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 held that a provisional attachment under Section 83 ceases once a final order under Section 74 is issued. The ruling rei...
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 : 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...
2. Post filing Form GSTR-11, there is an option on the screen to generate GST RFD-10 application form (of the same quarter for which GSTR-11 is filed). Navigate to Returns Dashboard > Select Financial Year and Return Filing Period > Click Search > Click View GSTR11. Click the GENERATE RFD-10 button, RFD-10 form will appear on the resulting screen showing auto-populated tax period same as Form GSTR -11.
Attention is invited to notification No. 02/2019-Central Tax (Rate) dated 07.03.2019 which prescribes rate of central tax of 3% on first supplies of goods or services or both upto an aggregate turnover of fifty lakh rupees made on or after the 1st day of April in any financial year,
Attention of all taxpayers is invited to Rule 46 (b) of the CGST Rules 2017, which specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters – hyphen or dash and slash symbolized […]
Whether excess credit balance lying in Electronic Credit Ledger (ECL) can be claimed as refund under GST ? Electronic Credit ledger (ECL) is a ledger under GST in which all the ITC (Input tax Credit) claimed by the dealer through filing of GSTR3B return gets accumulated and utilized based on the output tax liability. Many […]
Eligibility & Registration under GST Composition Scheme of Service Providers- As Explained in Service Provider having Turnover in preceding year upto 50 Lakh is eligible to opt for Composition Scheme.
With only a few months left before the implementation of GST, small business owners are engrossed in understanding the potential effects of GST on their business. It’s a well-known fact that SMEs (Small and Medium Enterprises) are the primary growth drivers of the economy and major contributors to the GDP. While some business owners have […]
Articles compiles due date of furnishing GSTR -7- Return for Tax Deducted at Source, GSTR-8- Statement for Tax Collected at source, GSTR-1-Details of Outward supplies of goods or services, GSTR-6-Return for Input Service Distributor, GSTR-4-Quarterly return for registered person opting for composition scheme, GSTR-3B-Summary details of month return and GSTR-1-Details of Outward supplies of goods […]
UTILISATION OF INPUT TAX CREDIT – Section 49A & 49B read with Rule 88A of CGST ACT. CGST Amendment Act 2018 insert two new sections Section 49A & 49B containing new order of set off of GST liability (from 1st Feb 2019). Prior to this Section 49(5) of CGST Act contains manner of utilization of […]
The charges for tour package depends upon the type of accommodation choose by the customers. Now the applicant intends to change the modus operandi by issuing separate invoices to customers/guests for the services availed by them, instead of giving as packages. The services offered under different category are;
What is Input Tax Credit (ITC)? Input Tax Credit means reducing the taxes paid on inputs from taxes to be paid on output. When any supply of services or goods is supplied to a taxable person, the GST charged is known as Input Tax. The concept is not entirely new as it already existed under […]
