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 : As per Section 18(6) of the Central Goods and Service Tax Act, 2017 In case of supply of capital goods or plant and machinery, on ...
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 : 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 : Allahabad High Court ruled Section 130 of GST Act can't be applied for excess stock found during search; Section 73/74 should be u...
Goods and Services Tax : Allahabad HC rules that GST authorities can survey business premises for verifying transactions when goods are intercepted without...
Goods and Services Tax : Madras High Court judgment on Hajee S M Ahamed and Company vs Deputy State Tax Officer, remanding ₹25,000 GST demand and ₹1.36...
Goods and Services Tax : Calcutta HC reinstates GST appeal for Rahul Bansal, ruling technical glitches can't negate statutory rights to challenge orders un...
Goods and Services Tax : Kerala High Court grants a petitioner the opportunity to challenge GST assessment orders uploaded post-registration cancellation, ...
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...
In the AAAR case of United Breweries Limited, Bengaluru (2018) 30 J.K.Jain’s GST & VR 554, it was held that, “as per the agreement between the appellant and the CBUs, the appellant gets a brand fee in lieu of the permission granted to the CBU to utilize their brand. The consideration in the Form of […]
Recover interest on protective basis from your supplier if he has made default in filing of GSTR-1/IFF within due date Department is now issuing the notices for mismatch of ITC comparing GSTR 3B Vs GSTR 2A/B. The reason for such notices because your seller has not filed his GSTR-1/IFF within due date prescribed under CGST […]
Hema Garg and another Vs State of Haryana and another (Punjab & Haryana High Court) It is submitted that in the instant case, the petitioners are praying for anticipatory bail, in response to the notices issued by the respondents-Department, just in the shape of demand in form GST DRC-01A with an advice to pay the […]
M/s. Sivamurugan Chit Fund (P) Limited Vs Commissioner of G.S.T. and Central Excise (CESTAT Chennai) There is no doubt that Section 11B ibid. prescribes the period of limitation for filing the refund claim, but admittedly here, the application for refund was filed on 19.01.2018; the date of the judgement of the Hon’ble Supreme Court is […]
A. Background The COVID hit us hard, the economy has plummeted for a while and the unemployment also soared high. But, as the second wave is also over and now the economy is poised for a tremendous bounce-back. The world is also looking towards India as an alternative to China for the new projects. To […]
Impact of GST on Bitcoin or Cryptocurrency Let we see how the traders of cryptocurrency should liable to pay GST on exchange of Cryptocurrency in India Case 1: Treating Bitcoin or Cryptocurrency as a Goods Definition of Goods and Services under GST Act’ 2017 Definition of Goods – Section 2(52) of GST Act’ 2017 “Goods’’ means […]
Cheema Local Carrier & Construction Vs Assistant Commissioner SGST (Chhattisgarh High Court) Petitioner has filed the current writ petition challenging three issues: Provisional attachment of bank account, Cancellation of registration certificate under Goods and Services Tax (GST); and Input Tax Credit (ITC) being blocked. The Petitioner contended that Rule 21 of the Central Goods and […]
Taxes are the largest source of revenue for the government. Taxes collected are used for governmental activities with aim of nation-building and its development. As per Article 265 of the Constitution of India, ‘No Tax shall be levied or collected except by authority of law’. India is a federal state where both the Centre and […]
Bombay Chartered Accountant’s Society has made following two brief representations on the various legal and procedural issues on the provisions relating to GST registration in the GST law and rules which are relevant from every taxpayer’s point of view. These representation deals with legal issues and procedural issues. Full text of the representation is as […]
What is GSTR-9 Every registered person under GST is required to furnish an annual return specified under rule 80 of CGST rules, due to covid government has eased compliance for small taxpayers having the turnover of less than 2 crore from furnishing annual returns for the last three years. Even though annual returns represent a […]
