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...
CBIC amends notification No. 11/2017- Central Tax (Rate) so as to notify GST rates of various services as recommended by GST Council in its 44th meeting held on 12.06.2021. Notification No. 04/2021-Central Tax (Rate) | Dated: 14th June, 2021. MINISTRY OF FINANCE (Department Of Revenue) New Delhi Notification No. 04/2021-Central Tax (Rate) | Dated: 14th […]
The 44th GST Council Meeting was held on 12th June, 2021 with a single agenda point to discuss the report of the Group of Ministers for GST concessions on Covid-relief items. The Council recommended reducing GST rates on specified items being used for Covid-19 relief and management till 30th September, 2021.
HSN & SAC Code Are Mandatory In Invoice And Form GSTR-1 W.E.F.01.04.2021 Brief Notes on mandatory mentioning of HSN & SAC Code in Invoice and Form GSTr-1 as per amendments to GST Law, 2017 w.e.f.01.04.2021. Dear Professional Colleagues, Good Day to you. I have gone through recent changes about mandatory to mention HSN & SAC […]
In the prevalent economic disorder, it is indeed necessary and obligatory for the holding companies to protect their subsidiary companies from any financial losses and difficulties. For doing so, the concept exists of providing a guarantee by the Holding Company on the loan taken by the subsidiary company from any banks or financial institutions. Guarantee, […]
Finance Bill, 2021 inserted new Section 16(2)(aa) What is the impact of Section 16(2)(aa) on ITC in the near future which is introduced by Finance bill 2021. In this Article we are trying to discuss & analysis sec 16(2)(aa) with sec 37. Provision as per Law 16(2) (aa) The details of the invoice or debit […]
Amit Mitra, Finance Minister of West Bengal has alleged on twitter that GoI led the anti-people move & IMPOSED GST on VACCINE, MASK,hand sanitizer, OXYGEN, PPE, oxymeter, Covid test kit, Remdesivir, RT PCR machine R His voice been IGNORED during 44th GST Council Meeting on 12th June 2021. He said that he has recorded his […]
As part of our constant endeavour to provide a smooth and hassle free experience to the taxpayers and simplify the process for them, to comply with their GST compliances, following functionalities are recently deployed or are being deployed on the portal shortly: Sl.No. Module Form/ Functionality Functionality released/ to be released for Taxpayers 1 Ledgers […]
The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The Council in its meeting has decided to reduce the GST rates on the specified items being used in Covid-19 relief and management till 30th September, 2021.
The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing today i.e. 12th day of June, 2021, Saturday, via video conferencing in New Delhi. Union minister of state (MoS) for finance Anurag Thakur and finance ministers of states and Union territories (UTs) attended the […]
The continuing economic impact of the pandemic, governments, globally, are looking to mobilize revenues and debating on the best way for immediate collection. Should it be taxes directly collected from individual taxpayers such as increased personal income, wealth and property tax; or increased taxes on luxury goods consumption; or taxes collected via the digital economy. […]
