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...
Notification No. 88/2020 dated 15.10.2020 (Central Tax) In the said notification w.e.f 01.04.2021 Those Tax Payer whose Aggregate Turnover above Rs.5 Crore during the Financial year (2020-2021), 6 Digit HSN/SAC for Goods & Services to be mentioned in all Type of Tax Invoices. AND Those Tax Payer whose Aggregate Turnover upto Rs.5 Crore during the […]
The current situation from which we all are struggling and fighting day in and day out is to eliminate COVID-19 as soon as possible by undertaking vaccines as per the criteria’s set by Central Government regarding Age limits, and following COVID appropriate behavior in the form of wearing masks, sanitizing hands, and maintain sufficient social […]
The Central Finance Act 2021 has been passed by both the houses of parliament and the President has given assent on 28.03.2021. It has made several amendments to the Central Goods & Services Tax Act, 2017 (CGST Act) followed by corresponding changes in the respective State Goods & Services Tax Acts, 2017 (SGST Acts) and […]
After 14 years of long effort by Dr. Kelkar Shah, Finally since 2017, The Government made 101st amendment in the constitution of india and implement GST Act, 2017 and lot many changes have taken place since then. Due to a large number of amendments in the Act, there is a confusion as regards to threshold […]
Today, with the rise of cryptocurrencies and their underlying technology, we stand at the helm of a digital revolution. Cryptocurrencies like Dogecoin, Bitcoin, Ethereum, and Mon-roe are the digital currency used to buy online goods and services, just like tokens or casino chips. Cryptocurrencies operate using a technology called blockchain. There are more than 6,700 different […]
Recent important Updates in GST: There have been some changes in GST in the month of May 2021. Same has been discussed below – 1. Requirement of Rate of Tax in HSN table of form GSTR 1 2. Generation of form GSTR 2B for the month of May 2021 3. Extension of the due date […]
Under the FTP 2015-20, MEIS/SEIS intends to incentivise exports of goods manufactured in India or produced in India. The duty credit scrips can be utilised to pay customs duties on import of inputs or goods, safeguard duty, anti-dumping duty and any other customs duty under FTP 2015-20.
Motor vehicles are an inextricable part of modern life commutation. The industry has grown clouds & skies over last century and is today one of the largest sectors in the economic scheme of things.
It is witnessed that there is a surge in Vehicle detention cases under GST in the past few months. The Finance Act 2021 also amended Section 122 and Section 129 by which it is understood that movement of goods under GST would become all the more stricter. However various Court decisions in the GST Era […]
Notification No. 15/2021 – Central Tax has been issued by the CBIC today notifying Central Goods and Services Tax (Fourth Amendment) Rules, 2021. A brief summary of it is as under: 1. Rule 23(1) is amended to allow filing of application for revocation of cancellation of registration within a period of 30 days from date […]
