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...
Refund mechanism under GST: simplified and tech-based:-The report says that GST law shall provide for the cases in which refund claim can be filed. It states some of such cases as excess payment of tax by mistake, export of goods and services under rebate claim, refund of accumulated credit in case of exports, finalization of provisional assessment, refund of pre-deposit where the demand is dropped wholly or partly, refund of tax payment made by embassies or UN bodies, credit accumulation due to output tax being nil or concessional, etc.
जीएसटी अर्थात वस्तु एवं सेवाकर को देश का सबसे बड़ा क्रांतिकारी एवं सुधार का टैक्स बिल भी कहा जा सकता है। संभावना इसकी भी है कि जीएसटी के माध्यम से सरकार देश का काला धन की अर्थव्यवस्था के बड़े हिस्से को इस कर प्रणाली में शामिल कर देश में व्याप्त कालेधन पर अपनी पकड़ मजबूत बना लें।
CA Vinod Kaushik What is HSN code? As per Wikipedia the Harmonised Commodity Description and Coding System, also known as the HSN (Harmonised System Nomenclature) is an internationally standardized system of names and numbers to classify traded products. These codes are basically used to fix rate of tax on various products at the time of […]
In India, GST will be levied by both tiers of Government concurrently. It will be ‘Dual Concurrent Model’ of GST. Central GST will be administered by the Central Government and State GST by respective State Governments. At present, Centre can levy tax on goods and services (e.g., excise duty on goods manufactured, service tax on services), but state has no power to levy tax on services.
How will Inter State Transactions be affected with the advent of GST? This is the basic question which is hovering over common man’s mindset these days. Will the situation be favourable or more adverse? Whether Rate to be increased/ decreased? Who will levy the tax- Centre or State? Will State’s Revenues be reduced????? This article […]
‘Report of The Joint Committee on Business Processes for GST’ has already been circulated and views have been sought from people at large for suggesting improvements thereupon. This report is divided into three parts namely GST Registration, GST payment process and GST refund process. In this article, some benefits of the proposed payment process under GST regime have been discussed alongwith some minor drawbacks of the proposal.
The government with the aim to implement the GST w.e.f. 1.4.2016 has issued a draft for persual of experts, trade associations, etc. to suggest the flaws and improvements thereupon. This draft is in form of ‘Report of The Joint Committee on Business Processes for GST’. This report is divided into three parts namely GST Registration, GST payment process and GST refund process. This article is an attempt to analyze the first part of this report namely ‘GST Registration’.
This document will give blue print on various return forms, mode of filing return and at last the processing of returns and corrections in filed return. As of now almost all the States and Central Govt. has prescribed online filing of returns along with relevant annexures. This article has been written to give clarity on likely procedures in filing e-return, various new features of e-returns under GST and also make comparison with existing returns under State and Central Acts.
Meaning of Works Contract in TN VAT: Sec 2(43) defines as Works Contract includes any agreement for carrying out for cash, deferred payment or other valuable consideration, building construction, manufacture, processing, fabrication, erection, installation, fitting out, improvement, modification, repair or commissioning of any movable or immovable property.
India is all set to introduce a tax reform—the goods and services tax (GST). Apart from creating a unified market across India, GST will help make India’s manufacturing competitive by cutting high logistics and warehousing costs. A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, through to its eventual delivery to the end user. The supply chain segment involved with getting the finished product from the manufacturer to the consumer is known as the distribution channel.
