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...
Levy of GST on Interest Free Security Deposit and Notional Interest was put in front of AAAR, Maharashtra. The appellate authority held that the definition of consideration is inclusive and the consideration may be in cash or kind. The payment received towards Interest Free Security Deposit will not be treated as consideration
A STANDARD ACCOUNTING PROTOCOL FOR RECONCILIATION OF GST RETURNS WITH BOOKS OF ACCOUNTS With The advent of GST in INDIA, one of Fastest Growing yet among LARGEST Economies of the globe, the destiny of Accounting Framework was set to be changed to bring in more transparency and thereby adoption of more detailed accounting practices. The […]
Service by way of transfer of development rights or Floor Space Index (FSI) on or after 1st April, 2019 for construction of residential apartments by a promoter in a project, intended for sale to a buyer, wholly or partly, where the entire consideration has been received before issuance of completion certificate or its first occupation, […]
F S Enterprise Vs State of Gujarat (Gujarat High Court) Insofar as the Lorry Receipt issued by the transporter is concerned, carrying the same is not a requirement prescribed under rule 138A(1) of the rules. It was submitted that under the circumstances, in the absence of any statutory provision empowering the respondents to make an […]
As per Rule 140, in case the owner of the goods furnishes the security in the form of bank guarantee equivalent to amount of applicable tax, interest and penalty payable, the authorities can consider the release of goods and vehicle.
Whether GST should be charged on `Cheque Dishonour Charges’ had been issue of advance rulings before the various State Advance Ruling Authorities. Recently this issue came before Hon’ble Appellate Authority for Advance Ruling of Rajasthan against the judgement by Ld. Rajasthan Authority for Advance Rulings(RAAR). Appellants have pleaded before the authorities that since `Cheque Dishonour […]
Who needs to file Form GSTR-9A ?All taxpayers registered under the composition scheme under GST, for any period during the financial year, need to file Form GSTR-9A.This will include a taxpayer- Who have opted for composition scheme since registration and have never opted out subsequently; and- Who have opted in for composition scheme any time during the financial year; and- Who have opted in for composition scheme but subsequently opted out any time during the said financial year.
In re City And Industrial Development Corporation of Maharashtra Limited (GST AAR Maharashtra) Question (1) Whether the supply of services by the applicant, of ‘transfer by way of lease’ of vacant plots of ‘Maharashtra State Government owned lands’ or ‘privately owned lands acquired under the Land Acquisition Act, 1894 by the Maharashtra State Government’ vested […]
After 21 months of GST Law being in force, the assessees and their tax consultants are realising that GST requires the revisit of every tax planning / practice which was valid in VAT/ST era, This fact has been very well brought out in the recent judgement of Hon’ble Appellate Authority for the Advance Ruling (GST), […]
What is the RCM (Reverse Charge Mechanism) under GST? Reverse charge is a mechanism under which the recipient of the goods or services is liable to pay the tax instead of the provider of the goods and services. Under the normal taxation regime, the supplier collects the tax from the buyer and deposits the same […]
