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 : Explore why composite GST notices across multiple years should be judged by severability, not invalidation, balancing tax recovery...
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 : 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 Court ruled that cotton seed oil cake qualifies as cattle feed and is exempt from GST. The key takeaway is that exemption appl...
Goods and Services Tax : The case examined validity of a GST demand passed without hearing the taxpayer. The Court held that absence of personal hearing vi...
Goods and Services Tax : The Court held that where an assessment is passed ex parte, fairness requires giving the taxpayer a chance to present their case. ...
Goods and Services Tax : The Court set aside a GST demand order after finding that authorities failed to consider the taxpayer’s replies and supporting d...
Goods and Services Tax : The SC held that imposing an additional bank guarantee was excessive when a ₹1 crore bond with sureties was already furnished. I...
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...
There is no doubt that COVID-19 will have a large impact on Indian economy and presently it looks like that due to Covid-19 crises the Indian economy is in ICU. Even after the government has announced Rs. 20 lakh crores of stimulus package we fell it isn’t enough. Recently Moody has also downgraded Government of […]
Dated: 13.05.2020 Introduction: Under GST Law, when exporter, who are registered under the law, supplies goods or services or both to outside India such supplies are known as Zero Rated Supplies. [S. 16 – IGST Act, 2017] Such an exporter may make Zero Rated Supplies and claim refund pursuant to S. 54 of CGST Act, […]
It has been represented that the IRP/RP are facing difficulty in obtaining registrations during the period of the lockdown and have requested to increase the time for obtaining registration from the present 30 days limit.
1. Upon introduction of the new tax regime of Goods &Service Tax [GST] w.e.f 01.07.2017, all the suppliers/service providers/ manufacturers/dealers etc., were migrated from erstwhile regime of indirect taxation to the new regime i.e. GST. Under the GST regime, every registered person was required to file electronically FORM GST TRAN-1 concerning availment of unutilised input […]
Introduction :- Taxing the Education Sector has always been a sensitive issue, as education is seen more as a social activity than a business one. The government has a constitutional obligation to provide free and compulsory elementary education to every child. Thus, to promote education, it would be beneficial if educational services are exempted from […]
Whether the expenses related to the preventive measures eligible for ITC? The above regulations require business to shell out money on various items like Sanitizers, Masks, Social distancing apps, Medical insurance of workers, Buses for transportation, disinfection of office spaces etc.
GST compliance for Freight Forwarding has always been challenging the industry enters into many complicated transactions. Therefore, GTA, ITC Reversals, LUT, etc. has to be appropriately in compliance with GST Laws. This is a basic checklist for FF Industry which should be followed in order for FF Companies to be compliant with GST Laws.
Introduction The definition of the ‘chargeable event’ in Tax laws is the most important point of litigation, as it determines whether a transaction would attract levy of taxes in the first place, even though all the other requirements are met. Having briefly understood what constitutes ‘Supply’ from Part I of this Article, in the following […]
Introduction The Goods and Services Tax Act, 2017 as a concept is a destination-oriented tax law. It brought about major reforms in the Indirect Tax regime and it seeks to align the same with internationally accepted principles. The various concepts which are defined and used in the Acts i.e., both the CGST Act and IGST […]
Admissibility of Input Tax Credit (ITC) for taxes paid under RCM even after limitation mentioned under Section 16(4) of Central Goods & Services Tax Act, 2017 (CGST Act, 2017). There are lots of controversies rumored among the taxpayers in respect of admissibility of the Input Tax Credit for the amount of taxes paid under RCM […]
