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 : Explore simplified Input Service Distributor (ISD) provisions under GST, mandatory from April 2025, detailing credit distribution,...
Goods and Services Tax : Review 9 essential GST compliances before 31st March 2025, including LUT submission, composition scheme opting, e-invoicing, credi...
Goods and Services Tax : This Blog analyzes the consequences of GST on e-commerce businesses and the impacts of its tax policy, as well as compliance oblig...
Goods and Services Tax : Radhika Agarwal Judgment plays an important role for aligning and clarifying the procedures for arrest under the Customs and GST A...
Goods and Services Tax : Learn about India's GST Act, its structure, objectives, tax types, exemptions, compliance measures, and the role of the GST Counci...
CA, CS, CMA : Get the latest Income Tax and GST notifications, updates, and circulars from February 10 to 16, 2025, including ITR filing deadlin...
Goods and Services Tax : KSCAA highlights issues in GST registration, suggesting uniform SOPs, better verification, geocoding fixes, transparency, and supp...
Goods and Services Tax : Karnataka CA Association urges upgrades to the Professional Tax portal, addressing issues like OTP errors, payment glitches, and l...
Goods and Services Tax : West Bengal's GST share dropped from 4.6% in 2019-20 to 4% in 2024-25. Learn about factors affecting revenue, government measures,...
Goods and Services Tax : Government addresses GST exemption on health & life insurance premiums, forming a GoM for review. Key updates on current exemption...
Goods and Services Tax : Madras High Court quashes GST order against P. Rajasekaran, citing violation of natural justice. Petitioner granted relief on depo...
Goods and Services Tax : Orissa High Court denies pre-arrest bail to GST Officer accused of embezzling ₹71.03 lakhs, citing the seriousness of the econom...
Goods and Services Tax : Gujarat High Court sets aside a GST demand order for violating natural justice by denying a personal hearing, remanding the matter...
Goods and Services Tax : Kerala HC denies Neo Classic Cruise's plea against GST order, ruling classification disputes must be appealed under Section 107, n...
Goods and Services Tax : AP High Court quashes GST assessment order against Knight Hawk Security due to missing DIN, allowing fresh assessment with due not...
Goods and Services Tax : A Group of Ministers (GoM) is set up to evaluate the feasibility of a special cess under GST for disaster relief and recommend a u...
Goods and Services Tax : The GST Council reconstitutes the GoM on Revenue Analysis with new terms of reference to assess revenue trends, compliance, and po...
Goods and Services Tax : Rajasthan mandates virtual hearings for GST cases. Learn about the process, requirements, and compliance under the new guidelines ...
Goods and Services Tax : CBIC issues KYC compliance clarifications for couriers, reports on significant drug seizures, overvaluation cases, and announces p...
Goods and Services Tax : GSTN allows company directors to complete biometric authentication at any GST Suvidha Kendra in their home state. Read the latest ...
The scope of IGST Model is that Centre would levy IGST which would be CGST plus SGST on all inter-State transactions of taxable goods and services with appropriate provision for consignment or stock transfer of goods and services. The inter-State seller will pay IGST on value addition after adjusting available credit of IGST, CGST, and SGST on his purchases.
In the below PPT Authors have tried to give over all view of major clauses of Model GST Law, 2016 so that one can understand about GST Model law and its provisions. Read / Download PPT Download PPT on GST Model Law and GST Business Reports Read PPT
After getting the Draft Model Goods and Services Tax Law on public domain on June 14, 2016, GST has been creating a buzz amongst all stake holders, eagerly waiting for the monsoon session of the Parliament to commence with the hope that the much awaited Constitutional (122nd Amendment) Bill, 2014 on GST will be passed, which will pave the way for GST in the Country.
In this write up I tried to analyse:- 1. Scheme of Input Tax Credit under Model GST Law 2. About various returns under GST and 3. Matching concept of input tax credit in GST.
1. Periodicity of Returns a Monthly Return Every registered taxable person, other than composition taxpayer u/s 8 b Quarterly Return Every registered composition taxpayer u/s 8 2. Types of Returns / Statements a Within 10 days Monthly Return (Section 27) GSTR 7 Every registered taxable person deducting Tax b Within 10 days Details of outward […]
1. Basic Threshold Limt Every supplier shall be liable to be registered under this Act in the State from where he makes a taxable supply of goods and/or services if his aggregate turnover (All-India turnover) in a financial year exceeds (i) Rs. four lakh; if the taxable person conducts his business in any of the […]
1. Electronic Ledgers of actual Payments made and Input Tax Credit Every registered taxable person will have two types of electronic ledgers showing the amounts standing to the credit of such taxable person for discharge of tax liability, interest, penalties or any other sum payable under the Act and rules made thereunder. (i) Electronic cash […]
Quick understanding of Composition levy under section 8: Who is eligible: Registered Taxable person whose aggregate turnover as defined by section 2(6) of Draft Model GST Law, 2016 which includes both taxable and non-taxable supplies, exempt supplies and exports in a financial year does not exceed Rs. 50 Lakhs.
GST is one of the widely accepted indirect taxation system & prevalent in more than 150 countries across the globe. GST is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the producer’s point and service provider’s point up to the retailer’s level.
The new GST Bill clubs all intermediaries as ‘agents’ who carries on the business of supply or receipt of goods and/or services on behalf of another and clubs these entities together with commission agents, brokers, etc.
