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 High Court grants a final opportunity to a business owner to comply with WBGST Sec. 28(1) after non-compliance led to the...
Goods and Services Tax : Calcutta HC directs GST registrant to file delay condonation application under Limitation Act for appeal rejection despite pre-dep...
Goods and Services Tax : Calcutta HC overturns GST appeal dismissal, condoning the delay caused by technical issues on the GST portal. Case sent back for r...
Goods and Services Tax : Delhi HC upholds bail granted to Sanjeev Malhotra in GST fraud case, ruling against the petition for cancellation of bail....
Goods and Services Tax : Calcutta High Court rules that a Show Cause Notice without date, time, and venue for a hearing is invalid, directing a fresh adjud...
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...
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 […]
The gross GST revenue collected in the month of December 2021 is Rs 1,29,780 crore of which CGST is Rs 22,578 crore, SGST is Rs 28,658 crore, IGST is Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and cess is Rs 9,389 crore (including Rs 614 crore collected on import of goods).
Introduction E – Commerce Industry is gaining its importance nowadays as lot of people prefer online shopping, booking hotels and any services through online due to its convenient usage and saving in time which is available in just click of a button. What about GST aspect in E – Commerce Industry? Let’s discuss this in […]
Section 109 of Finance Act, 2021 has come into effect from 1st January 2022. Section 109 of Finance Act 2021 relates to Amendment in section 16 of Central Goods and Services Tax Act, 2017. (Notification No. 39/2021–Central Tax | Dated: 21st December, 2021) Section 109 of Finance Act, 2021 In this section, section 16 of […]
Analysis of Amendment To CGST Act, 2017 which came in Force From 1st January, 2022 Here with I am providing summary along with analysis of such amendments as below for better understanding to our tax fraternity. Also Read: Notification No. 39/2021–Central Tax [S.O. 5328(E)] 21/12/2021 S. No. Amendment to Section Clause as per Finance Bill […]
The GST Mumbai East Commissionerate of Mumbai Zone, while investigating the business activities of cryptocurrency exchange WazirX have detected GST Evasion of Rs 40.5 Crores. The Commissionerate has also recovered Rs 49.20 Crores in Cash pertaining to GST evaded, interest and penalty.
