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 : The article explains that ITC eligibility under Section 16 can still be denied by the overriding provisions of Section 17(5). It h...
Goods and Services Tax : Understand the key rules governing ITC claims under GST, including eligibility conditions, blocked credits, GSTR-2B reconciliation...
Goods and Services Tax : The Supreme Court ruled that fantasy sports involving monetary stakes constitute betting and gambling for GST purposes. The judgme...
Goods and Services Tax : The article argues that Rule 14A creates a compliance trap by restricting taxpayers from reporting actual liabilities after crossi...
Goods and Services Tax : The article examines how NGTP classifications are increasingly being used as standalone grounds for ITC blockage and fraud proceed...
Goods and Services Tax : The Rajasthan GSTAT Bar has urged the Tribunal to adopt a pragmatic approach by accepting pre-deposits made through the Electronic...
Goods and Services Tax : Haryana recorded the highest State GST growth rate in India at 22% in May 2026. The achievement is attributed to strong tax admini...
Goods and Services Tax : Practitioners are reportedly following different methods while completing GSTAT appeal forms because of inadequate guidance. The r...
Goods and Services Tax : The certificate clarifies that dealing and investment in securities are outside the scope of GST. Companies engaged solely in secu...
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 : The Authority held that retrospective insertion of Section 16(5) does not permit reclaim of ITC already reversed under earlier rul...
Goods and Services Tax : The Kerala High Court ruled that businesses could distribute common ITC through cross-charge without obtaining ISD registration be...
Goods and Services Tax : The High Court remitted the GST matter for fresh consideration after the taxpayer agreed to deposit 25% of the disputed tax. The C...
Goods and Services Tax : The Uttarakhand High Court held that scheduling a personal hearing before the expiry of the time granted for filing a reply violat...
Goods and Services Tax : The Court set aside a GST demand order after finding that the personal hearing was scheduled before the last date for filing a rep...
Goods and Services Tax : GSTN has postponed the implementation of mandatory "Ship To GSTIN" capture and voluntary E-Way Bill closure to 1 August 2026. The ...
Corporate Law : The 2026 amendments significantly expand disclosure requirements for operational creditors and corporate applicants. The changes a...
Goods and Services Tax : Gross GST collections reached ₹1.94 lakh crore in May 2026, registering 3.2% growth. The increase was driven largely by a 19.1% ...
Goods and Services Tax : The West Bengal GST Department ruled that intra-State movement of goods related to job work remains exempt from e-way bill generat...
Goods and Services Tax : GSTN has announced mandatory capture of Ship-To GSTIN in Bill-To/Ship-To transactions under the EWB system. The change aims to imp...
1. CBEC vide circular No. 135/05/2020- GST dated 31.03.2020 clarified following issues related to Refunds :- (a) Refund of accumulated Input Tax Credit (ITC ) on account of reduction in GST Rate (b) Guideline for Refund of Input Tax Credit under Sec 54(3) (c) New Requirement to mention HSN/SAC in Annexure ‘B’ (d) Change in […]
This article contains various Compliance requirements under Statutory Laws for the Month of April 2020. Compliance means adhering to rules and regulations. If you think compliance is expensive, try non‐ compliance” Compliance Requirement Under 1. Income Tax Act, 1961 2. Goods & Services Tax Act, 2017 (GST)& 39th GST Council Meeting Updates 3. Other Statutory […]
The CBIC issued Circular No. 135/05/2020-GST dated March 31, 2020 after receiving various representations seeking clarification on some of the issues relating to GST refunds: 1. Bunching of refund claims across Financial Years: – Issue: The restriction on clubbing of tax periods across different financial years was put in vide para 11.2 of the Circular No. 37/11/2018-GST dated […]
As the number of Coronavirus cases are continuously growing in India which forced the Indian Government to announce a ‘Lockdown’ for 21 days starting from 00:00 Hours of March 25, 2020. This Lockdown will definitely disrupt the businesses activities of all sectors as the Nation comes to pause. By understanding the disruption of the business […]
In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31.03.2020 which […]
GST on transactions under Real Estate Sector Outright Purchase of Land/Plots without tenants: – Situation where the promoter/builder purchase the plot/land on which they wish to construct their schemes, but this situation is very rare as this involves lot of working capital blocked as the cost of land is huge. Sr.no. Particulars Seller Promoter/Builder 1 […]
Article contains relevant sections, rules, circulars and gist of Circular No. 135/05/2020-GST Dated 31/03/2020 issued in regard of filing and processing of refund electronically. Refund is very important term under the GST for the person who is eligible to claim the refund and for the GST Authority who issues the refund order. Both persons i.e. who […]
In this article, we are going to discuss about the impact of GST on freight. As we already know that goods are transported through the three medium i.e. by road, air and sea, so we can categorised freight as Road freight, Sea Freight and Air Freight.
Article explains Why Aadhaar e-KYC based GST Registration is required, Amendment to CGST Act, 2017 related to Aadhar Authentication, Exemption from Aadhar authentication, Date of coming into effect of Aadhar authentication under GST, Amendment to Rule 8 and 9 of CGST Rules, 2017 related to Aadhar authentication, Amendment of Rule 25 (Physical verification) of CGST […]
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Due to the outbreak of Novel Covid-19, Finance Minister has announced several relief measures on 24th March 2020– √ Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. √ Aadhaar-PAN linking date to be extended from 31st […]
