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...
Composition Scheme is a simple and easy scheme under GST for Small Taxpayers especially beneficial for B2C businesses. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.5 crore. Special Scheme for Service providers also introduced w.e.f. 1st April’2019 for those having Rs 50 Lakh Turnover. Composition Dealer has to […]
Article explains Meaning of Search And Inspection Under GST, What is Seizure and Detention, Code of Conduct of Search Operations under GST, Procedure for seizure under GST, Powers of the officer authorized to search under GST, What If Stock is not possible to seize under GST, Seizure of Books and Documents and custody of the […]
APPLICABILITY OF GST In the present law, GOODS AND SERVICE TAX ACT, 2017, there is no scope for any Profitability unlike in income tax there is benefit for non-profit organisation. In GST whether an organisation makes profit or not is not relevant. REGISTRATION UNDER GST Limit for registration is Rs. 20,00,000 for services. Limit for […]
The issue that needs to be dwelled upon is as to whether there was a case of not passing on of the benefit of ITC and whether the provisions of Section 171 of CGST Act, 2017 are attracted in the present case.
CBIC Clarification on Application for Revocation of Cancellation of GST Registration CBIC has issued Circular No. 99/18/2019-GST dt 23 April 2019 for Clarifications on issues relating to filing of application for revocation of cancellation of GST registration in terms of Removal of Difficulty Order No. 05/2019 Central Tax dt. 23 April 2019, wherein persons whose registrations […]
This article is all about things you should follow before you think of filling GSTR 9 . Don’t just jump to file GSTR 9. First follow these 3 steps and then go to filling GSTR 9. 1. Matching “TAX AS PER 3B = TAX AS PER GSTR 1 “ First check TAX paid as per […]
In re M/s. Prakash Chand Jain (GST AAR Madhya Pradesh) The product in question is essentially a Rechargeable LED Torch Light (as also mentioned on the packing of the product provided by the applicant). It comes equipped with an inbuilt rechargeable battery with AC adapter for recharging purpose. The product, thus, unquestionably merits classification under […]
It’s an audit season and all of us are busy in planning and executing audits under Companies Act, GST Act, and Income Tax Act. our Admin teams are gearing up to prepare professional charges through the GST invoices must be wondering about the treatment of reimbursement of out of pocket expenses to be collected from […]
In re Senco Gold Ltd (GST AAR West Bangal) The Applicant intends to settle the mutual debts through book adjustments. He seeks an advance ruling on whether the input tax credit is admissible when he settles through book adjustment the debt created on inward supplies from the Franchisee. AAR held that The Applicant can pay […]
In re M/s IMF Cognitive Technology Private Limited (GST AAAR Rajasthan) Credit of input tax is admissible to a registered person, subject to conditions and restrictions , and input tax inter alia is Central tax charged on inward supply of a registered person. Going further, Central tax is Central GST levied under Section 9 of […]
