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 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 : This article discusses GST compliance for service providers eligible for the QRMP scheme up to ₹5 crore turnover. It clarifies w...
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 Bombay High Court held that rejection of a manual GST appeal was unsustainable where DRC-07 was not available on the GST porta...
Goods and Services Tax : Gauhati High Court held that cancellation of GST registration without assigning reasons in FORM GST REG-19 was illegal and violate...
Excise Duty : CESTAT Delhi remanded the matter after finding that the Commissioner (Appeals) failed to consider the appellant’s affidavit and ...
Goods and Services Tax : Bombay High Court held that GST proceedings initiated against a company that had ceased to exist after amalgamation were void ab i...
Corporate Law : High Court directed authorities to examine claims relating to additional road work, carriage charges, GST differential, and deduct...
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...
Goods and Services Tax : The data highlights a sharp increase in GST collections driven by import-related IGST. It confirms strong revenue performance and ...
India has adopted a dual GST system because of federal nature of our constitution where both centre and states will have the power to levy taxes on the sale of goods and services. GST is similar to VAT and can be termed as National level VAT on goods, with one difference, in GST not only goods but services are also included and rate of tax on both goods as well as services will be the same.
Basically GST stands for Goods and Service Tax. The Goods and Service Tax (GST) is likely to be implemented Very soon and many are worried about the same as the many of the people are still confused and illiterate over GST. While writing this I think learning something new is easier than teaching someone something new, so we all should start learning about GST on our own than to wait for implementation of GST.
Brief Intro: Introduction of Goods and Services Tax (GST) will indeed be an important perfection and the next logical step towards a widespread indirect tax reforms in India. As per, First Discussion Paper released by the Empowered Committee of the State Finance Ministers on 10.11.2009, it has been made clear that there would be a “Dual GST” […]
With no consenus in sight and the Modi Government facing a number crunch in the Rajya Sabha, long-pending GST Constitutional Amendment Bill was on Tuesday, May 12, 2015 referred to a Select Panel after the opposition insisted on its legislative scrutiny.
The present structure of Indirect Taxes is very complex in India. There are so many types of taxes that are levied by the Central and State Governments on Goods & Services. How nice will it be if there is only one unified tax rate instead of all these taxes? Yes , that’s what our Government of India has proposed through GST!
As tax rates during Goods and Services Tax (GST) regime will be closely aligned to the Revenue Neutral Rates (RNR) of the Centre and the States, the revenues of the Central and State Governments will not be impacted in the long run. To help States in the transition phase, the Constitution (122nd Amendment) Bill, 2014, […]
The 122nd Constructional Amendment Bill seeks to introduce the Goods and Service Tax (GST Bill) was tabled in the Lok Sabha on 19th December 2014. Touting it as the single biggest tax reform since independence, Finance Minister Arun Jaitley (FM) while introducing the Bill had said that the GST law will subsume all indirect levies from April, 2016 and would ensure seamless flow of goods and service across the country.
Part I – Introduction to GST– Indian is proposing to introduce GST from 1 April 2016 and thus its relevant for all of us to understand this biggest indirect tax reform. In this video, CA Pritam Mahure discusses about the new proposed GST regime in India.
The Constitution (122 Amendment) Bill in respect of GST to be taken up in Lok Sabha next week Finance Bill to be taken up on Thursday Further to the suggestions from the Members of Lok Sabha, the Government has agreed to extend the ongoing discussion on Demands for Grants of various ministries by one day […]
THE CONSTITUTION (ONE HUNDRED AND TWENTY-SECOND AMENDMENT) BILL, 2014 THE MINISTER OF FINANCE, MINISTER OF CORPORATE AFFAIRS AND MINISTER OF INFORMATION AND BROADCASTING (SHRI ARUN JAITLEY) moving the motion for consideration of the Bill said: In the matter of revenue and taxation, probably this is the most important Amendment that has ever been taken up […]
