Goods and Services Tax : Get a detailed summary of the latest GST notifications and circulars issued on 10 July 2024, including changes in GSTR 1, ISD mech...
Goods and Services Tax : Explore the major decisions from the 53rd GST Council Meeting, including tax rate changes, compliance relaxations, and new measure...
Goods and Services Tax : Tamil Nadu AAR ruling clarifies GST applicability on goods sold from 3P FTWZ to bonded warehouse under MOOWR scheme. Analysis of S...
Goods and Services Tax : Explore the implications of GST on hotels & restaurants in India. Detailed analysis of rate changes, billing procedures, and indus...
Goods and Services Tax : Today, we are talking about cross empowerment of the Central and State Authorities under GST. It has been seen there is ambiguity ...
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 : Requested to provide one-time amnesty by waiving-off the late fees under section 47 and penalty under section 125 of the CGST Act ...
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 : Learn about the dismissal of Best Recharge appeal regarding interest payment on excess Input Tax Credit. Details of the case and c...
Goods and Services Tax : HC held that According to Section 12 of Limitation Act, 1963, the day order was signed and the day judgment was pronounced shoul...
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%...
CBIC vide Notification No. 08/2021- Central Tax Dated: 1st May, 2021 provides Relaxation in the interest rate based on Turnover to those who have to file GSTR 3B and also to Composition dealers. Relaxation is for Tax Period ending on 31st March 2021 and for 30th April 2021. Ministry of Finance (Department of Revenue) (Central […]
AMENDMENTS IN CENTRAL GOODS AND SERVICE TAX ACT, 2017,INTEGRATED GOODS AND SERVICE TAX ACT, 2017 AND AND CENTRAL SALES TAX ACT BY THE FINANCE ACT 2021. The Finance Act 2021 has been passed by both the houses of parliament and the President has given assent on 29.3.2021. The Finance Act 2021 has amended the CGST […]
Bhavesh Kiritbhai Kalani Vs Union of India (Gujarat High Court) 1. There are no proceedings against the present petitioner under Sections 62, 63, 64, 67, 73 and 74 of the Act. 2. There is no reason therefore, to invoke section 83 against the writ applicant and proceedings. 3. Since the proceedings are initiated by the […]
The Hon’ble AAR Rajasthan in M/s. Jeet & Jeet Glass and Chemicals Private Limited [Advance Ruling No. RAJ/AAR/2020-21/08 decided on August 24, 2020] held that the activity of job work consisting of bullet proof body building on the motor vehicles provided by the Principal is a supply of service and attracts GST @18% (9% CGST +9% […]
HC directed the Authorities to refund the sanctioned amount. Held that, circular cannot stand in way of a benefit under a statutory scheme and is contrary to the statutory provisions of Section 54(3) of the Central Goods and Services Tax Act, 2017.
One of the changes proposed in the budget vide Section 101 & 102 of the Finance Act. 2021 is deletion of sub-section (5) of Section 35 of the CGST Act 2017 and substitution of Section 44 of the CGST Act 2017. Before this amendment was proposed, it was mandatory for every registered person whose Aggregate turnover exceeded Rs. 2 Crores in a financial year to get his accounts audited as specified under Section 35(5) of the CGST Act 2017 and furnish a Reconciliation Statement (GSTR-9C) duly certified by a Practicing Chartered Accountant or Cost Accountant. However as per proposed amendment as mentioned above, going forward this Reconciliation statement is expected to be self-certified by the registered person, thereby obliterating the requirement of certification on the veracity of the same by practicing Chartered Accountants or Cost Accountants.
Direction to Union of India (UOI) and CBDT for issuing appropriate instructions or guidelines to the exercise of power under Section 83 of the CGST Act, 2017 Generally, in each and every matter in which proceedings under Section 67 of the CGST Act, 2017 are initiated, an order of provisional attachment of the bank accounts […]
As the day progresses we professionals are going through lot of GST amendments, circulars, notifications etc .and yet we are finding it how to make it good and simple tax for our clients .In this budget, the main focus of government was to collect tax overruling all previous supreme court judgments or high courts judgements. […]
Today I am discussing Major GST Proposals in Union Budget 2021 in very simplified manner- Analysis of Proposed Provisions related to CGST ACT- ♠ Section 7(1)(a) –New clause inserted (aa) – Supply includes supply of goods or services by clubs or associations to its members and that to retrospective effect -01.07.2017 ,for cash ,deferred payment […]
Article discusses Proposed Amendment in GST (CGST & IGST) vide Union Budget 2021. CGST Act, 2017 1. Insertion of clause (aa) to Section 7(1): Sec. 7(1)(aa) is sought to be inserted so as to ensure levy of tax on activities or transactions involving the supply of goods or services by any person, other than an […]
