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 : This article explains the composition levy scheme under Section 10 of the CGST Act, including eligibility, tax rates, compliance o...
Goods and Services Tax : The article explains how GST composition scheme, exemption rules, and time of supply provisions work in practice. It highlights co...
Goods and Services Tax : The GST Invoice Management System (IMS) promises stronger ITC reconciliation, fraud prevention, and invoice-level transparency. Ho...
CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
Goods and Services Tax : The article examines how denying ITC to genuine buyers due to supplier tax default creates constitutional and commercial concerns ...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims based on fake invoices without actual supply of goods or services. The accused was arr...
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims exceeding ₹8 crore without actual supply of goods. The ruling highlights that ITC is...
Goods and Services Tax : The Bombay High Court held that GST deposited during investigation before adjudication could not be treated as voluntary payment. ...
Goods and Services Tax : The Calcutta High Court set aside cancellation of GST registration for non-filing of returns, observing that preventing business o...
Goods and Services Tax : Punjab and Haryana High Court granted regular bail to an accused linked to alleged fake GST billing and forged documents. The Cour...
Goods and Services Tax : Gujarat High Court upheld confiscation proceedings under Section 130 after noting that goods were transported without an e-way bil...
Goods and Services Tax : The Andhra Pradesh High Court held that GST recovery proceedings under Section 79 can be initiated against a bank after an assessm...
Goods and Services Tax : GSTN has launched a standardized Annexure-B Offline Utility for refund applications involving accumulated ITC to enable automated ...
Goods and Services Tax : The GST Appellate Tribunal issued a detailed order constituting benches across India and classifying GST disputes into three categ...
Goods and Services Tax : The Principal Bench of GSTAT instructed scrutiny officers not to raise defects where appellants upload required soft copy document...
Goods and Services Tax : The Central Government amended Notification No. 14/2018-UT Tax by replacing officials listed against Serial No. 2. The notificatio...
Goods and Services Tax : The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. Th...
Crypto has become a parallel currency, allowing transfer of value held in digital wallet, from one person to another, without going through a central authority or bank and to allow the digital asset, as consideration for purchase of goods and services. This maxim, is most relevant to the context we discuss herein, as we understand the implications of GST on supply of such digital assets.
The Budget for infrastructure, connectivity and vision but lacks growth-invigorating proposals. A budget with big hopes for streamlining the GST Law, GST Rate balancing but received only Retrospective amendments. Budget for scrapping self-assessment for availing Input Tax Credit (ITC), ending constitutional right under self-assessment to assess GST. Lets have a look at the Amendments in […]
E-way Bill Section 68 (Inspection of Goods in movement) of Goods and service Tax act read with rule 138 of the rules framed thereunder. Mandates that the Government may require that person in charge of a conveyance carrying any consignment of goods of value exceeding Rs.50000 carry with him such documents. Movement should be:- i) […]
The wonder baby seamless flow of ITC which raised so many hopes and reduced the burdens, had been slowly placed into precarious health condition of late. On the Budget 2022 day it has been put on ventilator with no hope of recovery. The day when changes of Finance Act, 2022 are put into effect would be the date of death of seamless flow of ITC.
Analysis of changes in GST provisions in Budget 2022 and suggestions & Recommendations Sr No. Changes in Budget Analysis Recommendation Reason 1 Section 16(2)(ba) introduced as “ the detail of input tax credit on said supply communicated to such registered person under section 38 has not been restricted. 16(2) (ba) imposes an additional condition against […]
K.Vinodhkumar Vs Commissioner of GST and Central Excise (Madras High Court) Learned counsel for writ petitioner draws the attention of this court to Sub Rule (3) of Rule 86 A and submits that on a demurrer that even if the attachment is for a valid reason under 86 A, the same elapsed on 17.02.2021, on […]
In re Kapil Sons (Rajendra Kumar Baheti) (GST AAR Maharashtra) From the submissions made by the applicant we observe that the main contractor has been given a contract by MSRDC to construct tunnels for Mumbai Pune Expressway and accordingly, the main contractor has subcontracted the tunneling work to the applicant by way of drill and […]
Assistant Commissioner of Taxes, Bongaigaon, has reported that there is no record of the vehicle and there is also no proper document to support transportation of goods by the said vehicle as indicated by the petitioner in his petition as well as in the complaint. That being so, whatever papers submitted by the petitioner to prove the genuineness of his GST payment appears not only to be incorrect, but false also.
Roof mounted AC package Unit manufactured as per the specific design and layout provided by the railways (RDSO) and supplied to the Indian Railways only and no where else, falls under chapter 86.07 of the GST Tariff.
Average monthly gross GST collection for third quarter of FY 2021-22 is Rs.1.30 lakh crore Record GST collection of Rs.1,40,986 crore reported for January, 2022 The average monthly gross Goods & Services Tax (GST) collection for the third quarter of FY 2021-22 has been Rs.1.30 lakh crore against the average monthly collection of Rs.1.10 lakh […]
