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 : Reverse Charge Mechanism (RCM) in GST is a system where the recipient of goods or services is liable to pay the tax instead of th...
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 : 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 : Calcutta HC condones delay in GST appeal filing, restoring the case for a small businessman who missed the deadline due to GST por...
Income Tax : Calcutta HC directs reassessment after invalidating CGST assessment order due to lack of opportunity for hearing....
Goods and Services Tax : Calcutta HC orders the restoration of GST registration for Intek Survey Engineering upon payment of due taxes and filing returns. ...
Goods and Services Tax : Patna HC dismisses Bharti Enterprises' petition against GST registration cancellation due to delay and failure to avail amnesty sc...
Goods and Services Tax : Patna High Court rejects a petition challenging GST registration cancellation, citing failure to use available appeal and amnesty ...
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...
Availment, utilisation and refund eligibility of ITC on capital goods on rendering of zero-rated supplies by taxpayers registered as Regular or EOU/STPI/SEZ/HTP etc.: Brief background: Goods and Services Tax law provides specific mechanism to claim refund of tax paid on zero-rated supplies or refund of unutilized input tax credit ‘ITC’ on zero-rated supplies without payment […]
What are NFT’S? Before we delve into the definition let us first understand the meaning of the term Non-Fungible. What does it exactly mean? In simple terms the term non-fungible means non replaceable. Let me explain this with an example. For instance, the book Harry Potter and the Prisoner of Azkaban by J.K. Rowling must […]
The GST journey began in the year 2000 when a committee was set up to draft law that will be known as Goods and Services Tax and it will subsume almost all indirect taxes and it will become One tax for One Nation however it has taken around 17 years from then for the Law […]
HC held that once the assessee is cooperating and has submitted the relevant documents to the Revenue Department then the bank accounts and Electronic Credit Ledger (ECL) of such assessee to be unblocked upon the expiry of one year from the date of imposing such restrictions.
Satindra Kumar Yadav Vs State of Odisha (Orissa High Court) In the instant case, the petitioner was arrested on 02.09.2021 for offences under Section 132(1)(b),(c)&(l) of OGST Act, 2017 having availed fake ITC by a firm M/s. S.S. Syndicate during the period under consideration. As is made to understand, the petitioner being the proprietor of […]
Vikas Elastochem Agencies Private Limited Vs Deputy Commissioner Central Excise & GST (Madras High Court) No doubt, the petitioner was required to file GST Tran 1 with correct information. However, the Courts have taken note of the fact that there were difficulties in making proper declarations in Tran 1 at the initial phase of implementation […]
Facility for auto-computation of Interest for GSTR 3B: 1. Introduction – As a facilitation measure for taxpayers and for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B. This functionality shall assist the taxpayers to arrive at the system computed interest on the basis of […]
As regards, GST, the Jaipur unit of DGGI achieved a major breakthrough in a case of fake billing/ITC under investigation since October,. 2021. They succeeded in unearthing an entire network of 636 fake firms issuing fake invoices for availment of ITC – run by a syndicate of 5-6 persons using multiple SIMS and phone numbers.
In re Harish Chand Modi (GST AAAR Rajasthan) Reimbursement of electricity expenses had not been made on actual basis by the lessee to lessor as it has been collected in advance with rent and further adjusted by raising the invoice by the lessor. Further, the appellant has failed to establish themselves as pure agent. Reimbursement […]
In re Hylasco Bio-technology Private Limited (GST AAR Telangana) 1. Whether the product Rodent Feed can be classified under the HSN 2309 90 10 or not? Yes. But not covered under the exemption notification. 2. If No, HSN applicable for the specified product? Please refer above. 3. As HSN 2309 is exempt under the Serial […]
