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...
From a perusal of the said certificate, we find from that recipient is a public funded institution and Notification No. 47/2017 is applicable in respect of supplies made to them but only goods specified in the column no. (3) of the table in the Notification are liable for concessional rate of tax @ 5%. Thus goods other than those mentioned in the said Notification are not to be liable for concessional rate of 5% tax, except the goods having originally been held as a 5% in the schedule entries.
In re E-Square Leisure Pvt Ltd. (GST AAR Maharashtra) IN this case applicant, for leasing of commercial property has, in addition to rent, also collected interest free deposit from their lessee which is returnable on the completion of the tenure of the lease. Since the entire amount is to be returned back to their lessee, […]
We find that ‘LED Lights or Fixtures including LED Lamps’ are covered under the Sub-Heading 9405 40 90 of the GST Tariff, 2017 which are taxable @ 12% (6% each of CGST and SGST).
In re E-Square Leisure Pvt Ltd (GST AAR Maharashtra) Question :- Whether GST is levied on the reimbursement of expenses from the lessee by the lessor at actuals? Answer :- Answered is in affirmative. Question :- In case GST is levied, what is the rate of GST applicable to said reimbursement of expenses ? Answer […]
जिस समय भारत में जीएसटी लगाया गया था उस समय भी यही बताया गया था कि जीएसटी की प्रक्रियाएं जिस प्रकार से कठिन से कठिन बनाई जा रही है और व्यापार एवं उध्योग के लिए इन्हें पूरा करना आसान नहीं होगा . इसका एक बहुत बड़ा कारण था कि जीएसटी भारत में लाया तो एक बहुत अच्छे उद्देश्य से था लेकिन इसे जिन लोगों ने प्रारम्भ में बनाया उनका एक ही ख्याल था कि जीएसटी में कर की चोरी किस तरह से रोकी जाये और इसी एक मात्र उद्देश्य ने जीएसटी की सरलीकरण की राह में बहुत बड़ी बाधा खड़ी कर दी जो कि जीएसटी का मुख्य उद्देश्य था और इस सख्ती ने आज हालात यहाँ तक पहुचा दिए है कि अब ये सवाल पूंछा जा रहा है कि क्या अब भी जीएसटी को बचाया जा सकता है ?
जीएसटी कौंसिल की 31वीं मीटिंग जो 22 दिसम्बर 2019 को हुई है इससे आम करदाता एवं कर विशेषज्ञों को बहुत अधिक उम्मीद थी . आइये एकबार देखें कि क्या ये उम्मीदें पूरी हुई या फिर से उन्हें निराश होना पडा. आइये देखें कहाँ तक करदाता की उम्मीदें पूरी हुई है और जहां नहीं हो पाई उनमें आगे क्या उम्मीद है और जहाँ नहीं हुई है वहां सरकार की क्या मजबूरियां थी .
Exporters who claim Refund of IGST paid on Export of Inverted Rated Goods, are being denied Refund of accumulated ITC of Inverted Rated Goods. Article seeks to highlight the provisions of GST Act in case of Exporters who Export inverted rated goods
A GST accounting software is a class of computer programs that enable you to manage your business’s financial transactions. Such programs can vary widely in scope, with some programs designed for little more than simple bookkeeping and some designed to manage the entire financial comings and goings of large businesses.
♦ What is Works Contract under GST ? A contract of works, may relate to both immovable and immovable property. E.g. if a contractor, takes a contract for the building work, it would be a works contract in relation to immovable property. Similarly, if a composite supply in relation to movable property such as fabrication/painting/annual maintenance […]
1. The provision in the Central GST Act – Section 171, mandates that benefits arising due to either lower tax rates or more tax credits being available in the GST regime should be passed on to the consumer by way of commensurate reduction in prices. Let us understand anti profiteering with an example… 2. Reduction […]
