Goods and Services Tax - Page 5

Penalty cannot be imposed merely because it is lawful to do so

Mangalore Refinery and Petrochemicals Limited vs State of Karnataka (Karnataka High Court)

The Petitioner filed petition against the order dated May 24, 2017 (Order) by the passed by the Karnataka Appellate Tribunal denying the input tax credit (ITC) in respect of capital goods and imposing penalty stating that penal provisions are mandatory....

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Annual return Filing by composition taxpayers & Negative Liability in GSTR-4

Advisory No. 491 22/07/2021

Filing of Annual returns by composition taxpayers. – Negative Liability in GSTR-4 Filing of Annual returns by composition taxpayers. – Negative Liability in GSTR-4 Instances have come to notice where taxpayers are reporting negative liability appearing in their GSTR-4. Background: Since FY 2019-20, composition taxpayers has to...

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Practical Challenges in GST in India now a days

GST may be new to us but it is not new to globe, France adopted GST in 1954 and become the first nation who adopted GST to curb the tax evasion. After that Italy, Japan, Canada, Australia, South Korea, UK and China took a forward step in GST implementation in their economy. GST was adopted […]...

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Issued faced during assessments & in functioning of Maharashtra VAT Website

AIMTPA has written a letter to Commissioner of State Tax and brought to his attention issues being faced during assessments under the Maharashtra Value Added Tax Act, 2002 , the Central Sales Tax Act, 1956  and some issues related to the functioning of the Department’s portal viz www.mahagst.gov.in/en. Text of their letter is as follow...

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Rajasthan VAT: Request for extension of date of Rectification of Mistakes of old Assessment orders

ATMTPA has written a letter to Chief Minister of Rajasthan and requested to extend the date of Rectification of Mistakes of  old Assessment orders under section 33 of Rajasthan Value added Tax Act, 2006 to 30th Sept. 2021 so that all the taxpayers of the state can take the benefit of VAT Amnesty scheme-2021 after […]...

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Charitable Trust running medical store to give medicines without profit required to be registered under GST

Nagri Eye Research Foundation v. Union of India (Gujarat High Court)

GST : Where Charitable Trust was running a medical store, even though Charitable Trust was giving medicines to customers at a lower rate with no profit, sale of medicine by Trust would be a taxable supply of goods; aggregate turnover exceeding threshold limit, Trust would have to obtain registration...

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Rajasthan HC struck down GST on Ocean Freight

Mahesh Vegoils Private Limited Vs Union Of India (Rajasthan High Court)

Mahesh Vegoils Private Limited Vs Union Of India (Rajasthan High Court) Petitioner has filed the petition under Article 226 of the Constitution of India seeking following reliefs:- “a. To issue appropriate writ/order/direction to the effect declaring Sr. No. 9(ii) of the Notification No. 8/2017-Integrated Tax (Rate) dated 28.06.2017 to...

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Rajasthan HC struck down GST on Ocean Freight- Followed Mohit Mineral

Lakhpat Trading And Industrys Private Ltd. Vs Union Of India (Rajasthan High Court)

Lakhpat Trading And Industrys Private Ltd. Vs Union Of India (Rajasthan High Court) Petitioners have filed the petition under Article 226 of the Constitution of India seeking following reliefs:- “(i) Section 9 of the Constitution (One Hundred and First Amendment) Act, 2016 in so far as the same introduced Explanation to Clause 1 of Arti...

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Analysis of Karnataka AAR Ruling – Sale of Second Hand Jewellery

Karnataka Authority for Advance Rulings (AAR) has passed a ruling in the matter of Aadhya Gold Private Limited (Order No. KAR ADRG 35/2021 dated 9th July 2021) holding that in case of resale of second-hand gold jewellery, the GST can be discharged under Margin scheme prescribed under Rule 32(5) of CGST Rules 2017. We have […]...

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Analysis of Madras HC Decision on Taxability of contribution received by RWAs

Hon’ble Madras High Court has recently given a judgement in the matter of ‘Greenwood Owners Association & others Vs Union of India‘ holding that monthly contributions to RWAs only in excess of INR 7,500/- would be taxable under GST Law. It is pertinent to note that Tamil Nadu AAR in the matter of TVH Lumbini […]...

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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.

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