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 : This article explains why GST registration is not limited to turnover thresholds. It highlights transaction-based triggers that ca...
Goods and Services Tax : The article highlights how aggressive GST actions impact genuine businesses. The key takeaway is the need for balanced enforcement...
Goods and Services Tax : Understand the mandatory GST compliances when closing a business, including return filing and tax on stock. The guidance clarifies...
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 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 issue was whether a taxpayer could seek revocation after missing the prescribed timeline due to portal restrictions. The Court...
Goods and Services Tax : The issue was mismatch between Section 74 mentioned in summary and penalty imposed under Section 73. The Court allowed rectificati...
Goods and Services Tax : The issue was whether tax demand can exceed the amount and scope mentioned in the show cause notice. The Court held that such exce...
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 : 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...
GST E-invoice- How to handle the ERP scenario where sales accounting entry is posted in the books but IRN generation has failed due to any IRP validation error? Imagine a situation where the transaction is sent for IRN generation to the IRP and due to any reason or any validation error, the IRN generation Fails […]
New Features of Form GSTR-2B & GSTR-3B Made Available To Taxpayers Under QRMP Scheme 1. The new features related to filing of Statement/ Returns by taxpayers under QRMP Scheme, for the quarter Jan-Mar., 2021, which has been made available to them are summarized below. Also Read:Updates in Forms GSTR-1, GSTR-3B & Matching Offline Tool for […]
Smt. Chhaya Devi Vs Union Of India (Andhra Pradesh High Court) FULL TEXT OF THE JUDGMENT/ORDER OF ANDHRA PRADESH HIGH COURT Admittedly in the case in hand the applicant is the proprietor of the company and is responsible to the company for conduct of the business of the company, even if the business is being […]
Updates In Forms GSTR-1, GSTR-3B And Matching Offline Tool For Taxpayers In QRMP Scheme With effect from 1st January, 2021, all taxpayers with Annual Aggregate Turnover up to Rs 5 Crore have been given an option to file their Form GSTR-1 Statement and Form GSTR-3B return on a quarterly basis. They also have an option […]
Provisional Net Indirect Tax collections (GST & Non-GST) for the Financial Year 2020-21 show growth of more than 12% compared to actual Revenue Receipts in FY 2019-20. Net Indirect Tax collections represent 108.2% of the Revised Estimates of Rs. 9.89 lakh crore of Indirect Taxes for the F.Y. 2020-21.
GST helpdesk is in receipt of some tickets at helpdesk wherein it was reported that certain 6-digit HSN codes are not available in HSN Master/ not accepted on e-invoice/e-Way bill portals.
The gross GST revenue collected in the month of March 2021 is Rs. 1,23,902 crore of which CGST is Rs.22,973 crore, SGST is Rs.29,329 crore, IGST is Rs.62,842 crore (including Rs. 31,097 crore collected on import of goods) and Cess is Rs. 8,757 crore (including Rs.935 crore collected on import of goods). The government has […]
In this article there is an effort to touch upon basic but very important topic of Requirement of ‘GST registration’ from the perspective of different ‘Person’. Particulars Voluntary GST Registration Compulsory Registration Threshold limit for Compulsory Registration Remarks • Individual 1. Physical Natural Person who can perform legal action for himself Yes If cross threshold / comes […]
Central Gujarat Chamber of Tax Consultants has made a representation to Finance Minister and requested for extension of due dates of GSTR-1 of monthly tax payers for the month of March ’21, GSTR-1 of quarterly taxpayers who have opted for QRMP scheme for the quarter Jan-Mar ‘ 21, CMP-08 for composition taxpayers for the quarter […]
The GST Council has approved introduction of ‘E-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of business to business (B2B) invoices to GST System.
