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 light of the recent notifications, Act amendments, It is highly advisable to plunge into the changes and understand their implications on our business therefore there are various palaces on few major changes that GST has undergone, and the impact it could have on the GST returns in the year 2019. (a) RCM on Security […]
Applicability of Ocean freight charges and System of double taxation with respect to imports made in CIF terms (Cost, Insurance & Freight) and in terms of FOB (free on board).
GST- Interest liability U/ Sec. 50 of CGSTA/SGSTA on account of the delayed filing of GSTR-3B returns – Interest liable to be paid both on the cash and the ITC component of the tax paid after the due date prescribed – Recovery of such interest as clearly recoverable arrears
SET OFF RULES WEF 01.02.2019. As per CGST Amendment act 2018, the set off rules has been changed the updated rules are presented with examples as follows: Section 49(2),5(c),5(d) Amended proviso 5(c) “Provided that the input tax credit on account of State tax shall be utilised towards payment of integrated tax only where the balance […]
The functionality to cancel the Registration for migrated taxpayers was made available on GST Portal in October 2017. FORM GST REG-29 was meant for cancellation of the existing taxpayers who were not required to be migrated under GST Regime. Many migrated taxpayers who had issued invoices and filed returns under GST Regime inadvertently and erroneously […]
GST Revenue Collections for the month of January 2019 crosses Rupees One Lakh Crore Mark The total gross GST revenue collected in the month of January, 2019 is Rs 1,02,503 crore of which CGST is Rs 17,763crore, SGST is Rs 24,826 crore, IGST is Rs 51,225 crore (including Rs 24,065 crore collected on imports) and Cess is Rs 8,690 crore (including Rs 902crore collected on imports). In FY 2018-2019, it is for the third time […]
CBIC Notifies applicability of CGST (Amendment) Act, 2018 with effect from 1.02.2019 vide Notification No. 02/2019 Central Tax Dated 29.01.2019. The amendment has following effects:
The Government notifies the applicability of the following acts from 1st February 2019:- CGST (Amendment) Act, 2018 vide notification 2/2019- CGST dated 29.01.2019 IGST (Amendment) Act, 2018 vide notification 1/2019 – IGST dated 29.01.2019, UTGST (Amendment) Act, 2018 vide notification 1/2019- UTGST dated 29.01.2019 GST (Compensation to States) Amendment Act, 2018 vide notification 1/2019- GST […]
The entire process of assessment from issue of notice to assessment order and its acceptance or rejection of application are covered by just GST assessment forms 1 to 18.
For past two days from the time the Central Board of Indirect Taxes and Customs (CBIC) issued few circulars on 29.01.2019 there is a confusion whether the inward supplies from Unregistered dealer taxable under RCM from 01.02.2019?. The following is an attempt to clear the air in this regard.
