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 : 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 : Kerala High Court ruled that authorities must determine both whether the payment amounts to a supply under Section 7(1) and whethe...
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...
CMA Ramesh Krishnan Major indirect tax reformation is in full swing and it is going to gear up from 1st April 2017, till now empowered committee proposals and draft rules and formats and several frequently asked questions has been published by the government to help us to transformation process from the current indirect tax system […]
In the Following Situations, Refund can be claimed in GST: 1. Export of Goods or Services ( Including Deemed Export) 2. Refund of Unutilized Input Tax Credit 3. Refund from Manufacturing / Generation/ Production – tax free supplies
As per the GST law, the supply will determine the levy of tax. The definition of supply is most important in the law of GST. Also, there has been a debate on the levy of tax on goods and services. Currently, VAT is levied on goods and Service Tax is levied on services. But many goods and services are inseparable, and then there is a debate about who will levy tax and also there are litigations on this.
Works contract has been a mystery for almost half a century and yet it fancies every avid leaner of Indirect tax. It is a composite contract involving both transfer of property and provision of labour. We shall examine the implications of Goods and Services Tax Law (GST law) on Works contract in this paper.
Mr. Subodh, a businessman dealing in manufacturing of plastic bottles, was sitting in his chamber, his head bowed low over a booklet called ‘FAQ on Goods and Service Tax’ and looking thoroughly disappointed and twirling his moustache impatiently. The more he read, the more confused he seemed to get. Unable to take it anymore, he […]
Meaning and Relevance: Time of supply of goods determines time, when the tax (GST) will be levied. GST is levied on supply (i.e. for ex: when the goods are sold, transferred to branch, etc). Now, let us take example of sale of goods. In a sale transaction various events are involved i.e. invoice issuance, payment […]
Goods and Services tax (popularly known as GST) would soon be the new system of indirect taxation in India that will subsume all the other indirect taxes that has been levied and collected in India so far. From the viewpoint of a taxpayer, registration under GST would be the key factor. The aim of this […]
Presently we pay Excise Duty on goods produced and removed from factory. So the liability arise at the time of removal. Service Tax is charged on rendering services at the time of Receipt of Payment, raising of Invoice / Completion of Services, whichever is earliest. VAT & CST on sale of goods, transfer of property.
This article will provide you information with respect to following questions for transitional CENVAT credit under GST 1) Who may transfer CENVAT credit under GST? 2) How CENVAT Credit shall be transferred under GST? 3) What are the eligible Duties and Taxes for transferring under GST?
Every supplier shall be liable to be registered under GST in the State from where he makes a taxable supply of goods and/or services if his aggregate turnover in a financial year exceeds Rs 9 lakhs. However, if supplier is engaged in business from North Eastern States including Sikkim then this threshold will be Rs. 4 lakhs.
