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 : Bombay HC ruled that GST refund deficiencies must be communicated via Form GST RFD-03. Failure to issue it led to the refund appli...
Goods and Services Tax : The Telangana High Court took a firm stance—unsigned GST notices and orders, even if uploaded on the GST portal, hold no legal v...
Goods and Services Tax : Ensure GST compliance for FY 2024-25 by March 2025. Key tasks include LUT submission, ITC reconciliation, e-invoicing, QRMP select...
CA, CS, CMA : From April 1, 2025, businesses with multiple GST registrations must obtain ISD registration to distribute Input Tax Credit (ITC) a...
Goods and Services Tax : Revenue Officers को arrest और investigation की सीमित शक्तियाँ प्राप्त है...
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 : CGST Act does not disentitle or render assessee ineligible to apply for GST registration afresh After Cancellation: Delhi HC in Sa...
Goods and Services Tax : Allahabad High Court rules in favor of Zhuzoor Infratech, quashing GST penalty due to a technical e-way bill error, citing precede...
Goods and Services Tax : No goods had been sold, and forged bills were prepared. Furthermore, no vehicles had passed through toll plazas, and no registrati...
Goods and Services Tax : This is because the granite blocks, which had been exported by the petitioner, were zero rated goods and consequently, the relevan...
Goods and Services Tax : GST AAAR Tamil Nadu dismisses Tamilnadu Medical Council's appeal citing pending investigations under Section 98(2) of the CGST Act...
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 ...
Goods and Services Tax : Key updates on Indian Customs, including trade facilitation, GST awareness, sports events, and major enforcement actions on tax ev...
Goods and Services Tax : GST registration in Jharkhand & Andaman now requires biometric Aadhaar authentication and document verification at GST Suvidha Ken...
Goods and Services Tax : CBIC unveils trade facilitation measures, combats counterfeit currency, and detects ₹80 crore GST fraud. Key developments from I...
Value Added Tax made in first opening in France in 1954. At that time it was not a full VAT system, since it was restricted to manufacturers and whole-sellers. The retailers and agriculturist were kept beyond its purview.
At present there are 17 items in the negative list (Section 66 D of the Finance Act, 1994) and 39 items in the mega exemption notification 25/2012-ST dated 20.6.2012. Government has recently exempted more services from the purview of service tax.
The Union Finance Minister, Shri P. Chidambaram said that the goods and services tax (GST) is a more effective and efficient substitute for plethora of indirect taxes. The Finance Minister said that he is hopeful that the GST Bill would be passed before the end of the current financial year.
Meaning:- The Goods and Services Tax (GST) is a comprehensive value added tax (VAT) on the supply of goods or services. France was the first country to introduce this value added tax system in 1954 devised by a public servant. In India, due to non consensus between central and state government, the proposal is to […]
The Group has the following terms of reference: To examine the feasibility and develop a draft Common Code for Central Excise and Service Tax that can be implemented under the present Constitutional scheme, keeping however, in view the challenges in the context of the impending goods and Services Tax (GST);
Delhi Value Added Tax – Notification for change in tax period wef F.Y. 2012-13. No more half yearly/yearly returns, compulsory on line 2A/2B
The Study Team will examine the feasibility and also suggest a draft Common Tax Code for service tax and central excise that can be implemented under the present Constitutional scheme, keeping in view the challenges in the context of impending Goods and Service Tax (GST). The Study Team has also been directed to address issues relating to input tax credits with a view to simplify the existing scheme and to mitigate cascading to the extent possible, and to harmonize existing procedures and processes to make them more trade-friendly. The Study Team may also suggest any other measure that will help in reducing the cost of compliance for business or transition towards a comprehensive GST.
Rajasthan government has changed the rates of exemption fees relating to works contracts of various nature w.e.f. 01st April, 2012. This will have high implication on applications for exemption fees for works contracts made after 1st April, 2012. Following is an analysis of the same.
Transfer of Right to use goods for cash, deferred payment or valuable consideration is considered as deemed sales under sub-clause (d) of Article 366(29A) of Constitution of India and also consequently under Punjab VAT Act and CST Act liable to VAT and CST respectively. Right to use of tangible goods service has also been brought under service tax net by the Finance Act, 2008, w.e.f 16-05-2008 vide notification No. 18/2008-ST, dated 10-05-2008.whereby taxable service has been defined u/s 65(105)(zzzzj) of Finance Act, 1994 to mean as
The Cabinet has approved a proposal to set up a Special Purpose Vehicle (SPV) namely Goods and Services Tax Network SPV (GSTN SPV) to create enabling environment for smooth introduction of Goods and Services Tax (GST). GSTN SPV will provide IT infrastructure and services to various stakeholders including the Centre and the States.
