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%...
Services by way of transfer of development rights (TDR) or Floor Space Index (FSI) (including additional FSI) on or after 01st April 2019 for construction of a project against consideration paid or payable by developer, wholly or partly, in the form of construction service of commercial or residential apartments in the project
Notification No. 27/2019- Central Tax (Rate) dated 30th Dec, 2019 i. Seeks to further amend notification No. 01/2017-Central Tax (Rate), to change the rate of GST on goods as per recommendations of the GST Council in its 38th Meeting. ii. Rate of GST rate on Woven and Non-Woven Bags and sacks of polyethylene or polypropylene […]
CBIC fixes 32 Defects for Taxpayers on GST Portal as on 20.12.2019 which includes defect related to Adjudication, All Modules, Assessment & Adjudication, Assessment- Reply to SCN in cases of penalty, Assessment, Form ITC 04, New Return – Preparation of GST ANX 1 Online, Payment, Refund, Registration – Search Taxpayer, Registration- Adding a foreign Promoter, […]
In order to curb fake invoicing, tax evasion and to promote the tax payer services (pre-population of ANX-1 & II and reducing reconciliation problems) in better way, a much needed E-Invoicing finally going to be implemented in the phased manner.
Dear Readers, in this coolest winter season, now the government is planning to give some heat to the GST Return Defaulters. This time the government is not in the mood of giving any further opportunity to GST Return Defaulters. To penalize these defaulters GST Department has issued back to back notification number 74/2019-Central Tax, Notification […]
The GST Council in its 38th Meeting held on 18th December, 2019 at New Delhi decided to take certain measures to curb the issue of ITC being availed on fake invoices as well as fall in monthly GST revenue collection. Input tax credit to the recipient in respect of invoices or debit notes that are […]
Late fee waiver for furnishing GSTR-1 for the period July-2017 to November-2019 up to 10th January 2020 CBIC waives late fees for non- filing of FORM GSTR-1 from July, 2017 to November, 2019 vide Notification No. 74/2019 – Central Tax Dated: 26th December, 2019. Government has notified that the amount of late fee payable shall […]
The Central Government vide CGST Notification No. 68/2019,69/2019,70/2019, 72/2019, has amended the Central Goods and Services Tax Rules, 2017, thereby introducing the Central Goods and Services Tax (Eighth Amendment) Rules, 2019. These rules have been brought to implement the provisions of Electronic Invoicing. ‘E-invoicing’ or ‘electronic invoicing’ is a system in which the invoices are […]
Job Work Rates Summarised – After October 2019 Notification Changed Rates of Job Work JOB WORK RATE 5% – A. Services by way of JOB WORK OF GOODS BELONGING TO ANOTHER REGISTERED PERSON in relation to- (a) Printing of newspapers; (b) Textiles and textile products falling under Chapter 50 to 63 (c) all products falling […]
Standard Operating Procedure (SOP) issued in case of non filling of GST returns Vide Circular No. 129/48/2019 – GST on 24th December 2019, CBIC has issued Standard operating procedure to be followed in case of non-furnishing of GST return is being issued. In the 38th GST council meet, one of the recommendation was to set […]
