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...
The latest exercise has been completed and the updated tariff is now available on the departmental website. You may like to go through the same. The transposition exercise by Tariff Unit and the publication of the tariff reflecting the HS amendments are a major achievement. Kudos to the Customs Wing and to all officers associated with this mammoth task.
The Government vide Notification No. 14/2021-Central Tax) & Notification No. 15/2021-Central Tax dated 18th November 2021 has made some major amendments that will come into force from 1st January 2022. The following are the 10 important changes that has come into effect from 1st Jan 2022 Compliance Related 1 – GST ITC available to Recipient only when […]
In SCA No.53 of 2020 judgement pronounced on 16.10.2020, passed by Division Bench of Madras High Court, regarding transition of Education Cess, Secondary and Higher Secondary Education Cess and Krishi Kalyan Cess. The Hon’ble Court in its 135 pages of judgement held that “the Assessee was not entitled to carry forward and set off of […]
Arjuna (Fictional Character): Krishna, what are the changes notified by government in filing GSTR-1 and GSTR-3B from 1st January 2022? Krishna (Fictional Character): Arjuna, Earlier taxpayers (Supplier) were not able to file GSTR-1 or use the IFF on the GST portal if they had pending GSTR-3B filings for the past two months (monthly filer) or […]
Article compiles GST Rate on works contract services w.e.f 1st January 2022 mentioning Chapter, Section or Heading, Description of Services, GST Rate before 01st January 2022 and GST Rate with effect from 1st January 2022 GST Rate Chart in respect of works contract services w.e.f 01.01.2021 Sl. No. Chapter, Section or Heading Description of Services Old […]
It is evident that an applicant can seek an Advance Ruling only in relation to supply of goods or services or both undertaken or proposed to be undertaken by them. Accordingly, the question on tax liability under reverse charge mechanism is not liable for admission before the authority of advance ruling.
The invoices are called as fake where the GST invoices are raised by an entity without actual supply of goods or services or payment of GST. Fake invoices are raised for the following purposes: I. Claiming undue excess ITC. II. For showing excess Turnover. III. Transferring credit from one registration to another without any actual supply.
GSTR Due Dates in January 2022 1 . 10th January 2022 – GSTR – 7 (TDS) for the month of December 2021. 2. 10th January 2022 – GSTR – 8 (TCS) for the month of December 2021. 3. 11th January 2022 – GSTR – 1 Whose Turnover is more than Rs 5 Crore or have […]
Gross neglect of Footwear Sector by Finmin/GST council- Fallout of NN 21/2021 CT(Rate) How can it be forgotten that one upon a time, Footwear ruled India, literally!! When Lord Ram refused to return at the behest of Shri Bharat, his footwear were taken to Ayodhya and were enthroned as a Ruler, until Lord Rama returned […]
CGST 10th Amendment Rules, 2021 Introduction CGST rules have been amended for the 10th time in 2021 vide Notification No. 40/2021 CT dated 29.12.2021. List of Rules Amended / inserted S. No Rule Title Chapter 1 36(4) Conditions for claiming Input Tax Credit Input Tax Credit 2 80(1A) Annual Return Returns 3 80(3A) Annual Return […]
