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...
Hello everyone coming with another article on GST, a very hot topic in discussion now a days , here is a gist of GST with meaning of some important terms which will help readers to understand the definitions properly and help practising chartered accountants to deal their clients efficiently in the matter of GST
The GST will replace at least 17 state and federal levies, making the movement of goods cheaper and seamless across a market holding 1.3 billion consumers, about four times the U.S. population. It would be far simpler than the current system, where a good is taxed multiple times at different rates.
In the Indian System, first time discussion on GST has been started in 2000. In 2000, The Vajpayee Govt. started discussion on GST by setting up an empowered committee. The committee was headed by Asim Dasgupta (FM of West Bengal).
The article is first in the series of articles to discuss intricacies of transitional provisions from existing indirect tax laws to Goods and Service Tax (GST) regime. This also highlights various open issues which need to be addressed timely by government so that there is smooth transition to Goods and Service Tax (GST) without any hiccup.
The ICAI Memorandum contains 84 suggestions on issues relating to leviability, registration, credit mechanism, transitional issues etc. for the consideration of the Government while framing the final GST Law. Addressing the issues in the ICAI Memorandum may make GST laws simple, fair and transparent and avoid litigation. check GST rate list here Download ICAI Memorandum […]
With the passage of the 122nd Constitutional Amendment Bill in the Rajya Sabha on August 3, 2016 with certain key amendments, which includes dropping of 1% additional tax on inter-state supply of goods, full (100%) compensation to States for any revenue loss for a period of 5 years, etc., followed by their adoption in Lok Sabha on August 8, 2016, the Government of India is racing hard to get GST implemented by April, 2017.
Goods and Service Tax (GST) as the name suggest is a one single tax on the supply of goods and services, right from the Manufacturing to the ultimate delivery to customer. Credits of input tax paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage and thus avoiding cascading effect.
The much awaited 122nd Constitutional Amendment Bill for implementation of Goods and Service-tax (the Constitutional Amendment Bill) has been passed by the Rajya Sabha on 3rd August 2016. Rightly so, 3rd August 2016 is the historic day in Indian taxation system, as on this day all multiple Indirect tax levies are set to be replaced by one tax – Goods and Service Tax (GST).
The GST law is still evolving and the dialogue continues between the Centre and the States on related issues. A number of procedural, legal and administrative issues relating to GST are under active discussions in various Committees / Sub-committees constituted by the EC and in various Groups constituted by the CBEC.
Introduction of Goods and Services Tax (GST) is one of the important perfection and the next logical step towards a widespread indirect tax reforms in India. GST shall also apply in Jammu & Kashmir (‘J&K’).
