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 : The Court ruled that limitation under Section 54 cannot bar refund of mistakenly paid GST. It held that excess tax collected witho...
Goods and Services Tax : Explains why liquidated damages are generally not subject to GST unless linked to a supply. Highlights the importance of distingui...
Goods and Services Tax : The Court ruled that ITC on GIDC charges is allowable where no construction is involved. It also held that Section 74 proceedings ...
CA, CS, CMA : The update discusses GST rulings on ITC and refunds, income tax relief interpretations, and insolvency reforms. It also covers dis...
Goods and Services Tax : The court held that recovery cannot proceed against a legal heir without determining liability under Section 93, reinforcing due p...
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims exceeding ₹8 crore without actual supply of goods. The ruling highlights that ITC is...
Goods and Services Tax : The case highlights that summons lacking details of the underlying inquiry violate procedural fairness. It underscores the need fo...
Goods and Services Tax : CBI arrested GST officials for demanding a bribe to facilitate registration approval. The case highlights strict enforcement again...
Goods and Services Tax : The court refused to entertain a constitutional challenge raised to bypass limitation. It allowed filing of appeal with delay cond...
Goods and Services Tax : The court declined to examine the constitutional validity of Section 16(2)(c) in absence of clear factual basis. It held that disp...
Goods and Services Tax : The court addressed denial of input tax credit due to mismatch with GSTR-2A and missing invoices. It allowed the taxpayer to seek ...
Goods and Services Tax : The court held that an adjudication order passed without considering the taxpayer’s reply is unsustainable. It remitted the matt...
Goods and Services Tax : The Court held that a single show cause notice covering multiple assessment years is not legally sustainable. Authorities were per...
Goods and Services Tax : This case highlights how delays in filing appeals against adverse GST orders weaken the department’s legal position. It undersco...
Goods and Services Tax : This case examines delays in transferring non-priority files after departmental restructuring. It mandates systematic redistributi...
Goods and Services Tax : This case highlights lapses in examining tribunal orders before filing revisions. It mandates detailed legal analysis and reasoned...
Goods and Services Tax : The ruling highlights gaps in recovery proceedings due to unclear role allocation. It strengthens the system by redefining respons...
Goods and Services Tax : The GST portal launches an Excel-based IMS Offline Tool to help taxpayers efficiently manage and process invoices. It enables bulk...
INTRODUCTION 1. Charity and mutuality are age-old concepts. The former is done as an act of benevolence. The latter is an arrangement to achieve a common purpose. One undertaking such acts, therefore, needs to appreciate the implications under the GST laws to avoid any undue demands in future. This is more relevant for the reason […]
One word which stand synonym to GST from compliance perspective is RECONCILIATION! Most of the Consultant’s time or the taxation team of any organization is spent in preparing and undertaking several reconciliations under GST. Because of the same, the demand and market for tax technology solutions have thrived and prospered. Several consulting firms now have […]
In this Volume of GST & Corporate Tax Weekly Newsletter dated 17.07.2021, I bring to you highlights of recent updates, important judgments of last week &Compliance Calendar for the upcoming week in the field of indirect taxation and direct taxation to keep you abreast of all the latest happenings. 1. GST Updates CBIC clarifies on Hon’ble […]
Section 77 of CGST Act, 2017 read with Section 19 of IGST Act, 2017 governs the provisions for Tax wrongfully collected and paid to Central Government or State Government. The same is decided in the case of Shree Nanak Ferro Alloys (P.) Ltd. v. Union of India and details thereof are as follows:- ♦ Facts […]
Now-a-days a sms alert is being received to the Tax Payer from the GST Department in regard to non-filing of return. Format of the SMS is as under: Alert SMS:07AA……….ZX is GSTR1 defaulter.Pl file return else best judgment assessment will be done U/s 62 of DGST ACT. Ignore if filed DT&T,GNCTD What is section 62 […]
GST (Goods and Service Tax) is four year old now and right from its inception we have seen lot of changes and amendments in the law. Now, most of the taxpayers are familiar with GST Laws, processes and procedures in GST and are moving smoothly as it becomes older and more streamlined. The present article […]
Further, stated that illusionary pre-show cause consultation notice is not only arbitrary, but is in utter disregard and in contravention of the very object and purpose of the above Master Circular.
In one of the Advance Rulings for exemption in taxability of renting of immovable services, there was a difference of opinion between members. However, as per section 101 of CGST Act, 2017, the Appellate Authority modified the ruling. In this case, the applicant (NDDB) was a statutory body formed under the NDDB Act. Besides providing […]
Clarification regarding extension of limitation under GST Law in terms of Hon’ble Supreme Court’s Order dated 27th April, 2021 – CBIC has issued a Circular No 157/13/2021-GST dated 20th July, 2021 clarifying on extension of limitation for various actions under the GST Laws pursuant to Hon’ble Supreme Court’s Order dated 27th April, 2021 The Government […]
GST brought many benefits to the businesses and economy of our country. Among all other benefits, one benefit which was emphasized at the time of its introduction was ‘Seamless flow of credit’. Provision under GST Law has been enacted in such a manner to achieve the said objective. However, there is still a need for […]
