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...
In a recent ruling by the Authority of Advance Ruling (AAR), West Bengal, two interesting things occurred and this article tries to highlight the 3rd interesting thing which is missed out in the ruling of the AAR, so this is an interestingly interesting matter. The ruling was in the case of Mohana Ghosh, In Re […]
The applicant has raised a question, whether separate registration is required in the State of Karnataka for the work contract awarded to him in the State of Karnataka? In this regard we observe that the question raised by the applicant is outside the purview of this authority. The authority for Advance Ruling is created under SGST/UTSGST Act and thus ruling pronounced are applicable within the particular state only, it is for this reason that questions relating to requirement of GST registration in another state is beyond the jurisdiction of this authority and hence no ruling can be given.
What Council Propose – Government Disposes !! Council at their 37th meeting took the following decision with respect to reduction in rates of tax on job-work services: ‘3. To reduce rate of GST from 5% to 1.5% on supply of job work services in relation to diamonds. 4. To reduce rate of GST from 18% […]
In month of september, 2019, CBIC issued various notifications which have been effective from 01.10.2019. Here, we summarised the major changes which are going to effective from 01.10.2019. All below notifications shall be effective from 0.10.2019 Extension of Exemption List Entry No. Earlier Now New Notification Principal Notification 7 Service provided by CG/SG/UT to a […]
Refund under GST is dealt under Section 54 of CGST and SGST Act. GST refund is eligible for 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 balance […]
Online processing of refund applications and single authority disbursement GST Refunds – Online refund processing (End to End) has been deployed by GSTN. Consequently, refund ARNs generated from 26.09.2019 onwards would be processed online , including issuance of GST RFD-04, GST RFD-06 orders and disbursement of all tax heads like CGST/IGST/Cess and SGST/UTGST throughout India […]
CAG is one of the pivotal offices in the Government of India who controls the entire financial system of the country. The appointment of CAG is done by President of India under Article 148. President of India is the Executive head of the Union of India. Audit is conducted by CAG under section 18 of the Comptroller & Auditor General’s (DPC) Act 1971 and the fees are being charged to the service recipient.
There has been a lot of uncertainty on the issue of exigibility of direct assignments and securitisation transactions to goods and services tax (GST). The GST Council has discussed the issue of assignment and securitisation of receivables through different question, extracts have been reproduced below: Section 2(52) of the CGST Act, 2017 defines ‘goods’ to […]
A. Income Tax Updates for the Month of September 2019 A. THE TAXATION LAWS (AMENDMENT) ORDINANCE, 2019 ♦ Tax on income of certain domestic companies- Option for Domestic Company for concessional tax rate of 22% (excluding surcharge & cess) subject to the condition that they will not avail any exemption/incentive. Exemptions / benefits that cannot […]
CBIC issues 43 notifications on 30th September 2019 to give effect to Recommendations made by GST Council in its 37th Meeting. Most of the changes are effective from 1st October 2019 and includes changes in Custom Law, CGST, IGST and UTGST Law. Changes includes changes in Rates on certain Products and Services, Applicability of Reverse […]
