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 Khaitan Chemicals and Fertilizer (GST AAR Chhattisgarh) Payment of IGST under reverse charge mechanism (RCM) on deemed Ocean freight on import of goods (raw material) on CIF basis? In terms of prevailing provisions of the IGST Act, 2017 and the Rules made there under as discussed above, the applicant in addition to IGST […]
Atibir Industries Co. Ltd. Vs The Union of India (Jharkhand High Court) Conclusion: On discovering of technical glitches faced by assessee-company, GST Authority was directed either to open GSTN portal enabling assessee to file its application for refund in GST RFD-01 or to manually accept the application for refund pertaining to the period 2017-18 and […]
Impact Analysis & comments on critical Changes made in GST w.e.f. 1st January 2021 1. Background The year 2020 can be easily be labeled as ‘coming out of comfort zone’ year for the entire world. This year has seen series of changes in GST as well like E-Invoicing, proposed changes in GST Returns, Introduction of […]
In this article, I wish to discuss one such effect when the Government issued a circular to clarify the ambiguity prevailed in determination of value of supply viz. whether FOB value or Invoice value has to be adopted as value of supply in case of Export of goods under GST regime.
For FY 2017-18 and 2018-19, the registered person shall have an option to upload the details for the entries in Table 8A to 8D duly signed, in PDF format in FORM GSTR-9C (without the CA certification).] For FY 2019-20, it may be noted that the details from FORM GSTR-2A generated as on the 1st November, […]
The GST regime has been marked by continuous reforms. It is onerous on the part of the taxpayers to keep in touch with the latest developments. Here is a quick digest of QRMP scheme for your ready reference. A WHO IS ELIGIBLE FOR THE QRMP SCHEME Registered person whose AGGREGATE TURNOVER (IN PREVIOUS FY) <= […]
The Hon’ble AAAR, Karnataka, in the matter of NCS Pearson Inc., [Order No. KAR/AAAR/07/2020-21 (dated, November 13, 2020)] held that, the scoring done by the human scorer is to be regarded as being within the realm of minimum human intervention. Sets aside AAR’s findings of disqualifying classification of a Type-3 test offered by the M/s. […]
GST Compliance Calendar For The Month of January, 2021 for the period of December 2020 which explains due of following forms- GSTR-7, GSTR-8, GSTR-1, GSTR-1, GSTR-6, CMP-08, GSTR-3B, GSTR-5A, GSTR-5, GSTR-3B and GSTR-3B. DUE DATES MONTH / PERIOD FORM PARTICULARS 10.01.2021 December GSTR-7 GST TDS Deductors : For Authorities Deducting TDS 10.01.2021 December GSTR-8 GST TCS […]
GST e-invoice system completed journey of 3 months; Enabled more than 37000 tax payers to generate more than 1680 Lakh Invoice Reference Numbers (IRNs). 603 Lakhs e-invoices generated in December 2020 as compared to 589 lakhs in November 2020
1. Changes in Rule 36(4) of CGST Rules, 2017 from 1st January, 2020- recipients can claim provisional Input Tax Credit (“ITC”) in GSTR-3B to the extent of 10% instead of earlier 20% of the total ITC available in GSTR-2B for the month; 2. Insertion of new Rule 86A providing conditions of use of amount available in electronic credit ledger.
