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...
The Hon’ble AAR Odisha, in the matter of Tokyo Electric Power Co. [Order No.02/Odisha-AARJ2020-21 dated November 19, 2020] held that supply of consultancy service to an Indian entity Odisha Power Transmission Corporation Limited (OPTCL) is not import of service in terms of Section 2(11) of the Integrated Goods and Services Tax Act, 2017 (IGST Act) […]
Article explains recent amendments related to Revision in time limits for granting GST registration, Additional Grounds for Cancellation of GSTIN, Suspension of registration without opportunity of personal hearing, Restrictions on filing GSTR-1 in case of non-filing of GSTR-3B, Blocking of E-Way Bill Portal in case of suspension of GST registration, Restriction on availment […]
The GSTN recently introduced downloading Excel file of back up data pertaining to GSTR9’s Table 8A. This comes after several requests where assesses are not able to reconcile GSTR2A with the Values populated in GSTR9. Background: As per GSTR9, the value Auto-populated in Table 8A has to be justified with break up details by the […]
Hyderabad Chartered Accountants’ Society has requested for extension of various due dates under Income-tax Act, 1961 for AY 2020-21 and for filing the Annual Reconciliation Statement (GSTR 9C) along with the annual return (GSTR 9) for financial years 2018-2019 & 2019-2020. Full text of their representation to finance minister is as follows:- Hyderabad Chartered Accountants’ […]
Important Note: – Author in no manner through this article encourage any person to indulge in such activities. This article is only meant to understand the intent of law behind rule 86B which helps to curb fake invoicing. Preface to Frauds under GST & Intent of Law to bring Rule 86B Government with a motive […]
Assessee allowed for monthly instalment facility to pay the tax liability with interest The Hon’ble Kerala High Court in Malayalam Motors Pvt. Ltd. v. The Assistant State Tax Officer [WP(C). No. 21490 of 2020(I) dated October 12, 2020] held that, the assessee who has sought an instalment facility to pay the admitted tax, together with […]
Gist of important changes made in the CGST Rules, 2017 vide Notification issued on December 22, 2020 Lot many changes have been made in the Central Goods and Services Tax Rules, 2017 (CGST Rules) vide Notification No. 94/2020-Central Tax dated December 22, 2020. This article summarises all the important changes made in the CGST Rules, […]
A writ petition was filed in 2019 in Alfa Enterprise v. State of Gujarat, against the blocking of credit ledger in the High Court of Gujarat. The Hon’ble High Court held that the blocking of the credit is not backed by any statutory provision under the CGST Act or Rules prescribed and directed the revenue to unblock the credit ledger. After this decision, the CGST Rules were amended and Rule 86A was inserted to empower a Proper Officer to block a credit ledger on the basis of the grounds provided therein.
Confederation of All India Traders Ref. No.: 3114/1/50 25th December,2020 Mrs Nirmala Seetharaman Hon’ble Minister for Finance Government of India New Delhi Dear Smt Nirmala Seetharamanp, Sub : Amendments in GST making it a complicated Taxation system With deep regret, we are constrained to bring it to your kind and urgent knowledge that recent notification […]
All Odisha Tax Advocates Association made a Request for extension of due date for filing Tax Audit Reports (TARs), Income Tax Return (ITR) for the AY-2020-2021, statement under Vivad Se Vishwas Act, Audit and Annual Return (GSTR9, GSTR 9A, GSTR 9C) under the GST Act. Full Text of their representation is as follows:- ALL ODISHA […]
