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...
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ The Lok Sabha on 23rd March 2021 passed the Finance Bill, 2021 to give effect to the financial proposals of the Central Government for the financial year 2021-2022. (The Finance ACT, 2021 NO. 13 OF 2021 dated 28th March, 2021) ♦ CBDT revises Form No. 12BA […]
This time in GST new things are in Tax Invoice. With effect from the 1st April 2021, All GST taxpayers will have to furnish HSN (Harmonized System of Nomenclature Code), or Service Accounting Code (SAC) in their Tax Invoices. Further if turnover in PYs is more than 50 Cr then E-invoicing is mandatory.
Delhi HC stays indiscriminate CGST North Delhi Commissionerate summons in Ankit Bindal’s case. The summons are withdrawn on 12/04/2021, setting a precedent against arbitrary summons.
There has been encouraging news from Kolkata on the trade facilitation front. On the 7th of April, our officers cleared the second riverine protocol route for exports from Bangladesh to India. A barge laden with 40,000 cartons of food products started its journey from Palash in Bangladesh and reached Kolkata in eight days after travelling around 710 Kms on the inland waterway.
What is IFF? The Invoice Furnishing Facility (IFF) is a facility where quarterly GSTR-1 filers can Upload their Business-to-business (B2B) invoices in their IFF Return. Difference between GSTR-1 And IFF? GSTR-1 is a Sales Return through which tax payers have to upload their B2B and B2C invoices. Basic difference between these 2 is that B2C […]
GST e-invoice: How to ensure that the invoices printed out of the ERP systems are not printed without IRN? Government has mandated e-invoice for businesses with turnover of more than INR 50 crores w.e.f 1st April 2021. In case e-invoice is not issued by the seller as required by the law provisions, the invoice would […]
The Hon’ble AAR Gujarat in M/s. Shree Arbuda Transport (Advance Ruling No.: GUJ/GAAR/R/82/2020 decided on September 17, 2020) has held that the provisions for seeking advance ruling is limited to the activities conducted by M/s. Shree Arbuda Transport (Applicant) and cannot be sought for the agreement or matters which have not materialized till date. The […]
The Hon’ble Jammu & Kashmir High Court in Navneet R. Jhanwar v. State Tax Officer and Ors. [WP (C) No. 443/2021, dated March 17, 2021] quashed the refund rejection order passed by the Revenue Authority rejecting the claim for refund without giving an opportunity of being heard and remanded back the matter for passing an […]
GST registration is mandatory for casual taxable persons or persons making supplies through e-Commerce operators and non-resident taxable persons, irrespective of turnover limit. ‘Casual taxable person’ means anyone who occasionally undertakes transactions involving supply of goods or services or both in the course of business, whether as principal, agent or in any other capacity, in […]
Mahakali Transport Vs State of Punjab (Punjab High Court) FULL TEXT OF THE JUDGMENT/ORDER OF PUNJAB AND HARYANA HIGH COURT The resolution is not clear as to how the interim release of the goods can be given as at the time of filing of the appeal, the petitioner has deposited the entire 100% of the […]
