Understand the Goods and Services Tax (GST) and its impact on businesses. Learn about GST rates, compliance requirements, and its role in simplifying taxation. Stay updated with the latest GST news and updates.
Goods and Services Tax : As per Section 18(6) of the Central Goods and Service Tax Act, 2017 In case of supply of capital goods or plant and machinery, on ...
Goods and Services Tax : Reverse Charge Mechanism (RCM) in GST is a system where the recipient of goods or services is liable to pay the tax instead of th...
Goods and Services Tax : The Finance (No 2) Act 2024 been notified on 16th August 2024. The Finance Act sections 114 to 157 Page 114 to 157 (Page 67 to 6...
Goods and Services Tax : Overview of GST tax liability, self-assessment, and the distinction between scrutiny under Section 61 and actions under Sections 7...
Goods and Services Tax : Karnataka HC ruled that under Section 75(4) of CGST Act, a hearing opportunity must be granted before passing an adverse order. Ba...
Goods and Services Tax : Join our webinars on GST Tribunals preparation. Learn to grow your IDT practice and prepare for GSTAT with expert guidance. Regist...
Goods and Services Tax : A Superintendent in Nadiad is sentenced to 5 years for bribery. CBI also investigates two GST officers in Hyderabad for demanding ...
Income Tax : Explore the latest updates on tax benefits for skill development institutions in India, including GST exemptions and income tax re...
Goods and Services Tax : Explore the latest details on GST rates for agricultural equipment, machinery, and fertilizers, and the government's stance on pot...
Income Tax : On August 5, 2024, it was clarified in the Lok Sabha that there are no specific tax incentives or waivers currently in place for t...
Goods and Services Tax : Allahabad High Court ruled Section 130 of GST Act can't be applied for excess stock found during search; Section 73/74 should be u...
Goods and Services Tax : Allahabad HC rules that GST authorities can survey business premises for verifying transactions when goods are intercepted without...
Goods and Services Tax : Madras High Court judgment on Hajee S M Ahamed and Company vs Deputy State Tax Officer, remanding ₹25,000 GST demand and ₹1.36...
Goods and Services Tax : Calcutta HC reinstates GST appeal for Rahul Bansal, ruling technical glitches can't negate statutory rights to challenge orders un...
Goods and Services Tax : Kerala High Court grants a petitioner the opportunity to challenge GST assessment orders uploaded post-registration cancellation, ...
Goods and Services Tax : Maharashtra GST Circular No. 21T of 2024 updates guidelines for recovering outstanding dues after first appeal until the Appellate...
Goods and Services Tax : Instruction No. 03/2024-GST outlines procedures for CGST audits, emphasizing uniformity and reducing litigation through adherence ...
Goods and Services Tax : Kerala SGST department issues a circular clarifying the method of penalty calculation under the IGST Act, 2017 for tax demands mad...
Goods and Services Tax : CBIC's latest updates include a Customs cooperation deal with New Zealand, a new Hindi magazine, and significant seizures of smugg...
Goods and Services Tax : CBIC issues guidelines for a second All-India drive to detect and eliminate fake GST registrations, safeguarding government revenu...
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 […]
CBIC vide Notification No. 08/2021-Union Territory 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 […]
CBIC vide Notification No. 01/2021-Integrated 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 Board of […]
10 Advisory Points by a CA which are generally not followed by SMEs and Public at Large 1) GST ♦ Amendment of GST Registration – Updating all Place of Business, HSN and SAC Code of new products / services, Bank Accounts, Change in Management and Authorised Signatories ♦ Voluntary use of 8 digit HSN Codes […]
Representation regarding bringing of GST Amnesty Scheme-2 to file the old GSTR 3B, GSTR-1 returns since July 2017 till date upto 30th September 2021 without any late fee or with nominal fixed late fee.
State of Gujarat is facing acute shortage of medical oxygen and related accessories, ventilators, vaccine, medicine etc. Large number of Corporates, NGOs and individuals are coming forward to help the State Government in its efforts to overcome the Pandemic by way of procuring such material from foreign countries.
The gross GST revenue collected in the month of April’ 2021 is at a record high of Rs. 1,41,384 crore of which CGST is Rs. 27,837 crore, SGST is Rs. 35,621, IGST is Rs 68,481 crore (including Rs. 29,599 crore collected on import of goods) and Cess is Rs. 9,445 crore (including Rs. 981 crore collected on import of goods).
Provisional attachment under section 83 of Central Goods and Services Tax Act 2017 in the light of latest Apex Court pronouncement in the case of Radha Krishan Industries Vs State of Himachal Pradesh. The Goods and Services Tax (hereinafter referred as ‘GST’) was introduced in India in the year 2017 w.e.f. 01.07.2017. GST is a […]
1. Rule 138 of CGST Rules and respective SGST Rules of the different States requires every registered person who causes movement of goods of consignment value exceeding Rs. 50,000 in relation to a supply; for reasons other than supply; or due to inward supply from an unregistered person to generate e-way bill for the movement […]
GST – Major Change to be executed in GSTR 1 filed from 1st May 2021 onwards. 1st April 2021 marked the new change for imposition of 4/6/8 digit HSN/SAC codes regarding HSN/ SAC codes as below link. https://taxguru.in/goods-and-service-tax/16-bullet-points-gst-hsn-code-requirements.html 12 points need to be noted for the GSTR-1 for the month of April 2021 to be […]
