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...
Watch the video to enrich your knowledge regarding the present status and updates on GST. With the intention of throwing light on areas to be worked upon for the GST Laws – CGST, SGST and IGST, this presentation made by CA Bimal Jain on GST – Overview, RNR, Open Issues by CA Bimal Jain at the International Indirect Tax & GST Conference organised by the PHD Chambers of Commerce on December 17, 2015, focuses on following various suggestions/ issues.
Tax is a Latin word and derived from the word Taxo means rate. Tax is a financial charge levied by the government (central / state / local body) for meeting the public expenditure like road, dams, army for safe guarding the borders etc. the dictionary meaning of tax A compulsory contribution to state revenue, levied by the government on workers’ income and business profits, or added to the cost of some goods, services, and transactions: higher taxes will dampen consumer spending.
Goods & Service tax (GST), the mile stone tax reform since independence of India is on its way to implementation journey and proposed GST bill is under discussion everywhere. This is very crucial stage to understand the various methodologies proposed in the GST bill.
GST has been missing several deadlines in the past. Perhaps, the only major reform both India and the World were looking at from the Parliament’s winter session was the passage of the 122ndConstitutional Amendment Bill, 2014 (122nd CAB or GST Bill), which promised to bring in the biggest indirect tax reform in the Country ever happened.
Advocate Anandaday Misshra As on date, there will be no levy of GST on Petrol and other petroleum products. Chief Economic Advisor Mr. Arvind Subramanian, on this Sunday, stated that Petrol and other petroleum product shall be outside the ambit of Goods And Services Tax (GST) regime after its roll out. At the same time it must be noted […]
Good and Services Tax is the most logical steps towards the comprehensive indirect tax reform in India since independence. Goods and Services Tax is to be implemented shortly by the Government of India. GST is leviable on every transaction involving supply of goods and/or services as well combination thereof. However, there is still no clarity […]
The taxable event in any tax law is of utmost significance as the levy of tax is based on occurrence of that event. For instance, taxable event for excise is ‘manufacture’, for VAT/CST is ‘sale’, for service tax is ‘Provision of service’, etc. Under GST all the taxable events will be replaced with only one event which is “Supply” and hence the term supply will be the backbone of the GST Act.
Goods & Service Tax in India will result eradication of various exemptions .This is also clear from the statement of Shri Najib Shah, chairman, Central Board of Excise and Customs (CBEC), who aired that Tax exemptions until now extended to industry for their expansion and diversification will have to go with GST legislation becoming a reality,
The Constitutional (122nd Amendment) Bill, 2014 which is now pending in Rajya Sabha for passage faces challenge from main opposition party, Indian National Congress. It mainly wants the GST rate capped at 18 percent in the Amendment itself, removal of additional one percent tax for the manufacturing states (Gujarat, Maharashtra etc) and an independent dispute redressal mechanism.
The GST is a taxation system where there is a single tax in the economy for goods and services. This Taxation System is meant to create a single taxation system in the entire country for all goods and services. GST is destination based tax. The GST is called Single biggest tax reforms after independence.
