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 re M/s Keysight Technologies International India Pvt. Ltd. (GST AAR Haryana) Much-awaited clarity was recently provided by AAR- Haryana wherein the applicant raised questions on Taxability of Electricity reimbursements by the Tenants to the landlords. There is this general practice wherein the Electricity connection is in the name of the building owners and Lease/Rent […]
Clarification regarding applicability of All Industry Rates of duty drawback while fixing Brand Rate of duty drawback in post GST era. Circular No. 24/2019-Customs
In re Uttar Pradesh Power Transmission Corporation Limited (GST AAR Uttar Pradesh) i. Whether the Deposit Work undertaken by Applicant is an integral part of supply of services of transmission or distribution of electricity? Ans: No. ii. Whether the Deposit Work undertaken by Applicant is ancillary to the principal supply of transmission or distribution of […]
Why Audit ? Whenever I start thinking of undertaking any kind of audit, a sense of exasperation and a little bit of despondency creep into me. Despondency because I will have to displease people again and again, exasperation because there will be unnecessary but obvious arguments not based on facts and logic but backed by […]
You are aware that Super 30 movie which gives an important social message in the field of education is released throughout India. To promote this social message, Government of Maharashtra has issued above referred GR wherein Government is going to reimburse to the registered theatre the component of State Goods and Services Tax (SGST) prominently indicated in the ticket which is issued for the supply of service by way of admission to the exhibition of movie Super 30 during the period 31stJuly 2019 to 31st December 2019.
According to section 17(5) of CGST Act, 2017, input tax credit will not be available in respect of motor vehicles and other conveyances, except when such motor vehicles or other conveyances are supplied further, or used for transportation of passengers or giving training on driving, flying, navigating such vehicles or conveyances or are used for transportation of goods.
Analysis of the Provisions of Goods and Services Tax (GST) vis-à-vis Central Goods and Services Tax (Fifth Amendment) Rules 2019 Introduction Goods and Services Tax department has recently issued two notifications regarding various amendments proposed in the existing GST laws. The revised rules stated in the Notification No. 33/2019–Central Tax dated 18th July 2019 & […]
Gujarat High Court has reiterated that the power to arrest under Section 69 of the Central GST Act is to be exercised with lot of care and circumspection and that prosecution should normally be launched only after completion of adjudication. The Court directed that no coercive steps of arrest against the writ petitioner should be taken.
At every stage of the supply chain, the buyer of the goods or service gets credit for the input tax paid, and he can use it to offset the GST payable on the output which is required to be paid to the Centre and State governments. To understand this Input Tax Credit concept better, let’s take the help of an illustration of a company called XYZ Ltd which sells custom-made tyres.
Background: The taxpayers may have long outstanding the creditors whose dues are not paid. The non-payment of dues may be on account of many business decisions. As per prudent accounting policies, the long outstanding dues are reviewed periodically and written back (credited to profit & loss account) in the books of accounts. Write back arises […]
