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...
COVID19 has applied sudden break to halt all industries except few. Pharma is one of the exceptional industries wherein some activities are happening being essential in the current crisis. Though pharma industries are allowed to function during the lockdown, many challenges like, transportation of employees, movement of active pharmaceutical ingredients (API), movement of finished goods […]
Since GST is understood as a ‘destination-based consumption tax’, there is no provision that declares this fact. This missing declaration is more than adequately supplied by the principle being embodied in the provisions of ‘place of supply’. The law makers have declared, in each case of supply, its destination of supply.
CBIC has clarified certain issues vide CBIC Circular No. 137/07/2020-GST dt. 13.04.2020, which is briefed as below: 1. In case where an advance is received by supplier for a Service contract which subsequently got cancelled. The supplier has issued Tax Invoice before supply of service and paid the GST thereon. Whether he can claim refund […]
39th GST Council Meeting Held on 14th March 2020. Deferment and Extension of Return :– > Relaxation to taxpayers for filing GSTR 9C (F.Y. 2018-19) for taxpayers having turnover below INR. 5 Crore. > Due date for filing GSTR 9C (F.Y. 2018-19) extended to 30th June 2020 for taxpayers having turnover above INR. 5 Crore. […]
The Government has released Circular no. 137/07/2020-GST dated 13th April 2020 wherein following matters have been clarified: 1. Cancellation of Goods and Service Contract The treatment under GST have been clarified vide above referred circular in respect of certain transactions of supply of goods and service where the same gets cancelled due to any reason. […]
1. The composition scheme is applicable to manufacturers or traders whose taxable business turnover is up to Rs 1.5 crore (Rs 75 lakh in case of Specified States). A service provider can also opt for the scheme if his taxable turnover is up to Rs 50 lakh. This limit is to be checked in the […]
It was held that stand taken by the respondent that once original return ST-3 is revised, there is no option in the Service Tax Rules, 1994 to permit to file second revised return is not tenable.
Considering the difficult situation the country is facing due to the pandemic of Covid-19, the Government has announced various relief measures for the trade and industry. One such measure is to provide the trade and industry sufficient time to file the GSTR-1 and GSTR-3B for the period February 2020 to April 2020 without any penal […]
Inverted Duty Structure means a situation where in the tax rate on inputs is higher than tax rates on outward supplies. Thus where taxes paid on inputs are at a rate higher than the taxes paid on outward supplies, such situation is an Inward Duty Structure. Inverted duty structure generally results in accumulation of excess […]
CBIC vide Circular no. 137/07/2020-GST dated 13.04.2020 have clarified in respect of certain challenges faced by the registered persons in implementation of provisions of GST Laws: Cancellation of Goods and Services contract The treatment under GST has been clarified in respect of certain transactions of supply of goods and services when get cancelled for any […]
