Goods and Services Tax
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GST on Building Transfer to OMCL: AAR Odisha Ruling Explained
Matter already under Audit: GST advance ruling application not maintainable
HC directs reconsideration of ITC claim under newly introduced Section 16(5)
New Invoice Management System (IMS) on GST Portal from Oct 2024
Allahabad HC directs GST Deputy Commissioner to explain recovery notices to multiple banks
No ITC reversed for portion of LIC premium not included in taxable value, as per Rule 32(4)
Provisional Attachment Under GST Regime
GST Taxability of Salvage/Wreck Value in Motor Vehicle Damage Claims
Saga of Rule 89(4B) and woes of AA/EOU
Advisory on Reporting of supplies to un-registered dealers in GSTR1/GSTR 5
Brief history of GST in India
Allahabad HC stays demand of GST on royalty
HC Questions CAG’s Authority to Audit Private Entities
CBIC Chairman’s Weekly Newsletter – 02nd September, 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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