CGST Act were […]...

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Khadi readymade garments classifiable under Chapter heading 62

In re M/s Udyog Mandir (GST AAR Rajasthan)

In re M/s. Udyog Mandir (GST AAR Rajasthan) Will Khadi readymade garments to be included under the entry of Khadi fabric under chapter 50 to 55 of GST classification?   Khadi readymade garments are not covered under the entry of 130A, chapter heading 50 to 55 of Notification No. 02/2017-Central Tax (Rate) dated 28.06.2017. If […]...

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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.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.