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...
ROC Compliances: Extension of deadlines In addition to the Ministry’s General Circular No.17/2021 dated 29.10.2021, it has been decided that no additional fees will be levied for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBRL up to 15.02.2022 and up to 28.02.2022 for the filing of or filing of e-forms MGT-7/MGT-7A for […]
Notification No. 40/2021 – Central Tax dt. 29.12.2021 has been issued to amend the CGST Rules, 2017 to compliment the amendments made in the CGST Act, 2017 that has been brought into force w.e.f. 01.01.2022. The given amendments in the Rules shall also apply w.e.f. 01.01.2022. The detailed analysis of the amendments in the Act […]
In re Handloom Weavers Cooperative Society Ltd. (GST AAR Tamilnadu) GST not leviable on handling charges of PDS distribution of Dhothies & Sarees/ School Uniforms to state government The AAR, Tamilnadu in the matter of M/S. Handloom Weavers Cooperative Society Ltd. [Advance Ruling No. TN/47/ARA/2021 dated December 30, 2021] held that, the services rendered by […]
Applicability of GST rate 5% on marine engines pertaining to HS code without considering its general tax rate as per the entry of Schedule I, SI. No.252 of GST Act dated 28.06.2017, being this engine forms a part of boats of HS code 8906 being supplied to defence department and Naval base, Cochin is available to the applicant when such engines are fit in vessels used for patrolling/flood relief and rescue purposes. Applicability of GST rate at 5% under SI.no.252 cited above is not available for spare parts of marine engines.
Certain changes in Goods Exemption Notification from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 2/2017 Central Tax (Rate) dated June 28, 2017 (Goods Exemption Notification) in order to notify the exemption on certain supply of goods mentioned therein. Further, the new (seventh) edition of the Harmonized […]
Changes in Compensation Cess Rate Notification w.r.t. supply of certain goods from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 1/2017-Compensation Cess (Rate) dated June 28, 2017 (Compensation Cess Rate Notification) in order to notify the rate of GST compensation cess to be levied on the intra-State […]
Certain changes in the Concessional Rate Notification on specified handicraft items from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 21/2018- Central Tax (Rate) dated July 26, 2018 (Concessional Rate Notification) in order to prescribe concessional GST rate on specified handicraft items. Further, the new (seventh) edition […]
Certain changes in Goods Rate Notification from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 1/2017 Central Tax (Rate) dated June 28, 2017 (Goods Rate Notification) in order to notify the rates of GST on supply of goods. Further, the new (seventh) edition of the Harmonized System […]
Notification No. 40/2021-Central Tax has been issued to notify the Central Goods and Services Tax (Tenth Amendment) Rules, 2021. The key changes to come into effect are as follows: 1. Rule 36(4) has been substituted to provide that ITC shall not be available to the registered person unless such invoices/debit notes have been reflected in […]
As per Sources GST Council is expected to meet physically on 31st December 2021 at 11 AM and it may discuss deferment of hike in GST rates on Textiles & footwear below Rs. 1000 – GST Council in its 45th Meeting meeting held in Lucknow on 17th September 2021 has increased GST Rate on Textiles […]
