Goods and Services Tax - Page 5

CBIC notifies constitution of GST AAAR in Union territories

Notification No. 04/2019-Union Territory Tax [G.S.R. 367(E)] (16/05/2019)

Central Government, hereby, notifies the constitution of the Appellate Authority for Advance Ruling in the Union territories- Andaman and Nicobar Islands, Chandigarh, Daman and Diu, Dadra and Nagar Haveli and Lakshdweep vide Notification No. 04/2019-Union Territory Tax MINISTRY OF FINANCE (Department of Revenue) Notification No. 04/2019-U...

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Govt amends GST Authority for Advance Ruling in Union territories

Notification No. 03/2019-Union Territory Tax [G.S.R. 366(E)] (16/05/2019)

Govt amends GST Authority for Advance Ruling in Union territories of Andaman and Nicobar Islands and Dadra and Nagar Haveli vide Notification No. 03/2019-Union Territory Tax....

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CBI Arrests An Inspector of Central GST In Bribery Case

The Central Bureau of Investigation has arrested an Inspector, E-way Bill Team-II, Central GST, Noida (Uttar Pradesh) for demanding and accepting a bribe of Rs. 30,000/- from the complainant....

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Latest Updates on GST Portal that we are need to be Aware of

There have been several new updates on the GST portal over the last six months. The GST portal keeps rolling out new updates to help taxpayers file their returns more smoothly and effectively. Taxpayers need to stay up-to-date to avoid missing out on vital compliances, which in turn would prevent notices being issued to them. […]...

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Definition of Works Contract in Section 2(119) of CGST Act, 2017 is Unconstitutional

THE RESTRICTIVE DEFINITION OF THE TERM GIVEN IN THE GST LAW IS ULTRA VIRES THE CONSTITUTION AND HENCE VOID  1. HISTORICAL BACKGROUND 1.1. Prior to the 46th amendment of the Constitution in 1982, which introduced Article 366(29A) into it, The States and the Centre had no power to tax WORKS CONTRACTS, that is, contracts for […]...

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Discounts – Practical Aspects and GST Law

There are some recent media reports which brings out that the GST department is monitoring and watching over the discounts and offers given by car and other dealers to its customers to know whether any kind of revenue leakage occur to the exchequer from these transactions. As the discounts are passing in difference ways and […]...

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GST: Mystery of Time of supply under JDA Unveiled!

Real Estate is an important part of the economy and is accountable for extensive part of its development investment, advancement of the nation’s infrastructure. The taxation of the real estate segment has also been challenging and litigated in many aspects. There are many open issues in relation to the determination of point of taxation...

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Types of Audit under Goods and Services Tax with GST Audit Checklist

Audit under GST is the examination of records, returns and other documents maintained by a registered dealer. The aim is to verify the correctness of Turnover declared, Taxes paid, Refund claimed and input Tax Credit availed by an assessed as per provisions under GST along with is to assess the auditee’s compliance with the provision...

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Practical Questions on Real Estate Sector in GST Regime w.e.f 01-04-2019

1. What is Joint Development Agreement (JDA)? • This is an arrangement between an owner of the land and a builder where the land owner contributes the land and the developer undertakes the responsibility of obtaining approvals, property development, launching and marketing the project with the help of his financial resources. • As ben...

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HC orders release of goods being perishable on furnishing security by way of bond

M/s Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat (Gujarat High Court)

M/s. Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat (Gujarat High Court) The impugned order dated 2.4.2019 passed by the second respondent (Annexure-H to the petition) is hereby quashed and set aside. The matter is restored to the file of the second respondent who shall decide the same afresh in accordance with law after giving [&...

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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.

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