Goods and Services Tax
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GST ITC on Employee Uniform: Exploring Eligibility and Criteria
Advance Ruling Mechanism under GST law & recent advance rulings
GST: Calcutta HC stays Section 61 notice over jurisdiction issue
Advocate’s Failure to Inform Client Doesn’t Justify Appeal Delay: Court Ruling
Interface of Insolvency and Bankruptcy Code and GST: Emerging Jurisprudence
Exporting with Tax Payment vs Bond/LUT: What’s Better?
Herbal Body Oil for soft, smooth, glowing & healthy skin attracts GST @28%
Electronic Credit Reversal and Re-claimed Statement on GSTN
New GST Portal Feature: Credit Reversal & ITC Reclaimed Statement
GST on Royalty paid to Government for Mining rights
GSTN warns against unauthorized scraping of GST Common Portal
Assessee is responsible to monitor GST Portal after cancellation of GST registration
GST Audit cannot be conducted after winding up of business
Notification no. 14/2022-Central Tax inserting explanation in rule 89 of CGST Rules has prospective effect
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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