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 : The article argues that Rule 14A creates a compliance trap by restricting taxpayers from reporting actual liabilities after crossi...
Goods and Services Tax : The article examines how NGTP classifications are increasingly being used as standalone grounds for ITC blockage and fraud proceed...
Goods and Services Tax : Missing GST return deadlines triggers late fees under Section 47 and interest under Section 50, both calculated separately. Unders...
Goods and Services Tax : The Court reaffirmed that taxpayers are entitled to due process before coercive recovery measures are initiated. Recovery actions ...
Goods and Services Tax : The guide explains that GST registration certificates are available only through the GST Portal and must be downloaded manually. I...
Goods and Services Tax : Haryana recorded the highest State GST growth rate in India at 22% in May 2026. The achievement is attributed to strong tax admini...
Goods and Services Tax : Practitioners are reportedly following different methods while completing GSTAT appeal forms because of inadequate guidance. The r...
Goods and Services Tax : The certificate clarifies that dealing and investment in securities are outside the scope of GST. Companies engaged solely in secu...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims based on fake invoices without actual supply of goods or services. The accused was arr...
Goods and Services Tax : The Rajasthan High Court held that a taxpayer who defaults in filing GST returns in one State cannot obtain fresh registration in ...
Goods and Services Tax : The Telangana High Court granted interim protection against coercive GST recovery proceedings until the GST Appellate Tribunal bec...
Goods and Services Tax : The Telangana High Court permitted the taxpayer to withdraw the writ petition challenging a GST demand order and pursue the statut...
Goods and Services Tax : The Telangana High Court permitted manual filing of a revocation application even after dismissal of a delayed appeal against GST ...
Goods and Services Tax : The Gauhati High Court directed authorities to consider restoration of GST registration after the taxpayer filed pending returns a...
Goods and Services Tax : GSTN has postponed the implementation of mandatory "Ship To GSTIN" capture and voluntary E-Way Bill closure to 1 August 2026. The ...
Corporate Law : The 2026 amendments significantly expand disclosure requirements for operational creditors and corporate applicants. The changes a...
Goods and Services Tax : Gross GST collections reached ₹1.94 lakh crore in May 2026, registering 3.2% growth. The increase was driven largely by a 19.1% ...
Goods and Services Tax : The West Bengal GST Department ruled that intra-State movement of goods related to job work remains exempt from e-way bill generat...
Goods and Services Tax : GSTN has announced mandatory capture of Ship-To GSTIN in Bill-To/Ship-To transactions under the EWB system. The change aims to imp...
Need of transitional provisions in GST – Transition provisions take effect during the period between the movements of existing taxation i.e. Central Excise, Service Tax, and Vat and luxury tax etc. and Goods and Services tax. Such provisions are required for the smooth and successfully implementation of GST.
Section 9(4) shall force every service provider who is providing services to business entity to get itself registered even if their turnover do not exceeds Rs. 20 Lakhs. Chartered Accountant, company secretaries and cost accountant will need immediate registration under GST on the first day of start of practice. Even supplier of goods shall come under this section purview.
It may be noted that the GST Act has, instead of providing a mechanism for valuation of land involved in the composite works contract and to reduce the same from the gross consideration, specified reduced tax rate of 12%. It implies that the legislature has assumed the value of land as 33% of the total consideration.
The GST Act will come into force from 1st July 2017. A large number of Tax Payers were not required to take registration as per provisions of VAT Act. Now as per the provisions of GST Act, most of the Tax Payers will be required to take registration under GST Act.
Further, if you become liable to pay tax and apply for same within 30 days then you can take input credit on stock held in trade on the day immediately preceding the day of liable to registration.
This concept is called Reverse Charge. Previously it had a very little scope in Service Tax but in GST it has very wider scope and if a registered person deals with unregistered supplier then the registered person has to raise the invoice and pay the tax on it.
The first aspect to migrate to GST is to take provisional registration currently. This can be done directly by applying for provisional registration through your existing TIN number. There will be one Provisional ID issued for one PAN based registration for each state.
Are you worried about what will happen to the input tax credit [ITC] on your inputs [held as input/ semi-finished goods/ finished goods/capital goods upon transition to GST?
In order to address such concerns, the GST law has been endowed with provisions to constitute a National Anti-Profiteering Authority (NAPA). The authority has the mandate to ensure that the consumers, along with the business houses share the benefits of lower prices.
It provides that every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds twenty lakh rupees.
