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...
India could review the goods and services tax (GST) structure to further prune the number of items in the highest slab of 28% as it attempts to stave off a slump in demand. Some states have favored a reduction in tax rates, worried that the slowdown may get entrenched, and have communicated their concern to […]
Credit note and Discount under GST, and its impact on ITC of recipient of goods or Services Credit note and discount is very common in all kind of business. In general parlance credit note and discount may have same meaning i.e reduction in effective cost to recipient of goods or services. However the act has […]
As 30th June, 2019 is fast approaching the GST Practitioners, auditors and assessees are involving themselves in filing annual return GSTR 9 and 9C. Filling every table in the GSTR 9 is not that much easy as any wrong filling will result in remitting back the amount particularly on account of ITC mismatch in 2A and 3B by the Assessee or an account of debit notes, amendments, wrong utilisation of ITC, RCM etc.,.
Supply from Bonded warehouse will fall under Schedule III of CGST Act and exempted from GST and supply from Non-Bonded warehouse will not fall under Schedule III of CGST Act and therefore not exempted from GST
GST Audit for FY 2017-18 is applicable to every registered person whose aggregate turnover during a financial year exceeds Rs. 2 Crores. The copy of audited annual accounts and a reconciliation statement is to be furnished while filing GSTR-9C.
Shri Deepak Kumar Khurana Vs M/s Sattva Developers Pvt Ltd. (National Anti-Profiteering Authority) The Respondent has himself admitted that there has been benefit of ITC derived and the benefit has been passed on by him to all his customers with whom agreements were entered on or before 30.06.2017. According to him the benefit has been […]
Postpone the last date for filing yearly returns in Forms GSTR 9,GSTR 9A and GSTR 9C or withdraw it completely, at least for the FY 2017-18
In last articles of ‘Analysis of Proposed GST Return Applicable from 01st July 2019 Part I’, we discussed about various scenario of New Return. Now further continuing with Analysis process, below are the details of New Article Analysis of GST RET-1 Normal/ Monthly return Summary of outward supplies, inward supplies attracting reverse charge, debit / […]
Goods and Service Tax – GST was introduced on 1st July, 2017 with an aim to overcome all the loopholes of the earlier indirect tax regime and more importantly to increase the transparency in the system. GST is just going to complete its two years and inspite of it being a new law, with more […]
nput tax credit on inward supplies received in 2017-2018 but availed in April, 2018 to March, 2019shall be declared in Table 8C of FORM GSTR-9. > Transactions relating to financial year 2017-18 but declared in returns from April, 2018 to March, 2019 shall be declared in Part V of FORM GSTR-9.
