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 : The article explains that where recipients never avail ITC on rejected goods, no reversal is required upon issuance of credit note...
Goods and Services Tax : The representation seeks safeguards against automatic ITC reversals arising from supplier defaults and retrospective cancellations...
Goods and Services Tax : The GSTAT Committee has recommended sweeping changes to the GSTAT Procedure Rules, 2025 to simplify appeal filing and reduce techn...
Goods and Services Tax : The Madras High Court held that complete failure to file the annual return can attract both late fee under Section 47 and general ...
Goods and Services Tax : The Karnataka High Court held that granting only one day's time to respond to a show cause notice violates principles of natural j...
CA, CS, CMA : CAAS suggested that while favourable outcomes may be automated, adverse actions should require a named officer's approval supporte...
Goods and Services Tax : The Rajasthan GSTAT Bar has urged the Tribunal to adopt a pragmatic approach by accepting pre-deposits made through the Electronic...
Goods and Services Tax : Haryana recorded the highest State GST growth rate in India at 22% in May 2026. The achievement is attributed to strong tax admini...
Goods and Services Tax : Practitioners are reportedly following different methods while completing GSTAT appeal forms because of inadequate guidance. The r...
Goods and Services Tax : The certificate clarifies that dealing and investment in securities are outside the scope of GST. Companies engaged solely in secu...
Goods and Services Tax : The Orissa High Court held that a GST appeal filed within the additional one-month condonable period under Section 107(4) could no...
Goods and Services Tax : The Court held that where a purchasing dealer has complied with statutory requirements and acted in good faith, ITC cannot be deni...
Goods and Services Tax : The Madras High Court remanded an ex parte assessment arising from a GSTR-3B and GSTR-2A mismatch after finding that the assessee ...
Goods and Services Tax : The Madras High Court held that Section 125 cannot be invoked where the GST law specifically provides for late fee under Section 4...
Goods and Services Tax : The Court directed authorities to consider restoration of GST registration where the taxpayer undertook to furnish pending returns...
Goods and Services Tax : GSTAT Mumbai Bench has officially commenced functioning, making it mandatory for taxpayers within its jurisdiction to file appeals...
Goods and Services Tax : The Committee recommended replacing daily cause lists with weekly schedules and permitting supplementary lists when necessary. The...
Goods and Services Tax : GSTN has postponed the implementation of mandatory "Ship To GSTIN" capture and voluntary E-Way Bill closure to 1 August 2026. The ...
Corporate Law : The 2026 amendments significantly expand disclosure requirements for operational creditors and corporate applicants. The changes a...
Goods and Services Tax : Gross GST collections reached ₹1.94 lakh crore in May 2026, registering 3.2% growth. The increase was driven largely by a 19.1% ...
For a quick recap of the year, our commitment to the trade and industry to move to a ‘Faceless. Paperless. Contactless’ environment, even before the advent of Covid- 19. had given us a head start.
Firstly, it is to be noted that currently, only companies and LLPs (collectively referred to as the ‘Corporate Debtor’ or ‘CDR’) can be subject to the provisions of the IBC. Thus, partnership firms, proprietary concerns, individuals etc. do not fall under IBC as on date and thus such persons will not be governed by the provisions of the Code.
Allegation of Wrong Availment Of Input Tax Credit (ITC) is Not Sustainable If Conditions of Section 16 of CGST Act Satisfied and Tax Has Been Paid at The Time of Supply The wrong and fraudulent availment of input tax credit and their utilization became a matter of discussion now a days, as recently department arrested […]
1. Rule 86B (Restriction on use of Input Tax Credit for discharging the output liability) has been inserted into CGST Rules, 2017 vide notification no. 94/2020-Central Tax Dated 22nd December 2020 (Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020, to be implemented w.e.f.1st January, 2021. Announced at midnight, nonetheless. 2. This rule basically says […]
BJP Economic Cell, Rajasthan has requested Hon’ble Union Finance Mister to extend due dates of ITR for person (Non-Audit) (FY 2019-20), Tax Audit Reports (FY 2019-20), ITR for other persons (FY 2019-20), GST Annual Return GSTR9/9C/4 (FY 2018-19), GST Annual Return GSTR9/9C/4 (FY 2019-20), Vivad Se Vishwas Scheme, 2020, Companies Fresh Start Scheme. 2020 and […]
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 […]
