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Goods and Services Tax : Discover the structure, powers, and recent updates of the GST Council in India, including key decisions from the 53rd GST Council ...
Goods and Services Tax : Explore GST exemptions for educational institutions under Notification 12/2017(CTR) and case laws. Learn how these exemptions appl...
Goods and Services Tax : Understand Input Tax Credit (ITC) under GST: Learn about eligibility, conditions, and types of ITC. Stay updated with latest amend...
Goods and Services Tax : Understand the time limit to avail Input Tax Credit (ITC) under Reverse Charge Mechanism (RCM) and the implications for registered...
Goods and Services Tax : State directives needed to stop police from illegally checking invoices/e-way bills, hindering trade. Only GST officials have this...
Goods and Services Tax : Explore the interoperable services of E-Invoice1 and E-Invoice2 systems, boosting efficiency and reliability for taxpayers. Learn ...
Goods and Services Tax : Discover the latest API updates for E-Invoice and E-Way Bill systems, including interoperable services and new error codes for sea...
Goods and Services Tax : Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC co...
Goods and Services Tax : CBI arrests CGST Superintendent and Inspector in Solan, HP, for demanding and accepting Rs.8000 bribe, leading to searches and ong...
Goods and Services Tax : CBI arrests Superintendent of Central GST & Central Excise in Berhampur for accepting Rs. 15,000 bribe from complainant regarding ...
Goods and Services Tax : Explore the Supreme Court judgment denying anticipatory bail for GST summons under Section 69, with interim protection detailed. F...
Goods and Services Tax : Detailed analysis of AAAR Chandigarh ruling on GST applicability for Chhattisgarh State Power Generation Company Limited's Abhivah...
Goods and Services Tax : Explore the GST implications on rejected paddy under Section 101 of CGST Act in Chhattisgarh. Learn about HSN classification, tax ...
Goods and Services Tax : Detailed analysis of GST AAAR Goas ruling on Chowgule & Company Pvt Ltd's appeal regarding IGST liability and unutilized ITC refun...
Goods and Services Tax : Explore the GST implications on one-time concession fees in the Goa Tourism Development Corporation Limited case. Detailed analysi...
Goods and Services Tax : Explore the integrated services of NIC-IRP e-invoice-1 and e-invoice-2 portals, launching on July 18th, 2024. Learn about seamless...
Goods and Services Tax : Explore CBIC achievements, updates, and recent cases in the July 2024 newsletter from the Ministry of Finance, Department of Reven...
Goods and Services Tax : GST rates on solar cookers, fire water sprinklers, parts of poultry-keeping machinery, pre-packaged agricultural produce and suppl...
Goods and Services Tax : Latest GST clarifications on services including Indian Railways, RERA, digital payments, insurance schemes, and accommodation serv...
Goods and Services Tax : Learn how exporters can claim refund of additional IGST paid due to price increases post-export. Details on application process an...
The GST Council met for the 43rd time on 28th May 2021 at New Delhi. The Council made certain key recommendations on changes in GST rates on supply of goods and services and changes related to GST law and procedure GST Law and procedures. The changes are categorized in below major areas and summarized for […]
There is a burning issue in GST since very beginning “Whether the recipient are required to reverse their Input Tax Credit (ITC) due to mismatch of 2A or due to non-submission of GSTR 1 or GSTR 3B by supplier” As per Section 16 (2)(c) of the CGST Act, Input Tax Credit (ITC) shall be claimed […]
Recommendations of 43rd GST Council meeting Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns; Late fee also rationalised for future tax periods I. Amnesty Scheme of reduced/waived late fee for those who didn’t file GSTR-3B returns for the tax periods July, 2017 to April, 2021, if said GSTR-3B returns for […]
The Central Board of Indirect Taxes and Customs, on the recommendations of the GST Council, had released a notification (94/202-Central Tax) on December 22,2020 making a number of crucial amendments to the Central Goods and Service Tax Rules, 2017. The said amendments caused a disruption in the business community, who were worried that the amendment […]
Hon’ble Finance Minister, Smt. Nirmala Sitharam in her Budget Speech on 1st day of February 2021, omitted Section 35(5) and substituted Section 44 [by Section 101 & 102 of the Finance Act, 2021 respectively] of the CGST Act, 2017, so as to remove the mandatory requirement of furnishing a Reconciliation Statement (GSTR-9C) duly audited by a Practicing Chartered Accountants or Cost Accountants and to provide for filing […]
The 43rd GST Council Meeting was a much-anticipated meeting considering the demands of the industry for extension of compliance requirements and other relaxations and benefits in imports etc. The first few months of year 2021 were one of the best in terms of GST revenue for the government despite the havoc created by the ongoing […]
In the 43rd GST Council Meeting Certain COVID-19 related relaxations to be provided, it should be a booster does for GST Taxpayers in second waive, in council meeting mainly focus to relaxation on compliances which effected during lock down in mostly state, Relaxation in certain due date of GST Returns and other compliances of F.Y. […]
In 43rd GST Council Meeting held on 28th May 2021, Government has came up with amnesty scheme as well as scheme of rationalization of Late fees to provide relief to taxpayers if they file their GST return beyond the due date. This article covers the relief provided by the government with regard to old GST […]
Article explains Summary of Decisions of GST Council in 43rd Meeting on 28th May 2021 1. Late Fees Amnesty Scheme for pending GSTR-3B returns (For the tax period July’17 to April’21) Category of Taxpayers Max Late Fees Taxpayers with Nil Tax Liability Rs. 500 per return Other taxpayers Rs. 1000 per return Condition- GSTR-3B to […]
In the event of cancellation of residential flats by any customer, whether the relevant date for application of refund of taxes already paid on advances is to be reckoned from date of payment voucher giving back the refund to the customer or is to be reckoned from the date of filing GSTR-3B for the month in which the tax on advances received were paid. The relevant date for filing of refund application in the above situation is the date of payment of tax as prescribed in clause (h) of Explanation 2 of Section 54 of the CGST Act, 2017.
