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 : This article explains the composition levy scheme under Section 10 of the CGST Act, including eligibility, tax rates, compliance o...
Goods and Services Tax : The article explains how GST composition scheme, exemption rules, and time of supply provisions work in practice. It highlights co...
Goods and Services Tax : The GST Invoice Management System (IMS) promises stronger ITC reconciliation, fraud prevention, and invoice-level transparency. Ho...
CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
Goods and Services Tax : The article examines how denying ITC to genuine buyers due to supplier tax default creates constitutional and commercial concerns ...
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 representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims exceeding ₹8 crore without actual supply of goods. The ruling highlights that ITC is...
Goods and Services Tax : The Calcutta High Court set aside cancellation of GST registration for non-filing of returns, observing that preventing business o...
Goods and Services Tax : Punjab and Haryana High Court granted regular bail to an accused linked to alleged fake GST billing and forged documents. The Cour...
Goods and Services Tax : Gujarat High Court upheld confiscation proceedings under Section 130 after noting that goods were transported without an e-way bil...
Goods and Services Tax : The Andhra Pradesh High Court held that GST recovery proceedings under Section 79 can be initiated against a bank after an assessm...
Goods and Services Tax : The Allahabad High Court considered a challenge to amended CGST provisions restricting ITC despite valid invoices and payment of t...
Goods and Services Tax : GSTN has launched a standardized Annexure-B Offline Utility for refund applications involving accumulated ITC to enable automated ...
Goods and Services Tax : The GST Appellate Tribunal issued a detailed order constituting benches across India and classifying GST disputes into three categ...
Goods and Services Tax : The Principal Bench of GSTAT instructed scrutiny officers not to raise defects where appellants upload required soft copy document...
Goods and Services Tax : The Central Government amended Notification No. 14/2018-UT Tax by replacing officials listed against Serial No. 2. The notificatio...
Goods and Services Tax : The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. Th...
(a) whether certain auto industry stakeholders have expressed concern over lack of clarity on GST and the time for its implementation, if so, the details thereof; (b) whether the auto industry felt that tax differentiation in auto industry is huge when compared to other major markets, if so, the details thereof;
Government is looking firm determined to implement GST by 1st April 2017. Here, we are providing decoding and analysis of meaning and scope of supply.
(a) whether the Government proposed Goods and Services Tax (GST) rate with four slab structure, if so, the details thereof; (b) whether the Government has assessed implications of having different GST rates for various items, item-wise; and (c) if so, the details thereof and the outcome thereon?
As per draft law (revised draft),input tax credit to receiver shall be available only when the supplier has paid the tax on supplies made to receiver and the same get matched (i.e. matching of output supplies with input supplies declared by supplier and buyer respectively).Once the credit get matched it will reflect in electronic credit ledger of buyer
There are 33 Sections [ Earlier 22 Sections ]under transitional provision of Revised GST Law when all major indirect tax Act’s going to subsumed under the GST Law.
Your feedback / concerns and suggestions received on Model GST Law were communicated and as can be seen many amendments are due to the suggestions made by us.
Whilst the Government is keen to make Goods and Services Tax (GST) a reality by envisaged April 1, 2017 deadline, efforts put in by the Government to look into the voluminous suggestions submitted by various stakeholders, on First cut Model GST Law (put on public domain on June 14, 2016), is indeed commendable.
The Book, ‘A Complete Guide to Goods and Services Tax – Ready Reckoner in Q & A Format’ is perhaps the only book available containing over 1400 Frequently Asked Questions (FAQs) on proposed Goods and Services Tax (GST) which explains entire concept of GST with 3600 approach to the new taxation regime.
If Input received in a factory & removed as such or after being partially processed to Job worker for further processing, repair, testing etc prior to appointed day (i.e. 31.03.2017): No tax shall be payable if such input returned to said factory within 6 months from the appointed day (i.e. Up to 30.09.2017)
Taking into consideration majority of the concerns raised by the Trade and Industry, the Government has, on November 26, 2016, released the Revised version of the Model GST Law along with Draft GST Compensation Bill.
