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...
In re Cummins India Limited (GST AAR Maharashtra) Since the supply of maintenance service in the present case is for a single price with supply of spare parts/goods as and when required, the supply of both, goods and services are made in conjunction with each other in the ordinary course of business and therefore considering […]
Challenging the deemed value of land shall be far more difficult than what it seems. It shall be better if an alternate structure is adopted for transfer of land (e.g. separation of land owner and developer) to keep the fair value of land outside the ambit of GST.
A. CBIC, vide Notification No. 39/2018- Central Tax dtd. 4th September, 2018 has notified the Form of Annual Return. GSTR 9 is to be filed once in a year by the registered taxpayers, including persons registered under composition levy scheme, under Section 44 of the CGST Act, 2017. B. It consists of details regarding the […]
Section 65 – GST Audit by tax Authority (1) Authority Commissioner or any officer authorised by him (2) At place of business of the registered person or at their office (3) 15 working days prior notice (4) Audit shall be completed within a period of three months from the date of commencement of the audit […]
GSTN has started sharing data with tax authorities on the following: a.Mis-match between figures reported in GSTR-1 & GSTR-3B. b.Mis-match between figures reported GSTR-3B &that computed by the system in GSTR-2A. c.Taxpayers who have generated e-way bill but not filed tax returns.
In re M/s Blackstone Diesels (AAR Rajasthan) The ‘Air Dryer complete with final filter for used in breaking system of locomotive’ has been rightly classified by the supplier under Chapter 8421 of GST Tariff Act 2017 which attracts GST @18% (CGST 9% + SGST 9% ). FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, RAJASTHAN […]
In re M/s Sam Overseas (GST AAR Uttarakhand) Classification and applicability of GST rate on the ‘Rejected Wheat Seed’ and ‘Rejected Paddy Seed’. Due to different views of members matter been referred to Appellate Authority hearing and decision on said issue in terms of Section 98(5) of the Act ibid which provide that where the […]
Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same.
We refer to the Form GSTR 9C Reconciliation statement & Certification notified vide Notification No. 49/2018- Central Tax dated 13th September, 2018. In this regard, we consider it a privilege to submit herewith ICAI’s suggestions thereon. The suggestions have been finalized based on the inputs received from members across India who are involved in GST implementation. We hope that these suggestions would also be considered favorably.
Section 15(2)(e):- Value of Supply shall include subsidies directly linked to the price excluding subsidies provided by the Central Government and State Governments. An Incentive is something that motivates an individual to perform an action. The study of incentive structures is central to study of all economic activities (both in terms of individual decision making […]
