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 : The case examines whether stranded compensation cess credit due to GST reform must be refunded or lapsed, impacting working capita...
Goods and Services Tax : This explains the constitutional boundary between property tax and GST on land-related activities. The key takeaway is that owners...
Goods and Services Tax : This compares opposing judicial views on GST notifications extending time limits. The key takeaway is that validity depends on for...
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 : 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...
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 […]
INTRODUCTION 1. What is the real scope of FORM GSTR–9C ? This is a million dollar question. This is because the views on the issue are clearly divided amongst the professionals. On one side the said Form is viewed as a mere number crunching exercise. On the other side it is viewed as a full-fledged […]
Two kinds of credit notes can be issued by a supplier. One is the tax credit note wherein the tax amount reflected on the credit note is sought as an adjustment in the output tax liability. In other words, the output tax liability is sought to be reduced by issuing such tax credit note.
FREQUENTLY ASKED QUESTIONS (FAQs) ON GOODS AND SERVICES TAX (GST)-3rd Edition: 15th December, 2018- (Note: Changes announced in GST Council meeting held on 22nd December, 2018 are being incorporated and the updated edition will be uploaded shortly)
An applicant can seek an advance ruling in relation to supply of goods or services or both undertaken or proposed to be undertaken by the applicant. Further, as per Section 103 (1) of the APGST Act such an Advance Ruling is binding only on the applicant and on the Officer Concerned or the jurisdictional Officer in respect of the applicant.
GST being a Destination based tax regime, will benefit the Destination state or in bare act terms we can say the state having place of supply. The four major issues in the earlier tax regime became the four pillar of the GST tax regime which were- Multiple taxes, multiple procedures, cascading effect & double taxation.
It is also revealed that the reduction in discount doesn’t amount to profiteering as the same was offered from his profit margin by the Respondent and doesn’t not form part of the base price and therefore, the Respondent cannot be held guilty under Section 171 of the Act.
