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 Finance (No 2) Act 2024 been notified on 16th August 2024. The Finance Act sections 114 to 157 Page 114 to 157 (Page 67 to 6...
Goods and Services Tax : Overview of GST tax liability, self-assessment, and the distinction between scrutiny under Section 61 and actions under Sections 7...
Goods and Services Tax : Karnataka HC ruled that under Section 75(4) of CGST Act, a hearing opportunity must be granted before passing an adverse order. Ba...
Goods and Services Tax : Understand GST provisions for invoices and credit notes in the sale of under-construction flats/shops, including time limits, e-in...
Goods and Services Tax : In the recent times, GST Department by exercising the powers bestowed on them by way of Section 65 of the CGST Act 2017, has been ...
Goods and Services Tax : Join our webinars on GST Tribunals preparation. Learn to grow your IDT practice and prepare for GSTAT with expert guidance. Regist...
Goods and Services Tax : A Superintendent in Nadiad is sentenced to 5 years for bribery. CBI also investigates two GST officers in Hyderabad for demanding ...
Income Tax : Explore the latest updates on tax benefits for skill development institutions in India, including GST exemptions and income tax re...
Goods and Services Tax : Explore the latest details on GST rates for agricultural equipment, machinery, and fertilizers, and the government's stance on pot...
Income Tax : On August 5, 2024, it was clarified in the Lok Sabha that there are no specific tax incentives or waivers currently in place for t...
Goods and Services Tax : The Calcutta High Court orders restoration of GST registration for Abdul Nayim Chowdhury after compliance with tax conditions. ...
Goods and Services Tax : Calcutta HC rules extended period under CGST Act requires clear allegations of willful misstatements. Writ petition dismissed; sta...
Goods and Services Tax : Calcutta HC orders fresh adjudication in Swadhin Bose vs. CGST case due to improper consideration of the appellant’s response an...
Goods and Services Tax : Calcutta High Court overturns GST registration cancellation for non-filing of returns, setting conditions for restoration....
Goods and Services Tax : Sri Avantika Contractors (I) Limited. Vs Appellate Authority for Advance Ruling (GST) and others. (Telangana High Court) Telangana...
Goods and Services Tax : Maharashtra GST Circular No. 21T of 2024 updates guidelines for recovering outstanding dues after first appeal until the Appellate...
Goods and Services Tax : Instruction No. 03/2024-GST outlines procedures for CGST audits, emphasizing uniformity and reducing litigation through adherence ...
Goods and Services Tax : Kerala SGST department issues a circular clarifying the method of penalty calculation under the IGST Act, 2017 for tax demands mad...
Goods and Services Tax : CBIC's latest updates include a Customs cooperation deal with New Zealand, a new Hindi magazine, and significant seizures of smugg...
Goods and Services Tax : CBIC issues guidelines for a second All-India drive to detect and eliminate fake GST registrations, safeguarding government revenu...
HC held that condition precedent for exercise of power under Rule 86A of the GST Rules is the availability of credit in the electronic credit ledger which is alleged to be ineligible. If credit balance is available, then the authority may, for reasons to be recorded in writing, not allow the debit of amount equivalent to such credit. However, there is no power of negative block for credit to be availed in future.
To eliminate the cascading effect, the government had introduced GST. but After the introduction of GST, one of the most convoluted issues was ‘Tax implication on sale of used or second-hand goods’. Because these second-hand goods have already borne the incidence of tax. To avoid double taxation on the supply of goods that have already been taxed, the government introduced the marginal scheme.
In this knowledge series we shall cover Complete GST Laws with more practical oriented approach, covering live examples and case laws in these 15 days session. The Content wise schedule is mentioned below for reference- Live Session Detail for GST Knowledge Series Day Date Time Topic Description Day 1 08/02/2022 6:30 PM – 7:30 […]
Article explains changes vide Union Budget 2022 related to Changes in Input Tax Credit, Additional Condition of taking Input Tax Credit, Auto generated statement – Input tax, Extension of Due date for availing ITC, Availment of input tax credit, Restriction on credit usage, Cancellation of GST Registration, Extension of last date for issuance of credit […]
Key proposed amendments to CGST Act, 2017, which would be effective from the date to be notified, upon enactment of Finance Bill, 2022, unless otherwise specified Customs & SEZ Key Update 1. Inclusion of officers under DRI, audit and preventive formation as the “proper officer” under Customs law, retrospectively. Once the proposed amendment comes into […]
Amendments proposed in the CGST Act, 2017 To be effective from the date of enactment of Finance Bill, 2022 ♦ Amendment in Section 50 Sub-section (3) of section 50 of the CGST Act is proposed to be substituted retrospectively, with effect from the 01.07.2017, so as to provide for levy of interest on input tax […]
CA Palash Sharma Article explains Changes in GST Proposed by Union Budget 2022 related to Section 16: Input Tax Credit, Section 29: Cancellation or suspension of registration, Section 34: Credit and debit notes, Section 37: Furnishing details of outward supplies, Section 38: Furnishing the details of Inwards supplies, Section 39: Furnishing of Returns, Section 41: […]
Can payment of pre-deposit for filing of an appeal be made through Electronic Credit Ledger – After amendment proposed in Finance Bill 2022. In this regard I would like to first make a reference to the relevant provisions of the CGST Act, 2017 and CGST Rules, 2017: Section 2(82) of the CGST Act, 2017: “Output […]
Changes in GST proposed in The Finance Bill, 2022 Summary of the Union Budget 2022 proposals for GST – The Union Finance Minister while presenting the Union Budget 2022 on 1st of February 2022, made few important changes in the GST Laws. Below is the summary of such proposals – 1. Tightening of the Input […]
GST has been a landmark reform of Independent India showcasing the spirit of Cooperative Federalism. While aspirations were high, there were huge challenges too. These challenges were overcome deftly and painstakingly under the guidance and oversight of the GST Council. The right balance between facilitation and enforcement has engendered significantly better compliance. GST revenues are […]
