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 : The Finance (No 2) Act 2024 been notified on 16th August 2024. The Finance Act sections 114 to 157 Page 114 to 157 (Page 67 to 6...
Goods and Services Tax : Overview of GST tax liability, self-assessment, and the distinction between scrutiny under Section 61 and actions under Sections 7...
Goods and Services Tax : Karnataka HC ruled that under Section 75(4) of CGST Act, a hearing opportunity must be granted before passing an adverse order. Ba...
Goods and Services Tax : Understand GST provisions for invoices and credit notes in the sale of under-construction flats/shops, including time limits, e-in...
Goods and Services Tax : In the recent times, GST Department by exercising the powers bestowed on them by way of Section 65 of the CGST Act 2017, has been ...
Goods and Services Tax : A Superintendent in Nadiad is sentenced to 5 years for bribery. CBI also investigates two GST officers in Hyderabad for demanding ...
Goods and Services Tax : Join our webinars on GST Tribunals preparation. Learn to grow your IDT practice and prepare for GSTAT with expert guidance. Regist...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : Explore the financial impact of tax exemptions for BCCI and IPL, government actions, and proposed reforms from the latest Rajya Sa...
Income Tax : Explore the latest updates on tax benefits for skill development institutions in India, including GST exemptions and income tax re...
Goods and Services Tax : Sri Avantika Contractors (I) Limited. Vs Appellate Authority for Advance Ruling (GST) and others. (Telangana High Court) Telangana...
Corporate Law : Bombay HC upholds priority of Janaseva Sahakari Bank's secured interest over Sales Tax Dept’s claims, setting aside the mutation...
Goods and Services Tax : Madras HC sets aside dismissal of GST appeal for delay, remands case to the appellate authority for fresh consideration despite th...
Goods and Services Tax : Delhi HC grants interim protection to a petitioner alleging misuse of GST credentials for ITC claims, pending further investigatio...
Goods and Services Tax : Bombay High Court held that amount payable has been quantified before 30th June 2019 and hence eligible to avail benefit under Sab...
Goods and Services Tax : Maharashtra GST Circular No. 21T of 2024 updates guidelines for recovering outstanding dues after first appeal until the Appellate...
Goods and Services Tax : Instruction No. 03/2024-GST outlines procedures for CGST audits, emphasizing uniformity and reducing litigation through adherence ...
Goods and Services Tax : Kerala SGST department issues a circular clarifying the method of penalty calculation under the IGST Act, 2017 for tax demands mad...
Goods and Services Tax : CBIC's latest updates include a Customs cooperation deal with New Zealand, a new Hindi magazine, and significant seizures of smugg...
Goods and Services Tax : CBIC issues guidelines for a second All-India drive to detect and eliminate fake GST registrations, safeguarding government revenu...
IGST shall be levied and collected by Centre on Inter-State supplies. IGST would be broadly CGST plus SGST and shall be levied on all inter-State taxable supplies off goods and services. The inter-State seller will pay IGST on value addition after adjusting available credit of IGST, CGST and SGST on his purchases. The Exporting State will transfer to the Centre the Credit of SGST used in payment of IGST. The Importing dealer will claim credit of IGST used in payment of SGST. The relevant information is also submitted to the Central Agency which will act as a clearing house mechanism, verify the claims and inform the respective governments to transfer the funds.
Authority for advance ruling; (AAR) shall comprise one member CGST and one member SGST. The will be appointed by the Central and State Government respectively. Their qualification and eligibility condition for appointment will be prescribed in the Model GST Rules under Section 95.
Any person aggrieved by any order or decision passed against him has the right to appeal. It must be an order or decision passed by an adjudicating authority. However, some decisions or orders (as provided for in Section 93) are not appealable.
In the Model GST Law, the provisions for Settlement Commission are incorporated only under the IGST Act under Section 11 to This implies that cases cannot be settled in relation to tax liability pertaining to intra-state tax administrations which want to constitute Settlement Commission can do so on the basis of the template provided under the IGST Act and the CGST Act can have an enabling provision drawing from the IGST Act for such states.
As per law dictionary and so noted in different judicial pronouncements, the term ‘search’, in simple language, denotes an action of a government machinery to go, look through or examine carefully a place, area, person, object etc. in order to find something concealed or for the purpose of discovering evidence of a crime. The search of a person or vehicle or premises etc. can only be done under proper and valid authority of law.
Transition provision is one time provision which shall be applicable at the time of migration to GST on the appointed day. These provision may be said as most crucial because of migration of existing law in to GST and may face many challenges as well. Provisions have been well laid down in CGST Act,2017 and Rule of Transition.
The Goods and Service Tax (GST) is entering the final arena and no wonder throwing up much surprises. The intent was to ease and simplify the existing indirect tax reforms.
This Series will cover the most important Topic- Transitional Provisions. This topic is very much relevant at this stage for all existing assesses who are migrating into GST and wish to have smooth transition. If, by chance, you didnt come across our previous write-ups in this set of series, those are just one click away on this link GST Simplified.
Under GST the liability to pay CGST / SGST, will arise at the time of supply as determined for goods and services. There are separate provisions for time of supply for goods and time of supply for services.
In case value of goods under movement exceeds Rs. 50,000/- , every supplier, recipient and the transporter has to generate the E-Way Bill in form GST INS-01, which has be carried by the carrier of goods during the movement of goods.
