Goods and Services Tax
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No ITC Denial for Missing Lorry Receipts Where Supplier Paid GST: Madras HC
SC Settles issue of GST on Long-Term Lease of Immovable Properties
5 GST Mistakes That Quietly Cost Indian Businesses ₹50,000 or More
No Jurisdiction To Club Multiple Financial Years In Single GST SCN: Bombay HC
Works Contract Qualified for GST Exemption as Goods Component Was Below 25% Threshold
Bonded Warehouse Supplies Not Exports as Goods Delivered Within India: AAR Maharashtra
MHADA Flats Taxable as Additional FSI Was Received Before Occupancy Certificate: AAR Maharashtra
GSTN Updates e-Invoice & e-Way Bill APIs: Ship-to GSTIN Mandatory, Voluntary EWB Closure
Supply to Navy, Coast Guard & Foreign-Going Vessels Not Export Under IGST Act: Maharashtra AAR
Innovative Reform Ideas on Nine Years of GST to Curb complexities & ITC Frauds
National Workshop on GSTAT e-Appeals: A Practitioner’s Experience
Plastic Bottle Scrap Seizure Case Closed as Final GST Section 130 Order Was Issued
Kerala HC Quashes ITC Denial as Returns Were Filed Within Section 16(5) Cut-Off Date
HC Sets Aside Ex-Parte GST Order, Permits ITC Verification in GSTR-3B/GSTR-2A Mismatch
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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