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...
Janya : Today I want to know about GST Input tax and GST Input tax credit. I want to discuss specifically today about input tax only in this session Tanishi : Yes, today, we will specifically cover practical scenarios on input tax issues. Let me first explain the theoretical concept of input tax and input tax credit. […]
The basic principal of Input Tax Credit ( ITC) under GST is the availability of credit for taxable supplies only . If some of supplies are taxable and some are exempt, the taxable person can take only proportionate input tax credit. This principle applies to input goods, input services and capital goods. As per section […]
Introduction A taxable event is that event, the happening of which attracts liability to tax. The taxable event for attracting GST is the SUPPLY of goods or services or both. The term supply has got its significance as a deciding factor whether GST is applicable or not. Hence, the definition of supply becomes the first […]
As per Section 90(3) of CGST Rules, (3) Where any deficiencies are noticed, the proper officer shall communicate the deficiencies to the applicant in FORM GST RFD-03 through the common portal electronically, requiring him to file a fresh refund application after rectification of such deficiencies. As per GST Circular No. 125/44/2019 – GST dated 18th November 2019, […]
This article covers following relevant points related to GST Applicability & Treatment of ITC availed on sale of Fixed Assets:- GST Applicability on Sale of Capital Goods purchased in Pre GST era, Treatment on Sale of Capital Goods purchased after implementation of GST, Liability on sale of Capital Assets on which Input Tax Credit (ITC) is not availed, How to deal with loss/damage of assets where no consideration is received? and Tax treatment on sale/disposal of capital goods in case when ITC is availed.
Through this article, an attempt has been made to discuss and understand the provisions of CGST Act read with Central Goods and Services Tax Rules, 2017 (hereinafter referred to as CGST Rules or the Rules) in so far as these provisions read with rules relate to the payment of taxes under the law and interest in case of delayed payment of tax.
♣ Permanent transfer or Disposal of Business assets, on which ITC has been availed. (Business assets are those assets forming part of the assets and are used in the course of business) In View of the above entry, where the businessman has availed input tax credit on some business assets and he subsequently transfer […]
Taxpayers Beware !!! Please do not click on any fake link which promises to give refund. These are phishing messages and are not sent by CBIC or @Infosys_GSTN. Visit http://gst.gov.in for online filings related to GST #IndiaFightsCorona #StaySafe
It has been observed that some fraudulent messages are being circulated on WhatsApp, Email and SMS, claiming to process GST refund. It clearly shows that some miscreants have started to take undue advantage of Covid-19 crisis, by sending out fake messages with phishing links. One such link takes to a portal claimed to have been developed by GSTN.
Madam, you have provided relief for additional 15 days from Interest after the due date of 20th April, considering the original period of Lock down which was to end on 14th April 2020.,as per Notification 31/2020 (Central GST) dated 03 April 2020.
