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 dismissed the petition after finding that the petitioner failed to establish a clear connection with the goods and trans...
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 : 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...
Registration under GST : The registration requirements have undergone various changes since the inception of the Goods and Services Tax on 1st July, 2017. There are numerous amendments and also notifications and circulars issued in this regards Section Description 22 Persons liable for registration 23 Persons not liable for registration 24 Compulsory registration in certain […]
Refund of Unutilized Input Tax Credit (ITC) on Zero Rated Outward Supply of Exempted Goods As per Section 17(2) of CGST Act, 2017– ’Where the goods or services or both are used by the registered person partly for effecting taxable supplies including zero-rated supplies under this Act or under the IGST, and partly for effecting […]
ITC of GST paid on works contract services – Significance of nature of property ‘permanent or movable’ and related accounting treatment Pursuant to Covid-19, the business across the globe has undergone various changes which not only includes changes in the working methodologies and IT processes but also includes changes in the physical working environment. The […]
The Andhra Pradesh High Court has ruled that the GST Return (GSTR) Form — GSTR-3B — is a statement and a revision option should be provided. Once implemented at the national level, it will be a big relief for a large number of GST assessees — excluding those under composition scheme. All taxpayers, except those […]
The Government should come up with the mechanism for the taxpayers who could not or partially to avail the benefit of unused erstwhile credit. The taxpayers must submit TRAN-1 manually till government comes with the mechanism. Further, if government does not come up with mechanism, such notification (NN 43/2020) will add fuel to the burning issue of transitional credit.
Goods and Service tax is about to complete 3 years of its implementation and after lots of notifications, circulars, and amendments, it is trying to bring stability and smoothness in its functionality. This journey would not be possible without the help of information technology. Information Technology plays a very important role in GST implementation and […]
The taxability of director remuneration under GST law should be determined on the basis of appointment terms, copy of agreement between director & company, principle of whether a director is employee or not, details of statutory deduction such as PF, ESI, and TDS etc.
NEW DATES FOR 2 Day Web Series on GSTAM (GST Audit Manual) issued by CBIC &Various Notices & Orders received from the GST Department across India and how to prepare for or reply to such notices Tax Guru in association with Tax Connect is Organizinga 2 Day Series for discussions on GSTAM (GST Audit Manual) […]
Many of us have issue with Export Refund not getting credited to our Bank account, even if we have correctly filed all required data in our GSTR 1, GSTR 3B and also with Custom, Then why we are not getting Refund ?? > What are Reasons for this type of Issue? > What are the […]
1. A simplified composition scheme has been provided; vide section 10 of CGST Act for small taxable persons who do not have sufficient knowledge and expertise to comply with the GST requirements relating to records and accounts. 2. The scheme is available to those whose aggregate turnover in the previous financial year did not exceed […]
