Goods and Services Tax : GSTN has made Table 3.2 of GSTR-3B non-editable with auto-population from GSTR-1/1A/IFF. The update ensures consistency in inter-S...
Goods and Services Tax : Lower GST rates and tax reforms boosted consumption and manufacturing, driving India’s GDP growth to 8.2% despite global economi...
Corporate Law : India implements four new Labour Codes consolidating 29 old laws, modernizing wage, safety, and social security regulations, while...
Goods and Services Tax : Tribunal introduced a phased filing schedule to prevent system congestion on new electronic platform. The directive ensures orderl...
Goods and Services Tax : Essential steps for filing GST appeals before the Appellate Tribunal, covering order review, appeal drafting, documentation, and a...
Goods and Services Tax : Explore the robust growth in GST collection for FY 2023-24, crossing Rs. 20 lakh crore, reflecting economic resilience and improve...
Goods and Services Tax : April, 2023 has registered a revenue collection (GST) at Rs. 187 lakh crore, which is the highest ever since introduction of GST i...
Goods and Services Tax : GST book on ‘Assessment, Adjudication, Demand & Recovery’ provides a one point lucid guide which is an easy to und...
Finance : A realistic consequence of COVID pendamic could be counted in terms of loss of jobs, stagnant or reduced employment opportunities,...
Goods and Services Tax : New Book on GST Namely Compendium of Judicial Pronouncements (Relevant under GST Regime) Authored by Dr. Sanjiv Agarwal and publi...
Service Tax : Explore exemption under Entry No. 14 for machining of rails in case of Voestalpine VAE VKN India Pvt. Ltd. vs. Commissioner of Cen...
Goods and Services Tax : AAAR held that supply of coaching service by the appellant along with supply of goods/printed material/test papers, uniform, bags ...
Goods and Services Tax : Chandra Prakash Mishra Vs Flipkart India Private Limited & Ors. (Supreme Court of India) In Chandra Prakash Mishra v. Flipkart...
Goods and Services Tax : In re Resonance Eduventures Limited (GST AAR Rajasthan) The order is important as it contradicts its own ruling in Symmetric Infra...
Goods and Services Tax : In re Symmetric Infrastructure Private Limited (GST AAR Rajasthan) Q.1 Applicant supplies services of coaching to students which a...
There have been various compliance related relaxations and extension of last dates in relation to GST. Some of them are listed hereunder including other recent amendments. Amendment in Rule 36(4) on ITC Rule 36(4) of CGST Rules, 2017 has been amended to the following effect: Before amendment: The registered person shall be required to claim […]
Covid-2019 or Corona virus has impacted almost entire world including India. It has changed the way of life and has impacted businesses deeply and adversely so much so that even many resourceful and strong economies are facing its dreaded impact. The economies have been hit by and large in all sectors including corporate performance, banking, […]
Central Government has provided various relaxations on payment and in filing of returns which, inter alia include allowing delayed payment of taxes, lower or nil rate of interest, extension of due dates for payment of GST and filing of GST returns etc.
Hit by the dreaded virus- CORONA or COVID 19, as it is called, the world (180 + countries) is under the pandemic and struggling to fight and overcome the virus. All affected nations are on their toes to combat the disease by all means in a war against Corona. This virus, as we all know […]
The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates and date […]
Today in GST Council’s 39th meeting in New Delhi. Amid economic slowdown and under the threat of Corona virus now, there are dark clouds hovering over Indian and global economy. At this point in time, one does not know the overall impact of virus on economy and lives. If it damages more, as it appears, […]
A major controversy these days is on payment of interest for delayed GST on gross or net amount (net of ITC). Department is now demanding interest on gross amount and has sent numerous recovery notices throughout the country. However, there are few high court judgments to the contrary.
The next GST Council meeting is scheduled for 14 March, 2020 at New Delhi. It will, inter alia, take up the issue of compensation to states in the backdrop of revenue shortfall. States are already concerned over delayed release of compensation cess to them. Meanwhile, centre has already released a total of Rs. 1.20 lakh […]
Tax evasion and related arrests on tax offences have increased in last few weeks and the amounts involved are huge running into few thousand crores. Is it tax terrorism ! not for evaders. However, compliances continue to be troublesome. ‘We evolve and mature as we grow’ seems to be the Government’s stance. CBIC appears to […]
So far as GST is concerned, the focus of budget is on simplification and curbing tax evasion. A new return regime will happen from April 2020 including SMS based filing of Nil returns, return pre-filing and improved input tax credit. Electronic invoices will check tax evasion while refunds would be easier with so manual interface. The Budget also proposes to impose penalty on fake GST invoices.
