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...
Hon’ble Finance Minister, Smt. Nirmala Sitharam in her Budget Speech on 1st day of February 2021, omitted Section 35(5) and substituted Section 44 [by Section 101 & 102 of the Finance Act, 2021 respectively] of the CGST Act, 2017, so as to remove the mandatory requirement of furnishing a Reconciliation Statement (GSTR-9C) duly audited by a Practicing Chartered Accountants or Cost Accountants and to provide for filing […]
The 43rd GST Council Meeting was a much-anticipated meeting considering the demands of the industry for extension of compliance requirements and other relaxations and benefits in imports etc. The first few months of year 2021 were one of the best in terms of GST revenue for the government despite the havoc created by the ongoing […]
In the 43rd GST Council Meeting Certain COVID-19 related relaxations to be provided, it should be a booster does for GST Taxpayers in second waive, in council meeting mainly focus to relaxation on compliances which effected during lock down in mostly state, Relaxation in certain due date of GST Returns and other compliances of F.Y. […]
In 43rd GST Council Meeting held on 28th May 2021, Government has came up with amnesty scheme as well as scheme of rationalization of Late fees to provide relief to taxpayers if they file their GST return beyond the due date. This article covers the relief provided by the government with regard to old GST […]
Article explains Summary of Decisions of GST Council in 43rd Meeting on 28th May 2021 1. Late Fees Amnesty Scheme for pending GSTR-3B returns (For the tax period July’17 to April’21) Category of Taxpayers Max Late Fees Taxpayers with Nil Tax Liability Rs. 500 per return Other taxpayers Rs. 1000 per return Condition- GSTR-3B to […]
In the event of cancellation of residential flats by any customer, whether the relevant date for application of refund of taxes already paid on advances is to be reckoned from date of payment voucher giving back the refund to the customer or is to be reckoned from the date of filing GSTR-3B for the month in which the tax on advances received were paid. The relevant date for filing of refund application in the above situation is the date of payment of tax as prescribed in clause (h) of Explanation 2 of Section 54 of the CGST Act, 2017.
In re Malankara Orthodox Syrian Church Medical Mission Hospital (GST AAR Kerala) Whether GST is leviable on the value of supply of medicine, implants and other supplies issued to our patients during the course of treatment: 1. Who are admitted as inpatients in the following situations? 1.1. In the case where a package is offered […]
जीएसटी काउंसिल की 43वीं बैठक आज हुई ! एमनेस्टी योजना की सिफारिश, वित्त मंत्री का कहना है कि 89% करदाताओं को एमनेस्टी योजना से लाभ होगा! वित्त मंत्री श्रीमती निर्मला सीतारमण जी की अगुवाई में जीएसटी काउंसिल की 43वीं बैठक आज नई दिल्ली में वीडियो कॉन्फ्रेंस के जरिए आयोजित की गयी ! काउंसिल की 43वीं […]
This edition brings to apprise with the decisions taken in the 43rd GST Council Meeting held via video conferencing on 28th May, 2021 after a gap of 7 months. The meeting is attended by the 5 new debut entries of 4 new Finance Ministers of Assam, Bihar (Shri Tarkishor Prasad succeeding Shri Sushil Modi), Kerala (Shri KN Balagopal replacing Shri TM Thomas Issac) and Tamil Nadu while 1 as Chief Minister of Puducherry.
This article is penned to give an insight about the most common query among the GST dealer and who are operating through E-Market place in the area of branch transfer (Transfer of stock made to a branch which is outside India). Typically, this scenario arises when you have to keep your stock in a warehouse […]
