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...
Article explains GST Compliances Related Tasks for FY 2020-21, ITC Related Tasks for FY 2020-21, GST Reconciliations Related Tasks for FY 2020-21 & GST Law Related Year ending Task for FY 2020-21.
Let us discuss the definition of ‘Agent’ in GST. An agent has been defined under sub-section (5) of section 2 of The Central Goods and Services Tax Act, 2017, (herein after referred to as CGST ACT). I reproduce below the said definition for ready reference. “(5) “agent” means a person, including a factor, broker, commission agent, […]
A feature to view the e-Way bill blocking/un-blocking history of a tax payer is developed and is being rolled out. The feature is enabled at Pan India Level. It has the following interfaces to search the e-Way bill history of a tax payer.
Assessment Under GST Section-59 Self Assessment Overview -GST was introduced on 01st July 2017, It has been around 3.5 years, since its beginning every taxpayer had option for self assessment to rectify for any mistake or error done while complying with the provisions of GST Act & Rule made there under as per section-59 Self Assessment. […]
Quarterly Returns with Monthly Payment (QRMP) Scheme The Central Board of Indirect Taxes & Customs (CBIC) introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax (GST) to help the taxpayers having turnover less than Rs. 5 crores. The QRMP scheme allows the taxpayers to file GSTR-3B on a […]
In the ongoing drive to counter the menace of fake billing operators, information from analytics tool NETRA (Network Exploration Tool for Revenue Augmentation), was developed by the officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi East to unearth a network of fictitious firms used to generate and pass on fake Input Tax Credit (ITC) of Goods and Service Tax (GST).
In a recent order dated 15.02.2021, Hon’ble Bombay High Court, in the case of Daulat Samirmal Mehta v. Union of India, W.P. No. 471 of 2021 has passed an important order on power to make arrest under Section 69 of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017). As per the facts […]
From 01.04.2019 the effective rate of GST applicable on construction of residential apartments by promoters in a real estate project are Sl No. Description Effective Rate of GST ( After deduction of Value of Land ) 1 Affordable Residential apartments 1% on total consideration (Without ITC ) 2 Other than Affordable Residential apartments 5% on total Consideration (without ITC […]
Madras High Court quashes communication rejecting GST credit claim. Petitioner’s efforts to upload details noted. Order directs Form TRAN-1 uploading within eight weeks.
In a communication sent to FM Nirmala Sitharaman today, Confederation of All India Traders has highlighted that both the GST revenue and tax base could increase substantially if the Central & State Govts worked closely with trade bodies & tax professionals to Simplify GST & promote ease of doing business. Confederation of All India Traders […]