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...
This article would help persons who have large number of foreign clients, persons who attend foreign business events held outside India, or have holding company outside India including procurement of services from outside India. Service sector plays an important role in technology diffusion especially in areas such as financial services, software, information technology, computing and […]
We are going through the impact of Covid-19 pandemic all over the world and no less in India. Government is making its best efforts to fight the situation however it is responsibility of every citizen to support in their own way. Many Citizens and business houses has jumped into this fight already by providing food, […]
A. Concept: Voucher in terms of clause (118) of Section 2 of Central Goods and Services Tax Act, 2017 has been defined as follows: “”voucher” means an instrument where there is an obligation to accept it as consideration or part consideration for a supply of goods or services or both and where the goods or services or […]
CGST Rule 36(4) states that the provisional tax credit (without invoices on GSTR-2A) can be claimed in the GSTR-3B only to the extent of 10% of eligible
Relaxation of Provision Under Rule 36(4): In Terms of Notification No. 30/2020, a proviso has been inserted in CGST Rules 2017 to provide that the condition as stated in Rule 36(4) of the CGST Rules, 2017 shall not apply to input tax credit availed by the registered person in the returns in FORM GSTR-3B for the […]
Under this topic one need to understand how we will claim the unclaimed ITC as on the date of business reorganization means thereby that when there is change in the constitution of business under the following circumstances ;
In pursuance of the Press release dated 24th March 2020 wherein Government has announced various relief measures to mitigate the severe blow caused by the outbreak of COVID-19 across India and insertion of Section 168A in CGST Act, 2017 by way of an Ordinance, 2020 dated 31st March 2020, the Government, on 3rd April 2020 […]
Summary of relief measures relating to Statutory and Regulatory compliance under Various laws in view of COVID-19 INCOME TAX 1. Donation to PM CARES Fund: Donation to PM CARES FUND would enable the donor to get 100% deduction in section 80G(2)(a)(iiia) i.e. without any internal limit of 10% of adjusted Gross Total Income. Any person […]
Introduction: 1. In the wake of coronavirus and observation of lockdown all over the world, businesses have affected the way they used to carry their business. In India, particularly, the cashflows of the corporates are badly affected due to the slowdown of the overall economy due to humongous changes of laws in various areas which […]
Recently, CBIC issued the few notifications on extension of due date of various compliance except for GSTR 1, GSTR 3B etc. due to lockdown. However, Govt. provide some relaxation like waive of late fees in case of delay filing of GST Returns , no interest or interest at reduced rate etc. Part A: For taxpayers […]
