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...
Proposed amendments to CGST Act, 2017 Budget 2021 1. GST on supply by clubs, associations etc to its members -Section 7(1)(aa) and an explanation clause proposed to be inserted in the CGST Act, retrospectively with effect from the 1st July 2017,To ensure levy of tax on activities or transactions involving supply of goods or services […]
The Union Budget for financial year 2021-22 has been laid in Parliament on 1st February, 2021 by the Finance Minister. The Budget revolves around three themes i.e., inspirational India, economic development and caring society. The Budget made a statement that of all the structural reforms, the Goods and Services Tax (GST) has been the most […]
Goods and Service Tax ‘GST’ is a trust-based taxation regime wherein a taxpayer have to self-assess his tax liability, tax payment, and returns. Thus, to ensure the correctness of assessment by the assessee GST audit is compulsory. GST audit involves an examination of records, returns, and other documents maintained by the assessee. To ascertain that self-assessed GST […]
In this Article we will discuss about the Eight Terms of Supply. First we will understand the definition of Goods. Goods:- As per the Section 2(52) of CGST Act, 2017 ‘goods’ means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming […]
This is an attempt to apprise you in detail of the Quarterly Return-Monthly Payment (QRMP) scheme has recently been launched by the Central Board of Indirect Taxes and Customs (CBIC). Please note that a Quarterly Return-Monthly Payment (QRMP) scheme has recently been launched by the board and a circular bearing no. 143/13/2020-GST dated 10 November […]
Changes under Income Tax – Union Budget 2021: 1. No Changes in Income Tax Slab rates. 2. Income Tax Return need not be filed by Senior citizens provided that: He is Resident of India and of the age 75 years or more during the previous year He has only Pension and/or Interest Income He shall […]
Journey well started: GST was claimed to be Good & Simple Tax by the Modi Government. The world acknowledged the reform as game changing too. Indian business houses too gave warm welcome to the law. Teething problems were bound to be there initially. No Law can be robust or full proof from day one. But […]
15th Instalment of Rs.6,000 crore released to the States to meet the GST compensation shortfall. A total amount of Rs. 90,000 crore released so far to all States and UTs with legislature. This is in addition to additional borrowing permission of Rs.1,06,830 crore granted to the States.
HC holds E-way Bill mandatory if aggregate value of consigned goods through multiple Bills exceed Rs.50,000/- although each individual Bill is below Rs. 50,000/- The Kerala High Court in the case of Bon Cargos Private Limited vs Union of India and Ors. in Writ Appeal No.1735 & 1736 of 2020 decided on 21-12-2020 has ruled […]
Kaushal Kumar Mishra Vs. Additional Director General, Ludhiana Zonal Unit And Another (High Court Of Punjab And Haryana) High Court held that we are of the view that the investigations being conducted by competent Officers against the petitioner are not hit by provisions of Section 6(2)(b) of CGST Act, 2017. So, we see no reason […]
