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Goods and Services Tax : The article discusses how GST authorities are increasingly reversing ITC based on upstream NGTP allegations without proving fraud ...
Goods and Services Tax : The article explains common objections raised during GST departmental audits under Section 65, including ITC mismatches, GSTR reco...
Goods and Services Tax : The article explains how rigid GST compliance and fear of penalties are pushing small businesses back into cash transactions. It s...
Goods and Services Tax : The new Invoice Management System (IMS) will introduce real-time invoice matching and automated ITC verification under GST. Busine...
Goods and Services Tax : This article explains updated GST rates, ITC rules, SAC classifications, and compliance requirements applicable to hotels and hosp...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
Goods and Services Tax : Persistent technical issues prevented users from accessing the portal and completing filings. The representation seeks urgent fixe...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims based on fake invoices without actual supply of goods or services. The accused was arr...
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
Goods and Services Tax : Gauhati High Court held that cancellation of GST registration without assigning reasons in FORM GST REG-19 was illegal and violate...
Goods and Services Tax : Bombay High Court held that GST proceedings initiated against a company that had ceased to exist after amalgamation were void ab i...
Goods and Services Tax : Bombay High Court observed that payments made while search proceedings are continuing may not automatically qualify as voluntary d...
Goods and Services Tax : The Kerala AAR held that advance ruling applications cannot be based on hypothetical scenarios or academic questions. The Authorit...
Goods and Services Tax : The Kerala AAR held that medicines, consumables, room rent, and ancillary services provided during inpatient treatment form part o...
Goods and Services Tax : The GST Appellate Tribunal issued a detailed order constituting benches across India and classifying GST disputes into three categ...
Goods and Services Tax : The Principal Bench of GSTAT instructed scrutiny officers not to raise defects where appellants upload required soft copy document...
Goods and Services Tax : The Central Government amended Notification No. 14/2018-UT Tax by replacing officials listed against Serial No. 2. The notificatio...
Goods and Services Tax : The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. Th...
Goods and Services Tax : The data highlights a sharp increase in GST collections driven by import-related IGST. It confirms strong revenue performance and ...
With effect from financial year 2010-11, the threshold of gross turnover for getting the accounts audited has been enhanced from Rs. 40 lakhs to Rs. 60 lakhs. Further, dealers covered under the Package Scheme of Incentives are required to get their accounts audited irrespective of turnover limit.
In exercise of the powers conferred by sub-section (1) of section 41 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby amends the Government Notification, Finance Department, No. VAT. 1509/CR-89/Taxation -l, dated the 5th November 2009, as follows,
The Government of Maharashtra has introduced a Scheme of Composition („Scheme?) of VAT for registered dealers undertaking construction of flats, dwellings, buildings or premises and transferring them in pursuance of an agreement along with land or interest underlying the land. The rate of Composition under the Scheme shall be 1% of * the aggregate amount specified in the agreement or * the value specified for the purpose of stamp duty in respect of the said agreement, whichever is higher
The finance ministry has set up a five-member task force to frame rules for the proposed Goods and Service Tax (GST). A bill for the GST is likely to be finalised soon. It is likely to be introduced in the monsoon session of Parliament after the states’ concurrence. Once the legislative amendments are passed by Parliament and assemblies, the Centre will frame the new Act, which will govern the indirect tax structure.
Filling Station dealers i.e. Retail outlets of oil companies are not required under the Punjab VAT Act 2005 to calculate output tax or input tax on the sale and purchase of petrol and diesel in view of explanation 8 which was added lately to section 2(zg) explaining the sale price of oil companies in relation to the petrol and diesel under the Punjab VAT Act which runs as under:
Chief Ministers of the Congress-ruled states on Wednesday asked the Centre to protect states against any loss of revenue from the switchover to goods and services tax (GST). “The general feeling (among the states) is that there should not be any loss (to states),” Maharashtra Chief Minister Ashok Chavan told reporters after the meeting of Congress CMs with the Union Finance Minister Pranab Mukherjee.
The draft constitutional amendments, vital for the introduction of the proposed Goods and Services Tax (GST), have proposed the setting up of a tribunal to resolve the disputes arising between the Centre and states in the proposed GST council.
No.LTA.2009/ CR-98/Taxation-2. – In exercise of the powers conferred by sub-section (7) of section 22 of the Maharashtra Tax on Luxuries Act, 1987 (Mah. XLI of 1987), the Government of Maharashtra hereby amends the Government Notification, Finance Department,- No. LTA.2007/CR- 25/Taxation- 2, dated the 8th May 2007, as follows, namely:—
The law ministry is likely to finalise the Constitutional Amendment Bill on the Goods and Services Tax (GST) by next week. It will send draft of the Bill to the finance ministry which will share it with the empowered group of state finance ministers on GST for its feedback.
The Centre is likely to offer a sweetener to goods that go out of the exempted list for excise once the goods and services tax (GST) kicks in next year.While identifying the list of products that will go out of the 350item list, the Union finance ministry is looking at levying a lower rate of tax under the new regime.
