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...
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. […]
It is very important that GSTR3B Return is reconciled with books of account every year during the audit. Find attached an automatic excel tool for Summarizing the PDF. This is a macro enabled work book. PDF settings as per HOME page to be done.
This article is not about GST Portal Getting down/slowness of GST Portal or its capacity issue. We have listed here many other issues which taxpayers are facing on GST PORTAL. These issues has made GST portal inefficient and give taxpayers poor experience when it comes to Return filing or getting/reconciling details from the portal – […]
I have noted down Bare Act provision, rule & Circular. It will Take you to the journey of ITC in GST from 36(4),2A, 2B, and then 16(2)(aa) Rule 36(4) is the longest confusing debatable topic which I had discussed with others. ANALYSIS OF 36(4) AND JOURNEY OF ITC FROM BOOKS TO 2B RULE 36(4) (introduced […]
