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...
All about Dynamic QR Code on B2C invoices- Latest Notification No. 06/2021 – Central Tax Dated- 30th March, 2021 The QR Story:- The story started for QR code as early as 28/June/2019, when for the first time, ‘QR’ found a mention in the Rule 46, as its 6th proviso. Interestingly, notification 31/2019 (CGST 4th Amendment […]
Article tries to give possible solution in cases where EWB portal displays invalid HSN code due to clash of 6/8 digits regulation which has come into effect from 01st April 2021. With the introduction of minimum 6 or 8 digit HSN/ SAC Codes on the invoices, now there arises an issue as how many digits […]
Service Accounting Code are mandatory on invoices for supply of services as per revised requirement from 1st April 2021 for GST taxpayer with turnover of more than Rs. 5 crore. Annexure: Scheme of Classification of Services S.No. Chapter, Section, Heading or Group Service Code (Tariff) Service Description (1) (2) (3) (4) 1 Chapter 99 All […]
The gross GST revenue collected in the month of March 2021 is at a record of ₹ 1,23,902 crore of which CGST is ₹ 22,973 crore, SGST is ₹ 29,329 crore, IGST is ₹ 62,842 crore (including ₹ 31,097 crore collected on import of goods) and Cess is ₹ 8,757 crore (including ₹ 935 crore collected on import of goods).
GST Compliances Before 31st March 2021 and Changes w.e.f 1st April 2021 Now, we are into the last week of the financial year ending 31st March 2021, there are various tasks which we need to complete before 31st March 2021 as well as various tasks we need to start with effect from 1st April 2021. […]
There are various New Changes in Income Tax Laws, GST Laws, Company Laws & Personal Finances from 1st April, 2021. Covering important changes as follows: A. Income Tax Laws : 1. Aadhar – PAN Linking deadline extended to 30/06/2021 2. Higher TDS/TCS Rates for Non-Filers of Income Tax Returns applicable from 01/07/2021 3. Senior Citizens […]
GST e-invoice system, the game changer in the GST system, has successfully completed journey of six months. During this period more than 39.81 Crores e-invoices have been generated by 88,000+ suppliers. There are more than 47 lakh recipients involved in these transactions, who will be receiving Input Tax Credits easily. On 31st March 2021, 37.42 […]
7.12 Crores E-Way Bills in March-2021; Highest in a month during last three years A total of 180.34 Crores of e-Way Bills have been generated in last 3 years E-way Bill system helped government to facilitate monitoring of the movement of essential commodities and medical supplies, during lockdown necessitated by COVID-19 pandemic E-Way Bill System […]
Manoj Kumar Garg Vs State (Meerut District Court) The statement of accused was recorded and the accused in his statement has admitted that no goods were received by his firm at his registered address from his suppliers and he claimed fake ITC on behalf of these fake firms. During investigation, the fifteen companies are found […]
H.R. Enterprises Vs State Of Rajasthan (Rajasthan High Court at Jodhpur) High Court observed that The assessees and the authorities under CGST/SGST/IGST are giving their own interpretation of the provisions of the Act relating to Goods in Transit. All stake holders are treading in the new GST regime with uncertainties as the path is comparatively […]
