Goods and Services Tax
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Recent Updates in GST till 03rd May 2024
Expiry of waybill: No penalty if no intention to evade tax
GST: Whether book adjustment is treated as payment?
Collection of Entry Fee for Temple Hall Exempt from GST: AAR Rajasthan
GST: Order must be passed with 7 days of service of notice of detention/seizure
Petitioner Liable for Interest on Erroneous ITC/GST Refund: Madras HC
Complexities of GST Notifications
No GST on entry fee collected from visitors/devotees/pilgrim by religious trusts
ITC on Building Repair: AAR Rajasthan allows withdrawal of Application
ITC on Mercedes purchase not eligible as applicant opted for a lower tax rate
Gujarat HC Grants Bail in Rs. 6.67 Crore GST Evasion Case
Appellate Authority can condone delay in Filing GST Appeal beyond limitation period: Calcutta HC
Verdict Under Scrutiny: Saga of Madras High Court Decision for GST on Hostels
RCM in GST: Basics, Analysis, & Impact
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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