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...
This part 2 will deal with FOB contracts of import, in which Freight component is separate and identifiable, as it is not included in the value of goods. The Importer pays the freight to the Shipping Line either directly or through his appointed CHA (Clearing House Agent), which is subject to RCM u/s 5(3) of the IGST Act, 2017.
In re Prettl Automotive India Pvt. Ltd. (GST AAAR Maharashtra) It is observed that all the activities being carried out by the Appellant are either ancillary or incidental to the principal supply, which in this case, is the supply of training services since it is not in dispute that all these activities carried out by […]
In re Manoj Mittal (GST AAR West Bengal) Whether supply of food and beverages made by the applicant shall be treated as supply of goods or supply of services and whether supply of catering services to an educational institution is exempt supply? (i) Supply of food and beverages from the sweetmeats counter by the applicant, […]
GST Department Issues Notices To Debtors of Defaulters To Make Good For Default In Deposit of GST Dues The status of Indian economy and tax collections is known to everyone. Recently, the date released by the department showed very good increase in the GST collections and GST collections crossed Rs. one lac crore mark continuously […]
With the increasing compliances, there grows the need for a safe and sound system and ERP software which can automatically take care of the future notices, audit and other queries. With Increasing GST Compliances and new technological changes, now there arises the need to minimize the financial stress and mental stress by increasing the use […]
Unconfirmed reports have appeared in certain sections of the media that some GST officers are using unauthorised communication means such as phone calls, WhatsApp and messages asking taxpayers to discharge ‘maximum tax liability’ in ‘cash’ in order to ensure that targets for revenue collection from GST for the financial year are met.
1. Attention ! GST TAXPAYERS WHO ARE NOT UNDER QRMP SCHEME File Your monthly GSTR-3B Returns for the month of February, 2021 before 20th March, 2021 Late filing of GSTR-3B Returns will attract late fee & interest 2. Attention ! Non-Resident GST Taxpayers! File Your monthly GSTR-5 Return for the month of February, 2021 before […]
In re Vijayavahini Charitable Foundation (GST AAR Andhra Pradesh) Question: Whether supply of drinking water to general public in unpacked/unsealed manner through dispensers/mobile tankers by a charitable organisation at a concessional rate is covered under exemption of GST as per Sl.No 99 of Notification 02/2017 – central tax (Rate) dated 28/06/2017? Sl.No.99. “Intra state supplies of […]
Since securities are not covered under Goods definition, E – Invoicing will not be applicable to companies dealing in securities however if the company is also providing broking services & is registered under GST and turnover is exceeding Rs. 100 Cr, then registration will be required under E – Invoicing.
GST Checklist Before Finalisation of Books of Accounts W.R.T Profit and Loss Items (PART-II) INTRODUCTION: A lot of legal considerations have to be kept in kind before finalizing books of accounts for the auditor to give a reasonable assurance that the financial statements of the client give a true and fair view. One of such […]
