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...
Form GST REG-01 is an application form for obtaining Goods and Services Tax (GST) registration. The present article tries to simplify the understanding of Form GST REG-01. Applicability and non-applicability of Form GST REG-01 As per rule 8(1) of the Central Goods and Services Tax Rules, 2017, every person willing to obtain GST registration is […]
Even after 3 years of introduction of GST Act, people registered under GST are making many errors while filing their GST returns. It is very important to file GST returns with the most accuracy to avoid litigation from the department. A wrong filing in GST return can impose a huge amount of penalty and interest […]
It is also revealed that vide Section 112 of the Finance Act, 2019 specific penalty provisions have been added for violation of the provisions of Section 171(1) of the CGST Act, 2017 which have come in to force w.e.f. 01.01.2020 vide Notification No. 01/2020 Central Tax dated 01.01.2020, by inserting Section 171 (3A) in the CGST Act, 2017.
In re Ambara (GST AAR Karnataka) Q1. Whether input tax credit is required to be restricted on medicines supplied to patients admitted in hospital? A1. The input tax credit is required to be restricted on medicines used in the supply of health care services provided to inpatients. Q2. Whether input tax credit is required to […]
Whether the Activities of a liaison office amount to supply of services, Whether a liaison office is required to be registered under CGST Act, 2017 and Whether liaison office is liable to pay GST?
1. What is GSTR-10? GSTR-10 is the final return (Statement of Stock held at the time of Cancellation) to be submitted by the Taxpayers who has cancelled their registration by applying form REG-16 on GST Portal or ‘Suo Moto’ cancelled by the Department. 2. Latest Update on GSTR-10 waver of late fee: as per Notification […]
As announced earlier, the 42nd GST Council meeting was held on 5th October 2020, the GST Council met to make the final decision on the compensation cess issues to various states under the GST. The Council also observed the decision to encompass the surcharge on taxes over luxury goods such as cars, and tobacco products beyond the timeline decided till June […]
The GST regime had no provision for ascertaining the taxability of free supplies until 2019. Thus, to avoid uncertainty, double taxation at output and input stage and litigation, the need for a clarification aroused. This article shall analyze the latest circular issued by the CBIC in 2019 providing clarification on the issue concerning the taxability of free supplies under the GST regime.
For the purpose of determination of value of supply under GST, TCS under the provisions of the Income Tax Act, 1961 would not be includible as it is an interim levy not having the character of tax.
The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing today (5th October 2020). The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the […]
