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 : 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...
Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...
Goods and Services Tax : GST rate on old and used vehicles, including EVs, increased from 12% to 18% effective 16 Jan 2025. Applicable on margin value for ...
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 : Andhra Pradesh High Court invalidates GST assessment order due to lack of an official signature and DIN, citing Supreme Court and ...
Goods and Services Tax : Gujarat High Court rules in favor of Gujarat State Police Housing Corp, allowing a GST refund despite exceeding the two-year statu...
Goods and Services Tax : Tamil Nadu AAR rules that ITC on motor vehicles used for automobile benchmarking services is not available under GST law. Read key...
Goods and Services Tax : Tamil Nadu AAR rules that free silver supplied by Naval formations must be included in taxable value for GST on batteries. Read ke...
Goods and Services Tax : Tamil Nadu AAR rules on GST classification of slack adjusters used in buses, trucks, and trailers. Distinct tax rates of 28% and 1...
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 : Kerala SGST Circular 5/2025 clarifies adjudication of Kerala Flood Cess under SGST/CGST Acts, detailing procedures for notices, ad...
Goods and Services Tax : Kerala SGST outlines guidelines under Section 161 for rectifying apparent errors in orders, notices, and decisions, ensuring unifo...
It is official now. The country may miss the April 1, 2011 deadline for adopting a dual goods and services tax (GST) system. The Finance Minister, Mr Pranab Mukherjee, has now conceded that it may not be possible to introduce GST from April 1 next year. The main bottleneck in achieving this major tax reform is the absence of consensus between the Centre and the States on the required Constitutional Amendment for introduction of GST.
The government is likely to appoint State Bank of India as the clearing bank for the proposed Goods and Services Tax (GST) and National Securities and Depositories Ltd (NSDL) as the clearing corporation for implementing the infrastructure required for inter-state tax administration.
The much awaited new indirect tax regime Goods and Service Tax (GST) is unlikely to be implemented from the scheduled date of April 1, 2011, a top government official said on Tuesday. “In all probability it (the introduction of GST) will miss the deadline,” Revenue Secretary Sunil Mitra said.
The much awaited Direct Taxes Code Bill is likely to be introduced in the ongoing monsoon session of Parliament itself, the Revenue Secretary, Mr Sunil Mitra, has indicated. “We do expect the DTC to be introduced in Parliament in this session. This is what the Finance Minister has promised in public forum and we intend to do our best to make it happen,” Mr Mitra told reporters on the sidelines of a CII event here.
Goods and Service tax (GST) is the most talked about topic in the field of indirect taxation today in India. Everybody is keenly waiting for the proposed GST draft which will replace the existing system of VAT in India. The central government wants the GST to be implemented in India by 1st April, 2011. Although there are and will be been many hurdles which are to be crossed before GST is implemented in India.
“Too many cooks spoil the broth” perhaps this would have been in the thoughts of Group on Implementation of GST while analyzing the organizational structure for GST. This group is a committee constituted by the Government that has been framed to analyze all the aspects which will be affected by implementation of GST. On 12.07.2010, the Group has given their report. In this article, we are discussing the administrative changes proposed by the Group under GST regime.
A few months ago, Gujarat Chief Minister Narendra Modi walked up to Finance Minister Pranab Mukherjee and said: “Gujarat is awaiting the Goods and Services Tax (GST) eagerly.” On Tuesday, at a meeting of state finance ministers where it was decided that a decision on GST would be deferred by a month, possibly leading to an indefinite postponement in its rollout, BJP-ruled Gujarat was at the forefront in opposing the tax in its present form.
The Finance Minister, Mr Pranab Mukherjee, has told the State Finance Ministers that they are free to fix their own State GST rates, but hopes that they would not exercise this freedom after a consensus is reached in the GST Council. He, thus, has conceded a major demand of the States that the Union Finance Minister should not have the last word on the State GST rates.
The Centre and states were yet again unable to stitch a deal on the constitutional amendments, clouding prospects for rollout of India’s most ambitious indirect taxes reform — goods and services tax — next year. The Union finance minister Pranab Mukherjee, however, promised another draft to address concern raised by the states ruled by leading opposition party BJP and Tamil Nadu where Congress’ key ally DMK is in power.
The Union Finance Minister Shri Pranab Mukherjee had a meeting with the Empowered Committee of State Finance Ministers to finalize the draft Constitutional Amendments on Goods and Services Tax, here today. Addressing the meeting, the Finance Minister emphasized that the primacy of the Legislature in the area of taxation is supreme and inalienable and that the proposed draft on GST did not seek to disturb or alter this in any manner.
