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...
As the world fights the COVID-19 pandemic, businesses struggle to overcome the economic slowdown post lifting lockdown. Businesses find it difficult to meet the contractual obligations which results in non-performance or delay in performance of obligations. As a result of such defaults, businesses incur huge liability towards compensation or damages based on the terms of […]
Tata Steel Bsl Ltd Vs Union of India (Orissa High Court) Mr. S. Mishra, learned Standing Counsel on behalf of the opposite parties-Revenue submits that the present writ petition is not maintainable as the petitioner has got an alternative efficacious remedy of appeal under Section 107 of the CGST Act, against the impugned order under […]
GST authorities are allowed to initiate inquiry proceedings under Section 70 of CGST Act, 2017 collaterally with the proceedings under section 6(2)(b) as prohibition of Section 6(2)(b) of the C.G.S.T. Act shall come into play only when any proceeding on the same subject-matter has already been initiated by a proper officer under the U.P.G.S.T. Act and therefore, proper officer under the U.P.G.S.T. Act or the C.G.S.T. Act may invoke power under Section 70 in any inquiry.
Singh Traders Vs Additional Commissioner Grade-2 (Allahabad High Court) The contention, in brief, is that the petitioner is registered dealer having a valid registration. The petitioner alleges that the Respondent No. 2 passed an order dated 15.3.2018 under Section 129 (3) of the Uttar Pradesh Goods and Services Tax Act, 2017 (in short ‘the Act’) […]
The gross GST revenue collected in the month of November, 2020 is ₹ 1,04,963 crore of which CGST is ₹ 19,189 crore, SGST is ₹ 25,540 crore, IGST is ₹ 51,992 crore (including ₹ 22,078 crore collected on import of goods) and Cess is ₹ 8,242crore (including ₹ 809 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of November up to 30th November 2020 is 82 lakhs.
`Constitution Day’, while providing us an opportunity to express our gratitude to the architects of our Constitution, is also a day to seek inspiration from the spirit enshrined therein. The 71St Constitution Day of India was celebrated on 26.11.2020 by the Members of the Board by joining the telecast of the Hon’ble President of India in the reading of the preamble to the Constitution, as did the officers in the field.
1. Interest for delayed payment – Tolerance of an Act Vs. Addition to Consideration The Maharashtra Appellate Authority For Advance Ruling in Bajaj Finance Ltd 2020-TIOL-64-AAAR-GST has ruled the additional/penal interest recovered by the appellant from customers against delayed payment of monthly instalments of the loan extended to the customers would be exempt from GST. […]
GST Council in its 42nd meeting held on October 05, 2020 recommended the introduction of a scheme allowing certain class of taxpayers to file quarterly return instead monthly returns from January 2021. However, the concept itself was visualized by the Government while introducing the Finance Bill 2019 wherein Clause 96 was introduced enabling Government to allow quarterly filing of returns which later on was finally provided by Section 97 of the Finance (No.2) Act, 2019 (hereinafter referred to as the ‘Finance Act 2019’).
THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 (12 OF 2017) AS AMENDED BY THE :- THE CENTRAL GOODS AND SERVICES TAX (EXTENSION TO JAMMU AND KASHMIR) ACT, 2017 (NO. 26 OF 2017); THE FINANCE ACT, 2018 (NO. 13 OF 2018); THE CENTRAL GOODS AND SERVICES TAX (AMENDMENT) ACT, 2018 (NO. 31 OF 2018); THE […]
Integrated Goods And Services Tax Act, 2017 No. 13 Of 2017 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 12th April, 2017/Chaitra 22, 1939 (Saka) The following Act of Parliament received the assent of the President on the 12th April, 2017, and is hereby published for general information:— THE INTEGRATED GOODS AND SERVICES […]
