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 involved challenge to provisional attachment under Section 83 of the CGST Act. The Court refused to interfere, holding t...
Goods and Services Tax : The Court held that cancellation based on grounds not mentioned in the show cause notice violates natural justice. The order was s...
Goods and Services Tax : The court ruled that cancellation was unsustainable where authorities ignored documents and passed non-speaking orders. It emphasi...
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 : 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...
In re Shapoorji Pallonji and Company Private Limited (GST AAAR Tamilnadu) The Appellate Authority has ruled as follows: 1.With regard to the Mobilization Advance transitioned into GST on which no Service Tax is paid as per Chapter V of Finance Act 1994, the issue is not answered and is deemed to be that no ruling […]
The Ministry of Finance, Department of Expenditure has released the 13th weekly instalment of Rs. 6,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States and an amount of Rs. 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation.
Constitution of India (hereinafter referred to as the Constitution) defines the expression ‘goods and services tax’ as any tax on supply of goods or services or both, except tax on supply of alcoholic liquor for human consumption. The Constitution provides that Legislature of each State can make goods and services tax (hereinafter referred to as […]
It is seen that often business entities provide working lunch or canteen services during office hours to employees / workers free of cost or at subsidized rates or against recovery of charges towards canteen services by way of receiving payment from employees or deduction of such amount from salary of employees. Whether such provision of […]
In the real estate industry, redevelopment agreements are often observed model. Societies, after few years of constructions, undergo redevelopment of the property. In such type of model, generally 3 parties are involved viz. society, developers and existing society members. In this article, we are going to discuss the flow of transactions, taxability and other aspects in these kinds of arrangements.
Due date for filing Form ITC-04 (details of job work challans), in respect of inputs/capital goods sent to a job worker or received from a job worker, during the quarter (October to December 2020) is 25-01-2021 Login to www.gst.gov.in ->Go to Services -> In the drop-down click on Returns -> ITC Forms Due date for […]
New functionalities made available for Taxpayers on GST Portal (October-December, 2020) Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund, other Miscellaneous topics. Various webinars are also conducted during the period for the benefit […]
Health Care has become one of the India’s Largest Sector, both in terms of Revenue and Employment. Health Care Industry comprises of Hospitals, Medical Devices, Clinical Trials, Outsourcing, Telemedicine, Medical Tourism, Health Insurance, Medical Equipment and several other facets. The Indian Health Care sector is growing at a brisk pace due to its strong and […]
Why do we need Advance Authority Rulings under GST? We need them because only after reaching out to an AAR, we understand that there is an underlying problem that needs our attention. Thanks to the plenteous AAR decisions, now we have great precedents from judicial forums and Interpretations available with the legal fraternity that the […]
H.M. Leisure Vs State of West Bengal (Calcutta High Court) It is trite law that when an appeal provision has been provided under the statute, the Authorities are not allowed to recover the amount payable unless there are extenuating circumstances. In the present case the dispute is with regard to classification issue, and therefore, I […]
