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...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
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 financial impact of tax exemptions for BCCI and IPL, government actions, and proposed reforms from the latest Rajya Sa...
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 : 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...
I have been watching lot of questions about use of SAC classifications in several groups. I am enclosing herewith list of illustrative SAC classification of services as applicable from July 1,2017. Please note that no specific exemption was available for non-quoting of SAC from the day one of GST Act 2017 Note: All users are […]
RULE 18 OF CGST OR SGST RULES, 2017 (1) Every registered person shall display his certificate of registration in a prominent location at his principal place of business and at every additional place or places of business. (2) Every registered person shall display his Goods and Services Tax Identification Number on the name board exhibited […]
In the backdrop of rising Covid-19 cases in its second wave, the International Monetary Fund (IMF) has raised its forecast of economic growth for India to 12.5% as per latest World Economic Outlook (WEO) for the FY 2022. In fact, it has pitched India as the fastest growing economy major and the only economy to […]
GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, 5 (non-resident taxable person) and 6 (input service distributor). The statement will indicate availability of input tax credit to the registered person against each document filed by his suppliers.
AAR Ruled that A two or three-wheeled battery powered electric vehicle when supplied with or without battery pack is classifiable under HSN 8703 as an ‘electrically operated vehicle’ and is taxable @ 5% GST.
As the imports are treated as inter state supply, Importer has to pay IGST on the goods imported. IGST will be charged at the applicable rate as specified for the respected goods. However, IGST will be paid at the time of paying Basic custom duty along with Social welfare surcharge at the icegate portal. Cess […]
All Sections of GST Law For Fraudulent Practice by Taxable Person Like Fake Invoicing /Bogus Billing INPUT TAX CREDIT’ Section 16 (2): Eligibility and conditions for taking input tax credit (2) Notwithstanding anything contained in this section, no registered person shall be entitled to the credit of any input tax in respect of any supply […]
GST E-invoice- How to handle the ERP scenario where sales accounting entry is posted in the books but IRN generation has failed due to any IRP validation error? Imagine a situation where the transaction is sent for IRN generation to the IRP and due to any reason or any validation error, the IRN generation Fails […]
New Features of Form GSTR-2B & GSTR-3B Made Available To Taxpayers Under QRMP Scheme 1. The new features related to filing of Statement/ Returns by taxpayers under QRMP Scheme, for the quarter Jan-Mar., 2021, which has been made available to them are summarized below. Also Read:Updates in Forms GSTR-1, GSTR-3B & Matching Offline Tool for […]
Smt. Chhaya Devi Vs Union Of India (Andhra Pradesh High Court) FULL TEXT OF THE JUDGMENT/ORDER OF ANDHRA PRADESH HIGH COURT Admittedly in the case in hand the applicant is the proprietor of the company and is responsible to the company for conduct of the business of the company, even if the business is being […]
