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 : Madras High Court held that it is not justifiable to impose disproportionate liability under section 74 of the respective GST enac...
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 : 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...
The registration for the exam can be done by the eligible GSTPs on a registration portal, link of which will be provided on NACIN and CBIC websites. The registration portal for exam scheduled on 14.06.2019 will be activated on 21st May, 2019 and will remain open up to 4th June, 2019.
Due date of filing Form GSTR 3B for the month of April, 2019, extended for cyclone hit districts of Odisha for registered persons in specified districts of Odisha till 20.06.2019 vide Notification No. 24/2019 – Central Tax dated 11th May, 2019. As per notification no. 24/2019 both dated 11-May-2019, issued by Government of India, Ministry of […]
Due date of filing Form GSTR 1 for the month of April, 2019, extended for cyclone hit districts of Odisha for taxpayers having aggregate turnover more than Rs. 1.5 crores for the month of April, 2019 for registered persons in specified districts of Odisha till 10.06.2019 vide Notification No. 23/2019 – Central Tax dated 11th May, […]
Reversals explained in Detail are as Follows- -Rule 37 – 180 Days Non Payment -Rule 39 – Credit note issued to ISD -Rule 42 – Inputs used for Exempted Supplies/Personal Use -Rule 43 – Capital Goods used for Exempted Supplies/Personal Use -Others 1. Rule 37(2)– 180 days Non Payment As a dealer, you would have […]
The date for exercising the option for residential real estate project to either stay at old GST rate (8% or 12% with ITC) or to avail new GST rate (1% or 5% without ITC) is being extended to 20.05.2019 from 10.05.2019. Government of India Ministry of Finance (Department of Revenue) Notification No. 10/2019-Central Tax (Rate) […]
CA Dilip Kumar Bothra 1. What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 1.5 Crore (s. 75 lakhs in case of few States). The objective of composition scheme is to bring simplicity and to reduce […]
A person is registered or is liable to be registered under the law would be a taxable person in GST. A person would be liable to be registered under the law under two categories: a) Person liable to be registered mandatorily. b) Person liable to be registered provided aggregate turnover of supply of goods or services […]
Let’s see how? GST is applicable from the July 17 so for FY 17-18 we have only 9 months of GST period that is July 17 to March 18. Aggregate Turnover:- Rule 80(3) says that ‘Every registered person whose aggregate turnover during a financial year exceeds 2 crore‘ GST audit required. It means we have […]
In case an exporter of services outsources a portion of the services contract to another person located outside India, what would be the tax treatment of the said portion of the contract at the hands of the exporter? To clarify the issue, Circular No. 78/52/2018-GST; Dated the 31st December, 2018 was issued. Let’s in this […]
Respondent had issued incorrect invoices while selling the above products to his recipients as he had incorrectly shown the base prices and had also compelled them to pay additional GST on the increased prices through the incorrect tax invoices which would have otherwise resulted in further benefit to the recipients.
