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 : This explains how courts have imposed strict safeguards on ITC blocking under Rule 86A. The key takeaway is that due process is no...
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 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...
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 […]
Present article highlights the online steps the registered person needs to follow to download the GST registration certificate. The article also provides the understanding of the parts of the registration certificate along with the important rules attached to the registration certificate.
REVERSE CHARGE MECHANISM (RCM) ON SECURITY SERVICES w.e.f. 1st January, 2019 RCM is one of the method to collect indirect taxes by the Government, under which a recipient (i.e. Buyer) who procures goods or services is required pay the taxes directly to tax authorities. As per Notification No. 13/2017- Central Tax (Rate) dated 28th June, […]
The GST i.e. ‘Goods and Service Tax’ was launched at the midnight on 1st July, 2017. GST is an indirect tax / consumption tax levied on all the supply of goods and services in India. GST has subsumed around 15 indirect taxes, collectively being levied by the central government and the state governments, into single […]
The construction industry has always been the talk of the town be its continuous rising prices or be its indirect tax implications. Even under the earlier tax regime, indirect tax implication, for the construction industry, was very complicated and confusing and the same was carried forward under the Goods and Service Tax Act. Under the […]
A registered person, other than a person opting to pay tax under composition scheme, shall be entitled to take credit in his electronic credit ledger the amount of CENVAT (or VAT credit) credit carried forward in the return of the last period before the appointed day, subject to the conditions stated therein. (Section 140(1) of the CGST/SGST Act)
Goods and Services Tax Network (GSTN) is a not-for-profit, non-government company under Section-8 of the Companies Act-2013, promoted jointly by the Central and State Governments, to provide shared IT infrastructure and services, t o both central and state governments including tax payers and other stakeholders.
An advance payment is that part of a contractually due that is paid in advance for goods or services. Under the current article we would look into the provisions affecting the advance payment under Goods and Service Tax (GST) like the time of supply, receipt voucher, refund voucher, applicable exemption and reflection of advance payment […]
What is the need for the Place of Supply of Goods and Services under GST? The basic principle of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may at the point of consumption. So place of supply provision determines the place i.e. taxable jurisdiction where the tax should reach.
