Goods and Services Tax : Understand GST provisions for invoices and credit notes in the sale of under-construction flats/shops, including time limits, e-in...
Goods and Services Tax : Guidelines for the second special drive against fake GST registrations outline coordinated efforts from August 16 to October 15, 2...
Goods and Services Tax : Advance ruling clarifies that RAIBAG TALUK MSPC’s food supply to Aanganwadis does not qualify for GST exemptions under specific ...
Goods and Services Tax : Explore the detailed analysis of Time of Supply (TOS) provisions under GST, including the point of taxation for goods and services...
Income Tax : Explore the key highlights and amendments in the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman. Find out what...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Goods and Services Tax : Explore the Ministry of Finance latest report on GST revenue collection in October 2023. Discover detailed analysis, state-wise fi...
Goods and Services Tax : CGST Mumbai South Commissionerate arrests a fake GST invoice racketeer, uncovering a Rs. 263 Crore fraud involving Rs. 7.66 Crores...
Goods and Services Tax : I propose that the CGST Department consider the introduction of a mechanism to remit interest on un-utilized ITC. Much like the sy...
Goods and Services Tax : In July 2023, India's GST revenue collection reached ₹1,65,105 crore, marking an 11% YoY growth. Domestic transactions saw a 15%...
Goods and Services Tax : Orissa High Court orders re-evaluation of time-barred GST appeals following Notification No.53/2023-Central Tax, dated 2nd Novembe...
Goods and Services Tax : Rajasthan High Court held that there is no restriction that application for advance ruling can be made only by the supplier. Even ...
Goods and Services Tax : Madras High Court rules that appeals cannot be dismissed for procedural lapses, emphasizing timely filing. Key case: Indian Potash...
Goods and Services Tax : Calcutta HC rules IGST credit wrongly claimed instead of CGST and SGST need not be reversed. Key details on the Cosyn Limited case...
Goods and Services Tax : Explore the detailed analysis of Andhra Pradesh High Court verdict in Raghavaiah Thelapalli v. State of Andhra Pradesh and Ors., s...
Goods and Services Tax : Ministry of Finance updates Central Tax rates for railway services. Notification No. 04/2024 details tax exemptions. Effective fro...
Goods and Services Tax : CBIC notifies via Notification No. 03/2024 that agricultural packages over 25kg/25L are not considered 'pre-packaged and labelled'...
Goods and Services Tax : CBIC's Notification No. 02/2024 lowers GST rates on cartons, milk cans, solar cookers, and brooders' parts, effective 15th July 20...
Goods and Services Tax : CBDT shifts CGST functions to Superintendents of Central Tax. Circular No. 223/17/2024-GST details changes for registration and co...
Goods and Services Tax : Notification No. 15/2024-Central Tax dated 10th July 2024: E-commerce operators (not agents) now collect 0.25% (reduced from 0.50%...
Notification No. 15/2021–Central Tax Dated: 18th May, 2021 1. Days counting from RFD 01 to RFD 03, not to be counted in the period of 2 years in case of fresh refund application after rectifying the deficiencies 2. Form RFD -01W introduced, being refund withdrwal form, which can be filed before RFD 04 or RFD […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued an instruction to its commissioners for a special drive to dispose all the pending refund claims vide Instruction No. 10/2021 – Customs dated 13/05/2021. The drive is called as “Special Refund and Drawback Disposal Drive” which would be for the period from 15th of […]
1. Introduction 1.1 Dawn of GST started with a proposed system of undertaking transaction-level matching in the form of GSTR 1, 2 & 3 to check the claim of input tax credits (ITC). Further, the provisions in the law were also drafted keeping the proposed system in mind. However, due to the reasons best known […]
Article explains GST Provision related to Blocked Credit under section 17(5) of CGST Act 2017 on Supply of Goods /Service involved, Insurance of Motor Vehicle including motor cycle, Cost of Motor Vehicle, Servicing of Motor Vehicle, Life Insurance/health insurance of Worker & office Staff, Food & Beverages, Works contract service & Goods & Service for […]
Roshani Sana Jaiswal Vs Commissioner of Central Taxes (Delhi High Court) Delhi High Court which ruled that personal bank accounts of promoters cannot be attached under CGST 1. The respondent, before triggering the provisions of Section 83 of the Act, had to satisfy itself that there was a ‘pending’ proceeding under the provisions of Section […]
Section 16 (2) of CGST ACT of 2017 This second proviso to section 16 (2) of the CGST ACT provides the where a recipient fails to pay to the supplier of goods or services or both, other than the suppliers on which tax is payable on reverse charges mechanism basis, the amount towards the value […]
Introduction: The GST regime brought numerous changes to the pre-GST regime taxation. It brings various transactions into GST net which otherwise not liable to tax in pre – GST era by way of wide inclusive definition of supply and business further by way of Schedule I to supply. In this article author made an effort […]
M/s. Shree Gobind Alloys Pvt. Ltd. Vs Union of India and others (Orissa High Court) Section 16(2)(c) of CGST Act, 2017 provides Input Tax Credit should be allowed to the recipient only when supplier has discharged the Output Liability through utilization of input tax credit admissible in respect of the said supply or by cash […]
1. Waiver of Interest for the delay in deposit of tax for the month of March and April 2021 (Notification 08/2021-Central Tax dated 01st May 2021) 1. Taxpayer having turnover of more than Rs 5 crores 15 days from the due date: – 9% of the tax payable After 15 days from the due date:- […]
Introduction: 1. COVID–19 situation has been absolutely alarming and the Central & State Governments alongwith local authorities are trying their level best to combat the current situation. To ease the burden, there are certain relaxations announced by the CBIC like the relaxations announced in 2020. The present note explains the relaxations announced vide various notifications […]
