Goods and Services Tax
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No ITC on payments made to acquire leasehold land rights: GST AAAR Gujarat
Aorom Herbotech’s herbal cigarettes not medicinal products: GST AAAR Gujarat
SEBI Proposes Increase in Size Criteria for Additional Disclosures
GSTR-3B Filing Deadlines Extended for December & QRMP
FORM GSTR-1 Filing Deadline Extended for Dec 2024
GST Notification Ratification cannot substitute recommendation: Gauhati HC
Late Fee Waiver Under Amnesty Scheme Valid for GSTR-9 Returns Filed Before Notification: HP HC
Mandatory HSN Code Reporting in GSTR-1/1A from January, 2025 return
Key GST Reforms and Milestones of 2024
GSTR-8 Filing Deadline Extended for E-Commerce Operators for December, 2024
Deadline Extended for GSTR-7 Filing by TDS Deductors for December, 2024
Deadline Extended for GSTR-6 Filing by Input Distributors for December, 2024
CBIC extends due date or furnishing FORM GSTR-5 for December, 2024
Critical Analysis of Section 70 of GST Act, 2017: Who, How & When to Summon?
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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