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...
Top 10 updates of GST from the Finance bill, 2019 includes Interest for delay in payment to be made only on the tax to be paid in Cash, Cash ledger optimisation – Enabling transfer of the balances among the CGST, SGST & IGST, Enabling the single window refund mechanism, Moving from PAN based reg,n to […]
Income Tax Highlights of Budget 2019 1. No change in Income Tax in case of income up to Rs 2 crores. 2. Income Tax return can be filed using either Aadhar Number or PAN No. 3. Surcharge – √ Taxable income from Rs 2 crore to Rs 5 crore- Surcharge has been increased from 15% […]
GST processes further simplified; businesses with less than Rs. 5 crore annual turnover to file quarterly GST returns; threshold for goods supplier to be enhanced from Rs. 20 lakhs to Rs. 40 lakhs Sabka Vishwas Legacy Dispute Resolution Scheme to resolve litigations involving more than Rs. 3.75 Lakh Crore of pre-GST regime Customs duty exemption […]
Office of the Commissioner of State Tax (GST), 8th floor, New Building, GST Bhavan, Mazgaon, Mumbai-400010. TRADE CIRCULAR To, …………… …………… No. JC (1-10)-1/GST/2019/CBIC Circular(s)/ADM-8 Mumbai, dated 05.07.2019 Trade Circular (GST) No. 39 T of 2019. Subject: Deemed adoption of certain. Circulars issued by CBIC. Ref. : CBIC Circulars issued during calendar year 2017 and […]
Union Budget envisions India as a global hub for manufacturing electric vehicles Says inclusion of solar storage batteries and charging infrastructure in the fame scheme will Boost production Government has sought lowering of GST on electric vehicles from 12% to 5% Union Budget says government will provide additional income tax deduction of Rs 1.5 Lakh […]
The new rule 10A deals with the requirement of furnishing of the bank account details under GST. The present article tries to explain the provisions of the new rule 10A and the consequence in case of non-compliance of the provisions of rule 10A.
It was recommended that the last date for filing the said intimation may be extended. Accordingly, a corrigendum dated 01.07.2019 to Circular No. 97/16/2019-GST has been issued extending the last date for filing the intimation for availing this benefit from 30.04.2019 to 31.07.2019.
TDS/ TCS taxpayers & Temp ID holder can now add Bank Account details through Non-Core Amendment of Registration. This will enable them to file refund application on GST Portal.
Summary of Various GST Returns & Due dates in July 2019 10 JULY 2019 – GSTR 8 TDS & TCS Return under GST 11 JULY 2019- GSTR-1 for June’19 (Monthly Return) Fot Taxpayer having turnover of more than Rs 1.50 Cr or or opted to file monthly Return 13 JULY 2019- GSTR-6 Every Input […]
Analysis/Rational of Important Decisions/Proposal at 35th Meeting of GST Council. 1. Proposal of E- Invoicing The Council also decided to introduce electronic invoicing system in a phase-wise manner for B2B transactions. E-invoicing is a rapidly expanding technology which would help taxpayers in backward integration and automation of tax relevant processes. It would also help tax […]
