Goods and Services Tax
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Highlights of 55th GST Council Meeting
Key Recommendations of 55th GST Council Meeting Held on 21.12.2024
GST Authorities Must Intimate Deficiency in GST RFD 03 but Can’t Be Blamed for Unanswered SCN: Bom HC
Reopening Settled GST Cases: An Affront to legal Finality
Input tax credit admissible on telecommunication towers under CGST Act: Delhi HC
Matter restored back since fact that grant of discount has no tax effect under CGST not considered
Section 25(1) of KVAT doesn’t permit passing of fresh order for same assessment year: Kerala HC
Basic of GST and Registration Thresholds
Advisory for Receipt Numbers in E-Way Bill System for Leased Wagons
Blocking of ITC credit is not directly related to actual recovery of taxes but to Ensures that Ineligible ITC Isn’t Utilized
GST Rule 86A does not constitute a recovery provision: Allahabad HC
Annual Return (GSTR-9) for FY 2023-24
Key December 2024 Compliance Deadlines
Limitation for GST Appeals Begins from Rectification Order, not original assessment order
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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