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 Good health and good sense are two of life’s greatest blessings. The Indian Healthcare Industry is the largest producer for generics and now among of the major sectors with respect to revenue and to employment. The Pharma and Healthcare Industry has grown significantly and enjoys an important position in the global pharmaceuticals and medical […]
With reference to the Advance Ruling In re Aristo Bullion Pvt Ltd (GST AAR Gujarat), as ruled by the Gujarat Authority for Advance Ruling, the applicant cannot use the input tax credit balance available in the Electronic Credit ledger, from the purchase of inputs used for the outward supply of bullions, against the outward supply […]
This is an attempt to briefly discuss the provisions with regards to issuance of credit note in case of exempt supply and simultaneous reclaiming/reavailing of input tax credit under GST regime. Question: Taxpayer has entered into an arrangement for rendering of exempt supply of service to a government entity which has been notified as exempt […]
There has been chaos whether GST can be levied on vaccination for covid-19 by hospitals. To address this, let us try to analyze the below mentioned provisions in detail. Before we proceed, please note this article is not going to converse on applicability of GST on manufacturing of vaccine but we try to unfold whether […]
After 1 month on 01/07/2021 ” GST Act , 2017″ will celebrate its 4th anniversary, but after being most complicated and confused taxation system still dependent on plethora of department rulings due to lack of technical and theoretical intricacies. Among all of the complication, the Input Tax Credit on supply of goods & services to […]
1. Standard Operating procedures for implementation of the provisions of extension of time limit to apply for the revocation of cancellation of registration As per the Circular no 148/04/2021-GST, where the person applies for the revocation of cancellation of the registration beyond a period of 30 days from the date of order of revocation of […]
No need to do reversal of ITC in case Zero rated supplies even if final product is nil rated supplies As we all know that under section 17 (2) of the CGST Act, where the goods or services or both are used by the registered person partly for the purpose of effecting taxable supplies including […]
Article discusses Amendment in CGST Rules 2017 vide Central Goods and Services Tax (Fourth Amendment) Rules, 2021 as notified vide Notification No. 15/2021–Central Tax Dated: 18th May, 2021. CGST Fourth Amendment Rules, 2021 amends following GST rules- Rule 23. Revocation of cancellation of registration Rule 90. Acknowledgement in FORM GST RFD-02 Rule 92. Order sanctioning refund […]
♦ A taxpayer is entitled to refund of tax wrongly paid or paid in excess (other than zero-rated supplies), in the same mode by which the tax liability was discharged. ♦ The cash part has to be sanctioned and credited to the bank account of the taxpayer by Form RFD-05 & ♦ ITC part should […]
1. Extension in due date for filing GSTR-4: – Composition taxpayers for FY 2020-21- The due date extended to 31st May 2021 from current 30th April 2021. 2. Waiver of late fees in GSTR-3B: – GSTR-3B for the month of March & April 2021 and January-March, 2021 Turnover more than 5 Cr: – filed within […]
