Goods and Services Tax
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GST DRC-01 passed without considering reply: HC Set-aside the SCN
Mismatch between GSTR-3B & GSTR-2A: HC remanded matter back to AO
HC Directs Interest Consideration for Delayed CENVAT Credit Carry Forward
Rajasthan Amnesty Scheme 2024: Rebate and Settlement
CCI Orders Re-examination of Vertex Homes Case: DGAP to Submit Thorough Report
Summary of Interim Union Finance Budget 2024
New Provisions for ‘Input Service Distributor’ in Finance Bill 2024
GST Authorities can’t raise new grounds or arguments that are not part of SCN
GST Registration Cannot Be Retrospectively Cancelled Solely Due to Non-filing of Returns
VAT Re-assessment notice after limitation period: HC allows writ petition
Guidelines for conducting investigation in certain cases – DGGI
Allahabad HC upholds penalty for Wrong Representation in Goods Purchase under Sales Tax Act
Unutilised IGST Credit Refund: Bombay HC Directs Fair Hearing & Timely Adjudication
GST: No Penalties If Discrepancies Rectified Before Issuance of Orders
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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