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...
On 2nd June 2021 Former Finance Minister Mr. P. Chidambaram has criticized Union Government over implementation of GST and Twitted his ten point guide to understand GST implementation. In Reply to this Shri Anurag Thakur, Union Minister of State for Finance & Corporate Affairs has twitted his reply as follows:- Dear Sh P Chidambaram ji, […]
8 Suggestive Practical Measures for Points to Be Pondered Upon in light of Govt’s Latest GST Facilitation Announcements Without going into the legal provisions of the respective Sections, this article discusses practical scenarios in light of the recent trade announcements. 1. Filing Of GSTR 1s While uploading GSTR-1 for the month of April & May […]
Checklist For GSTR-3B Return 1. Details of Outward Supplies (Taxable, Nil Rated, Exports, Exempted) required to be made in specified attached format. (Format attached) 2. Details of Credit Notes/Debit Notes required to be made in specified attached format. 3. Details of Advances received and Advances adjusted during the specified period required to be made in […]
Office Order No. 140 of 2021 With the approval of the Competent Authority, the following officers shall hold the charge along with zonal charges mentioned against their name with immediate effect, until further orders:
In response to outbreak of Covid-19 pandemic, the government has issued various notifications ranging from Notification No. 07/2021-Central Tax dated 27.04.2021 to Notification No. 27/2021-Central Tax dated 01.06.2021 extending certain due dates under GST and granting relief to taxpayers in terms of waiver of interest cost on delayed payment of tax and late fees on […]
Update on the Changes Notified after the 43rd GST Council Meeting 1. Levy of interest on the net tax dues Vide Sec. 112 of the Finance Act, 2021 a proviso has been inserted u/s 50(1) of the CGST Act, 2017 to provide for the levy the interest for the delay in making the payment of […]
Practical Guide to avail the benefit of Amnesty Scheme 2021 When with the force of nature, the humanity is compelled to stand at the departure lounge of god’s airport and when each of individual are going through the phase of emotional stress – many of them are out to help others including the relief measures […]
As GST sought to consolidate multiple taxes into one it was very essential to have transitional provisions to ensure that the transition to the GST regime is very smooth and hassle free and no ITC (input tax credit)/benefits earned in the existing regime are lost. The transition provisions can be categorized under three heads:
1. Blocking of GSTIN for e-Way Bill generation is now considered only for the defaulting Supplier GSTIN and not for the defaulting Recipient or Transporter GSTIN 2. Mode of transport Ship is now updated as Ship / Road cum Ship 3. Suspended GSTINs shall be allowed for E-Waybill generation. National Informatics Centre Release Notes: 01/06/2021 […]
Aditya Singhania Refund arising from payment of interest on Gross Tax Liability after retrospective amendment of interest on Net Tax Liability The issue of charging interest on net tax liability has been a long-driven issue which was initially recommended by the Law Committee to make amendment in section 50 of the CGST Act, 2017 way […]
