Goods and Services Tax
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GST Audit Flags MSME Challenges: Key Recommendations to Improve Ease of Doing Business
Gauhati HC Quashes GST Cancellation as Order Contained No Reasons
Pre-Deposit In Penalty Only Proceedings Under GST: A Challenge To Fair Appellate Remedy
FY 2019-20 GST Interest Notices: Can Section 50 Revive Time-Barred Proceedings?
GSTAT Upholds Anti-Profiteering Order Against Vishwanath Cinema for not passing GST Cut Benefit
Madras HC Says ITC Cannot Be Denied for Missing Lorry Receipts Alone
Bombay HC Quashes GST Recovery from Legal Heir for Absence of Notice & Hearing
GST Recovery Without Prior Notice Valid When Tax Liability Is Finalized: AP HC
ITC Denial Based on GSTR-3B & GSTR-2A Mismatch Set Aside as Import Data Was Missing from GSTR-2A
Orissa HC Orders Fresh Hearing After Finding Error in GST Appeal Limitation Calculation
Gauhati HC Quashes ITC Demand as Bona Fide Purchaser Cannot Be Penalised for Supplier’s Tax Default
Madras HC Sets Aside Ex Parte GST Assessment Due to Opportunity Denial in GSTR-3B vs GSTR-2A Mismatch
General GST Penalty 125 Set Aside as Specific Late Fee Was Already Prescribed: Madras HC
Gauhati HC Allows GST Registration Restoration as Taxpayer Agreed to File Pending Returns & Clear Dues
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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