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...
Digital Accounting COVED-19 gives us a lesson to work from anywhere and not necessarily from fixed office place. Rendering accounting service from anywhere needs transformation of physical accounting system to digital accounting system. It is advantageous to business owners in many ways viz. business owners get accounting information readily and accelerate speed of business taking […]
As we all know that, Goods and Service Tax (GST) is the consumption based tax and self-assessment based system i.e. the GST law empowers taxpayers to self-assessed the CGST, SGST and IGST liability and pay the same to the government exchequer. In other words, it could be said that a trust has been placed, by […]
In this article, we will have an in-depth analysis on purpose of circular issued under GST law and their binding value on Assessee, department and courts.
Now, since GST Law is applicable on both goods and services, the concept of composite supply covers all the aspects related to supply of bundled goods or services or both under a transaction. So, the utmost determinant factor is the scope of the concept of composite supply under the GST regime.
In case the supplier has paid GST on advances received for a future event which got cancelled subsequently and for which invoice is issued before supply of service. He is required to issue a “credit note” in terms of section 34 of the CGST Act. The tax liability shall be adjusted in the return subject to conditions of section 34 of the CGST Act. There is no need to file a separate refund claim
1) Introduction : In view of the spread of pandemic COVID-19 across many countries of the world including India, The GOI has increased the due date for filling intimation to opt for payment of tax under composition scheme for FY:2020-21 to 30.06.2020 vide Notification No. 35/2020 – Central Tax dated 03.04.2020. So before advising client […]
Input Tax Credit (ITC) is the base of GST Law and its success or failure depends entirely on the manner ITC provisions are implemented in letter and spirit. Section 16 of the CGST Act, 2017 gives detailed conditions regarding entitlement of ITC and one shall have to religiously comply with them to become eligible to entitle the same.
Issue: Whether separate registration is required for work contract to be executed in another state other than principal place of business. Applicant: M/s T & D Electricals – Advance Ruiling No: KAR ADRG 18/2020 dated 31.03.2020 Provision referred: Section 2(71), 2(89) & 22 of CGST Act 2017 Section 7, 8 ,10 & 12 of IGST […]
Sections 54 to 58 of GST Act’ 2017 deals with refund provisions. For the purposes of this section ‘refund’ includes refund of tax on goods and/or services exported out of India or on inputs or input services used in the goods and/or services which are exported out of India, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilized input tax credit.
Refunds on Payment of Duty : Cir 22/2020 dt 21st April 2020 1. Numerous Shipping Bills having invoice mismatches between the GST returns data and the customs data are presented along with the Shipping Bills 2. Above mismatches have resulted in SB005 error. This error results in blocking of the IGST refund disbursal on payment […]
