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 Abhishek Tibrewal (HUF) (Avantika Industries) (GST AAR West Bengal) Since Springs of Iron and Steel, are specifically classifiable under Chapter Heading 7320, the general description under Chapter Heading 8607 is not applicable. Springs of iron and steel for railways are classifiable under HSN Code no. 7320 and taxable @ 18% under Serial No. […]
In re Dinman Polypacks Pvt. Ltd. (GST AAR West Bengal) TRU clarification under Circular No. 80/54/2018-GST issued under F. No. 354/ 432/2018-TRU dated 31/12/2018 in Para 7, sub-Para 7.4 clarifies that Polypropylene woven and non-woven bags and PP woven and non-woven bags laminated with BOPP would be classified as plastic bags under HS Code 3923 and […]
1) The following classes of taxpayers shall be exempted from obtaining registration: a. Suppliers of services, having turnover upto Rs. 20 lakh, making inter State supplies; b. Suppliers of services, having turnover upto Rs. 20 lakh, making supplies through e-commerce platforms.
We are summarising herewith section-wise tabular presentation of amended CGST Act, 2017and IGST Act, 2017 in comparison with pre-amendment Acts. This tabular also discusses the effect of these amendments along with suggestions as to further simplification of the GST Laws.
This list of blocked credit has been updated by amendment in GST Act which shall come into force from 1st February 2019 and the same is presented below in a tabular form for understanding purpose.
Place of Supply for Immovable Property Services under GST is Location at which the immovable property is situated. If immovable property is located outside India, then the place of supply shall be the location of the recipient
The recent ruling of Gujarat High Court (HC) Torrent Power Ltd. v. Union of India, strikes down paragraph 4(1) of Circular No. 34/8/2018-GST dated 1 March 2018 as being ultra vires to the provisions of CGST Act and exemption notification No. 12/2017-Central tax (Rate), dated 28 June 2017. On 1 March 2018, CBIC issued Circular […]
Central Goods and Service Tax (Fourteenth Amendment) Rules, 2018 Notification No. 74/2018 – Central Tax- Dated: – 31st December, 2018 The following rules except under point 9 will be effective from 31st December 2018. 1. Insertion of the sub rule 1(A) after sub rule (1) in rule 12: – Sub: – Application for GST registration […]
The rollout of GST on medicines was contrary to what the pharmaceutical industry was expecting. Currently, the applicable rates of GST on medicines are basically divided into four brackets: 0%, 5%, 12%, and 18%. The pharma sector had been wishing for nil rate of tax, the GST Council capped GST on life-saving drugs at 5 percent and […]
When you purchase any raw materials as inputs to manufacture and sell your commodity, you end up paying tax on such input material. The tax you paid on the purchase of such input material is called Input Tax. At the time of supply of the finished goods, you are required to pay corresponding tax in […]
