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 guide explains that GST registration certificates are available only through the GST Portal and must be downloaded manually. I...
Goods and Services Tax : From 22 September 2025, accommodation below ₹7,500 per day attracts 5% GST without ITC instead of 12%. The change aims to reduce...
Fema / RBI : The article explains RBI’s decision to reduce the export proceeds realization period from 15 months to 9 months and its impact o...
Goods and Services Tax : This guide explains the fundamentals of GST, including CGST, SGST, IGST, and UTGST. It also highlights how these classifications i...
CA, CS, CMA : GST disputes are increasing, creating substantial opportunities for Chartered Accountants in audits, adjudication, appeals, and ta...
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 : GSTAT accepted the DGAP finding that the ratio of credit availed to purchase value declined after GST implementation. Since no add...
Goods and Services Tax : GSTAT held that the retailer failed to pass on the benefit of GST reduction from 28% to 18% through commensurate price cuts. The T...
Goods and Services Tax : The Orissa High Court considered a request for amendment of GST registration where business was conducted from a different locatio...
Corporate Law : The Court held that a purchasing dealer can rely on a sellers valid registration at the time of purchase. ITC cannot be denied mer...
Goods and Services Tax : The Bombay High Court held that the CGST Act does not permit consolidation of different financial years and tax periods in a singl...
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...
On GST, stated position:-After careful consideration of the issues raised by the Empowered Committee of State Finance Ministers, we have revised our position to accommodate the concerns of the State Governments. The Central Government is willing to consider a phased approach for the introduction of GST. In a departure from its earlier stand, the Central Government is also willing to accept a dual rate structure in the transitory phase leading eventually to a “model GST”.
The state governments have urged the Centre to continue levying central sales tax (CST) for the first few years as it will provide some comfort in terms of protecting revenue and fiscal autonomy. This demand came after the union government proposed a three-rate structure for the goods and services tax(GST) last week.
Finance minister Pranab Mukherjee today assured the states that the Centre will fully compensate them on possible losses arising from implementation of the goods and services tax (GST) regime. “No state would be allowed to suffer any loss and would be fully compensated by the Central government,” he said at a meeting of the National Development Council here today, attended by most of the state chief ministers.
* Exemption threshold for both goods and services under Central Goods and Service Tax (“CGST”) and State Goods and Service Tax (“SGST”) to be INR 10 lakh. Threshold for small dealers under both CGST and SGST to be INR 50 lakh or INR 1 crore.
The country’s supreme audit body has questioned the preparedness of states to roll out the goods and services tax (GST), amid hectic parleys to build a consensus on the implementation of this crucial indirect tax reform from the next fiscal year.
FM Wants New Tax Regime Which is Simple and Broad Based Leading to Lowering of Tax Rates, Better Tax Compliance and Reduced Litigation: Looking forward to Constructive Suggestions from Empowered Committee of State FMS on GST to set-up an Innovative & Cooperative Fiscal Federalism
Finance Minister Pranab Mukherjee today proposed a three-rate structure for the Goods and Services Tax -which will simplify the indirect tax regime – under which goods will attract 20 per cent levy, services 16 per cent and essential items a concessional 12 per cent. Mukherjee proposed these rates to the state finance ministers at a meeting here today to evolve consensus over GST that is planned to be implemented from April 1, next year.
The government on Tuesday said the direct taxes code (DTC) Bill and a constitutional amendment bill to implement the goods and services tax (GST ) are likely to be introduced in the Monsoon session beginning next week. “It is our expectation that both the constitutional amendment bill and DTC Bill would be introduced in the Monsoon session,” revenue secretary Sunil Mitra told reporters on the sidelines of a CII seminar in New Delhi today.
To begin with, next year, he suggested, the Centre will adopt a three-rate formula. While Mukherjee proposed that the rate of taxation for services be fixed at 8 per cent, a dual-rate regime for goods was recommended at the meeting of the empowered committee of state finance ministers. The Centre plans to keep a lower rate of 6 per cent for certain goods and maintain a standard rate of 10 per cent in the first year.
Fearing that their fiscal autonomy will be impacted by the uniform tax structure, state finance ministers are likely to bargain for some flexibility on proposed Goods and Services Tax when they meet Union Finance Minister Pranab Mukherjee on July 21.
