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...
In re Mrs. Senthilkumar Thilagavathy (M/s. JVS Tex) (GST AAAR Tamilnadu) The above clarification by the Board in the context of the adoption of HS classification in Customs and the duty drawback clearly provides that the bags (handbags/shopping bags) made of cotton are squarely classifiable under Chapter heading 4202 of the Customs Tariff and not […]
The Central Goods and Services Tax (Amendment) Act, 2018 received assent of The President of India on August 29, 2018 but some of the provisions are made effective from 01.02.2019 vide vide various notifications. This Article discusses the major changes in GST wef 01.2.2019. I. Concept of Business Vertical deleted – GST allows multiple registrations […]
Input Tax Credit, a word which has perturbed many professionals and businesses since the inception of GST. New definitions under GST have unsettled the earlier decisions on CENVAT / MODVAT credit provisions and the GST advance rulings have further aggravated such issues. In this article we have made an attempt to cover all aspects related […]
New Functionality is available on GST Portal where one can Compare the Input Tax Credit taken in GSTR-3B and that available in GSTR-2A. This tool is a great help for making GST Reconciliation for Annual Return or making ITC Reconciliation for Finding out that how much ITC we have claimed in GSTR-3B and how much […]
Now as per CGST Amendment act 2018 Prescribed the New rule for Utilization of ITC as Given in Sec 49A 49A. Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, central tax, State tax or […]
The Government has issued Circular No. 92/11/2019-GST dated 7 March 2019 where certain aspects with respect to treatment of various sales promotion schemes, their impact on taxable value and input tax credits (ITC) have been clarified. A synopsis of the various cases discussed in the Circular is provided below. Cases discussed in the Circular Clarifications […]
Format for Bill of Supply for goods & Service as per notification no. 2/2019 CGST Rate Notification no. 02/2019 CGST Rate has been issued for Composition Scheme for Service provider. Format for bill of supply is attached herewith. Bill of Supply For Service and Goods (Taxable person paying tax in terms of notification No. 2/2019-Central […]
Goods and Services Tax (GST) is a technology oriented tax with a focus to plug revenue leakages. There had been major changes in the procedures like returns, assessments amongst others since the new law had been enforced.
In this article we shall analyse how availment of input tax credit without discharging vendor payment obligation and non-discharge of GST obligation on payments made to unregistered vendors backfires in GST regime.
We have listed out all possible examples explaining impact of changes in ITC utilisation on or after 1st Feb 2019 with its possible proper explanation as new GST set off rules: Case 1 : Where supplier is engaged in making only Local Sale and Local Purchase and thus no IGST transaction. Impact : Since there […]
