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 : 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 : Understand GST provisions for invoices and credit notes in the sale of under-construction flats/shops, including time limits, e-in...
Goods and Services Tax : In the recent times, GST Department by exercising the powers bestowed on them by way of Section 65 of the CGST Act 2017, has been ...
Goods and Services Tax : Get the latest updates on GST portal advisories issued in July-August 2024, including changes in registration, refund processes, a...
Goods and Services Tax : 16 अगस्त से 15 अक्टूबर 2024 तक सीबीआईसी द्वारा जीएसटी फ�...
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 ...
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...
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 : Madras HC sets aside dismissal of GST appeal for delay, remands case to the appellate authority for fresh consideration despite th...
Goods and Services Tax : Delhi HC grants interim protection to a petitioner alleging misuse of GST credentials for ITC claims, pending further investigatio...
Goods and Services Tax : Bombay High Court held that amount payable has been quantified before 30th June 2019 and hence eligible to avail benefit under Sab...
Goods and Services Tax : Rajasthan HC ruled that appeals should be considered on merits, even if filed late, quashing a CGST order dismissing an appeal as ...
Goods and Services Tax : Rajasthan HC dismisses petition challenging 18% GST on samosa and kachori, directs Sodhani Sweets to approach the Appellate Author...
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...
At present, there are different levy of taxes for Goods and Services respectively by different Governments. The legislations dealing with VAT, Excise and Service Tax are independent of each other and a transaction is often subject to both VAT and Service Tax or Service Tax and Excise due to the lack of clarity in the Taxing Statutes.
The model GST law as released by the Government / Empowered Committee on GST is in public domain since mid June 2016. The proposed provisions only conveys the Government’s intention to levy GST in India and the manner in which it will be administered, levied , collected and implemented.
On going through the Model IGST Law, it is noticed that many of the concessions/exemptions available hitherto under Central Sales Tax (CST) Act are not incorporated in the Model IGST Law. While the GST is expected to be provide seamless credit on all transactions, with minimum exemptions/concessions
Owing to the federal structure of India, where there are two taxing authorities – the Central Government and the State Government(s), the Country has witnessed overlapping of powers of the State Government(s) and the Central Government.
GST or the Goods and Services Tax is an indirect tax that replace most of the taxes that are imposed on all goods and services (except a few) under a single banner. This is in contrast to the current system, where taxes are levied separately on goods and services.
Dr. Hasmukh Adhia, Revenue Secretary, Government of India spells-out the future road-map for the GST roll-out w.e.f. 1st April, 2017. During the interview Dr. Hasmukh Adhia said that the threshold limit for GST would be around Rs. 25 lakhs. Discussions are on with the States on this limit.
The Minister said that the Government is taking several steps to promote the medical devices sector in the country. The inverted duty structure has been set right. Sh. Ananth Kumar said GST will further bring down the taxation in the sector by almost 12 per cent.
In this article, you will get a fair idea of timeline for imposing CGST/SGST on goods/services respectively. Section 12 and section 13 of the act rule point of taxation under GST act.
They say, there is nothing called a free lunch. For argument’s sake, let’s suppose there is. Can that be taxed too? Mr. Legal Eagle is among the top Chartered Accountants of the country, he represents only the who’s – who of the business world.
The aim is to create a GST with the widest possible base. The GST will replace the plethora of indirect taxes levied on goods with a single levy, which will help create a seamless national market for delivery of goods and services. The proposed GST Law should support the Government’s overall initiative of ease of doing business and offer a simplified tax regime.
