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...
Under section 16 of IGST Act 2017, exports are considered as zero rated supplies. Zero rated supplies means where the GST burden on both inputs and outputs is zero. This is mainly to make Indian Goods and Services competitive in the international market. GST Act has prescribed ways to achieve this mainly. 1. Export of […]
Practical Approach of Audit by GST Authorities under Section 65 of the CGST Act, 2017 The intention of this article is to give all the readers a practical understanding of how the authorities go about with the GST Audit and to highlight the parameters which are mostly taken into consideration by the officers as a […]
It’s the era of e-commerce. Shopping websites are much more than just online shopping destinations. Many MSME Start-ups have started working through e-business mode. After you’ve evaluated your online store idea and have a plan for product sourcing, it’s highly recommended that you research any financial & tax related regulations that may affect you when […]
Note on Transfer of ITC on account of Demerger Reference: Circular No.133/03/2020-GST This article is made to brought some clarity in transaction regarding Transfer of ITC in case of Demerger of a Business Unit as per Section 18(3). Before getting into topic it is important to have a brief of Section 18(3). As per Section […]
Article explains Place of supply, Place of supply of service where the location of supplier or recipient is outside India and Place of supply of service where location of supplier & recipient in India:- Place of Supply of Goods: Sec Particulars Place of Supply 10(1) Supply of goods within India a) Involves movement of goods […]
Cryptocurrency Crypto in India has always been something which is not understood by majority masses. India having one of the largest economy in the world, would always fear something which has a potential to replace the fiat currency primarily because it does not have a know how to curb the wrong practices which can result […]
It is usual practice for all the exporters of goods / services to receive money in foreign currency. Few exporters would have EEFC (Exchange Earners’ Foreign Currency Account) where they can directly deposit the foreign currency in their account which would be maintained in foreign currency in an Indian Bank. Majority of the exporters would […]
This article would enlighten you with following aspects: 1. Analysis of term ‘Goods Transportation Agency’ (GTA) 2. Charge of GST in case of Goods Transportation Agency Services 3. Exemptions for GTA under GST 4. Place of Supply (S. 12 & 13 of IGST Act, 2017) [Special Discussion on Proviso for S. 12(8) of IGST Act]
For Exporter, refund of GST is available under Section 54 of CGST and SGST Act. Refund is available in following cases 1) IGST paid on Zero rated supplies 2) Tax paid on inputs for Zero rated supplies (Export supplies) 3) Inverted Duty Structure 4) If taxable person has paid excess tax by mistake 5) Excess […]
Note on Recovery of expenses form Employees wrt Food and Transportation facility etc: – Now a days it’s very common that companies are doing some recoveries on account of food and transportation facility being provided to their employees, let us discuss these aspects under GST in simplest way:- √ By virtue of Schedule I of […]
