Goods and Services Tax
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Patna HC Imposes ₹25,000 Costs for Challenging GST Demand After Giving Undertaking
AP HC Sets Aside Composite GST Assessment Covering Multiple Tax Periods
Madras HC Upholds GST Late Fee for Delayed Return Filing
Kerala HC Orders Reconsideration of ITC Denied for March 2020 Under Section 16(5
No Double Taxation Where KVAT Component Adjusted Before GST: Kerala HC
Gujarat HC Upholds ITC Reversal, Quashes GST Penalty for Procedural Lapse
ITC Benefit Must Be Passed Through Price Reduction, Not Free Construction: GSTAT
ITC Benefit Must Be Passed Through Price Reduction, Not Free Upgrades: GSTAT
SC to Decide if Section 74(2) Six-Month SCN Time Limit Is Mandatory
Bhandari Scrap Traders: Section 16(2)(c), Retrospective GST Cancellation & Bona Fide Buyers
GSTN Hold Rollout of Proposed E-Way Bill Enhancements
Portal Upload Is Not a Service: Amar Coop Reaffirms Luxmi Traders
GSTR 2B vs Books Reconciliation: A Free Excel-Based Automation Tool
No ITC on Upfront Lease Premium for Industrial Land Used to Construct Factory: GST AAAR
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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