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 DGGI has been spear heading the anti-evasion campaign for almost a month now. During this time, the agency along with the GST Zones have booked about 1230 cases, unearthing 3778 fake GSTINs and arresting about 114 fraudsters. The total amount of fake ITC/GST detected stands at Rs. 11,520 crore of which Rs 336.03 crore has already been recovered.
Demurrage charges are collected by the shipping line from the foreign vendor in case of delay in unloading the goods beyond a specified period since such delay results in his vessel being detained. If there is a delay in unloading the goods because of the Indian Importer, the Indian Importer will reimburse an amount equal […]
Synopsis of Extension of Due Date for ITC-04 September2020 CBIC released Notification No. 87/2020-Central Tax dated 10th November, 2020 for extension of Due Date for FORM GST ITC-04 for the quarter ending September 2020 (from July, 2020 to September, 2020). Following questions emerge out of this-: ♦ Define principal, job work and job worker? As […]
GST – Applicability of HSN on introduction of GST- Initially when GST was introduced on 01.07.2017, it was made optional to mention on the tax invoice for the different categories of dealer.
QRMP Scheme (Quarterly Return Monthly Payment Scheme) – New GST Return System w.e.f. 01-Jan-2021 In the recent World Bank’s ease of doing business 2020 report, the country jumped to 63rd position, among 190 nations. India also figured among the top 10 performers on the list for the third time in a row. On the same […]
Things You Need to Know about E-way Bill What is an E way Bill? E-way Bill is an Electronic Way Bill for the movement of goods from one place to another which is to be generated on the E-way bill portal i.e. on ewaybillgst.gov.in. If the value of goods exceeds ₹ 50,000 a GST registered […]
Jharkhand has become the latest State to go for Option-1. Jharkhand will get Rs. 1,689 crore through special borrowing window to meet the GST implementation shortfall. Permission to raise additional Rs. 1,765 crore through borrowings also issued to Jharkhand
Directorate General of GST Intelligence (DGGI) Visakhapatnam Zonal unit has busted a major fake input tax credit (ITC) racket being operated by a 28 year-old Chartered Accountant based at Guntur.
Advisory on Quarterly Return with Monthly Payment scheme is issued by GSTN For information and guidance purposes and contains FAQs divided in following sections Eligibility and Opting for the scheme, System defaulting, . Actions required for first two months of the quarter, Details on viewing GSTR-2A and 2B, Actions required for the last month of […]
Article contains FAQs on Form to Change Profile for Quarterly Return and Monthly Payments (QRMP) Scheme under GST and process and Form to Change Profile on GSTN portal. FAQs contains Answers on Overview of QRMP Scheme, Invoice Furnishing Facility (IFF), Opting for QRMP Scheme, Migration of Existing taxpayers to QRMP Scheme and Changing Profile After […]
