Goods and Services Tax
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Navratri Special: Strengthen Your Business with GST Compliance!
Issuance of two different orders for same Assessment Year violative of principles of natural justice: Madras HC
Recent GSTN Advisories: ITC Reversal, Invoice System, Return Data
Calcutta HC directs filing of affidavit to determine validity of CBIC instruction on pre-deposit payment mode
Provisional attachment justified as basic exercise of estimating value of GST conducted: Delhi HC
Blocking of credit under Rule 86A is not a tool for tax recovery: Delhi HC
Gross and Net GST revenue collections for the month of Sep, 2024
Karnataka HC Grants Interim Stay on IGST for Manpower Secondment
Waiver of Interest and Penalty for GST Demands if Paid by March 2025
Karnataka HC Sets Aside Ex-Parte GST Order, Restores Appeal
Bunching of notices set aside and directed to issue separate notices to avail AMNESTY scheme benefit
Denial of ITC on zero rated sales u/s. 18 of TNVAT Act 2006 needs fresh consideration: Madras HC
E-way bill exemptions for job work & storage of Turmeric, Chilli & Raisins in Maharashtra
GST action points for FY 2023-24 before filing GST returns for October 2024
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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