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...
Notification No. 05/2019- Central Tax (Rate)– Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council for real estate sector. Government of India Ministry of Finance (Department of Revenue) Notification No. 05/2019- Central Tax (Rate) […]
Notification No. 04/2019- Central Tax (Rate)– Seeks to amend notification No. 12/2017- Central Tax (Rate) so as to exempt certain services as recommended by Goods and Services Tax Council for real estate sector. Government of India Ministry of Finance (Department of Revenue) Notification No. 04/2019-Central Tax (Rate) New Delhi, the 29th March, 2019 G.S.R (E).- In […]
Notification No. 03/2019-Central Tax (Rate)– Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify CGST rates of various services as recommended by Goods and Services Tax Council for real estate sector. Also Read- CORRIGENDUM to Notification No. 03/2019-Central Tax (Rate) Dated 29th March, 2019 Government of India Ministry of Finance (Department […]
The last date to furnish Return for Job Work of the period July 2017 to December 2018 was extended to 31st March, 2019 vide CBIC Notification No 78/2018-Central Tax dated 31st December 2018. Now, the Central Board of Indirect Taxes and Customs (CBIC) has by issue of Notification No 15/2019 dated 28th March 2019, further […]
Union Territory Goods and Services Tax (Removal of Difficulties) Order, 2019- To remove difficulty in case of supply of services covered by clause (b) of paragraph 5 of Schedule II of the CGST Act, 2017 Government of India Ministry of Finance (Department of Revenue) New Delhi, the 29th March, 2019 The Union Territory Goods and […]
Amount of credit attributable to the taxable supplies including zero rated supplies and exempt supplies shall be determined on the basis of the area of the construction of the complex, building, civil structure or a part thereof, which is taxable and the area which is exempt.
GST: It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to […]
With the beginning of the new financial year of 2019-2020 CBIC has issued various notifications to give effect to the recommendations made during 32nd GST Council meeting, held on 10 January 2019, the said notifications have been issued to give relief to MSME sector like increase in threshold limit for registration, concessional rate of tax […]
With effect from 01.04.2019, various changes are being implemented in the composition scheme. As the scheme is required to be opted, this article is an attempt to explain the provision as it shall be applicable with effect from 01.04.2019 for composition dealers.
12 Thing to do/remember before GST Return Filing for March 2019 includes not to delay filing of GSTR 1 or GSTR 3B pertaining to March 2019, Avail all Input Tax credit (ITC) for invoices pertaining to FY 17-18, Raise All Debit Notes pertaining to invoices of FY 17-18 & Inform the Counter party, Avail all […]
