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...
Rule 2(e) defines ‘point of taxation’ as the point in time when a service shall be deemed to have been provided. This will be determined as per Point of Taxation Rules 2011. The determination of point of taxation shall be crucial to determine the timing of service tax liability and the applicability of rate of service tax. The taxability will be decided by point of taxation only. The Point of Taxation rules provide for various situations to determine the point of taxation.
Vide Notification Nos. 6/2013-ST, 7/2013-ST and 8/2013-ST, all dated 18.4.2013, Central Government had exempted the taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory subject to certain conditions. Later, few other exemptions have been exempted vide Notification Nos. 10/2015-ST and 11/2015-ST, both dated 08.04.2015.
The Board vide Circular No. 113/07/2009-ST had laid down the procedure for carrying out detailed scrutiny of Service Tax Returns (ST-3) and had circulated a return scrutiny manual for Service Tax.
The Finance Act, 2015 had brought two important changes in Service Tax – (i) Issue of electronic invoices and its authentication by Digital Signature [Rule 4C] (ii) Maintenance of records on Electronic Form [Rule 5(4)] CBEC has now issued Notification No. 18/2015-Central Excise dated 06.07.2015 and a Circular No. 224/44/2014-CX dated 06.07.2015 to make the above rules operational implying that assessees can now use the benefit provided by Rule 4C and Rule 5(4).
Amendments shall have the following effect w.e.f. 14.05.2015– (1) The remedy of appeal to Tribunal u/s 86 is not available in every case as it has now been provided subject to the saving clause ‘save as otherwise provided herein’. The provisos added provide that saving. Thus, scope of section 86 has been curtailed. (2) Any appeal against the order of Commissioner (Appeal) in relation to matters concerning rebate of Service Tax (e.g. exports) shall be governed in terms of section 35EE of Central Excise Act, 1944.
Simply put, goods and services tax is a tax levied on goods and services imposed at each point of sale or rendering of service. Such GST could be on entire goods and services or there could be some exempted class of goods or services or a negative list of goods and services on which GST is not levied. GST is an indirect tax in lieu of tax on goods (excise) and tax on service (service tax).
The Union Government in third week of December, 2014 (19 December, 2014) introduced Constitution (122nd Amendment) Bill, 2014 in Parliament which when passed shall pave the way for introduction of proposed Goods and Service Tax (GST) in India. This is an improvised version of lapsed 115th Amendment Bill of 2011.
The Cenvat Credit in respect of inputs may also taken on receipt of the inputs in the premises of the job worker, where in case of goods are sent directly to the job worker on the direction of the manufacturer or the provider of output service.b) Time limit for taking credit on inputs and input services from the present 6 months to one year from the date of invoice.
Dr. Sanjiv Agarwal ‘Resident firm’ can be Applicant (w.e.f. 1.3.2015) Vide Notification No. 9/2015-ST dated 1.3.2015, the facility of advance ruling has been extended to all resident firms w.e.f. 1.3.2015 by specifying the ‘resident firms’ under section 96A (b) (iii) of the Finance Act, 1994. For this purpose, ‘resident’ and ‘firm’ have also been defined […]
The Finance Bill, 2015 has been enacted as Finance Act, 2015 (Act No. 20 of 2015) on 14th May, 2015 after the assent of President of India. The provisions of Finance Act, 2015 shall therefore, become applicable w.e.f. 14.05.2015 save as otherwise provided in the Act. Such provisions shall be notified to be in force only from the notified date for which a notification shall be issued soon.
