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...
The total gross GST revenue collected in the month of November, 2018 is Rs. 97,637 crore of which CGST is Rs. 16,812 crore, SGST is Rs. 23,070 crore, IGST is Rs. 49,726 crore (including Rs. 24,133 crore collected on imports) and Cess is Rs. 8,031 crore (including Rs. 842crore collected on imports).
Determination Of Applicability Of Chapter Heading (CH) 7318 Or 8714 On Metal Parts Used In Automotive Sector On The Basis Of General Use Or Specific Use INTRODUCTION: Goods made of iron or steel are generally covered under Chapter Heading 73 while same goods made of iron or steel may be classified under Chapter Heading 87 […]
Annual return (Section 44) The government has notified an annual return under GSTR 9 form to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST […]
There has been relief from enumerable and cumbersome indirect taxes like VAT, Excise, service tax, tolls and many more. This has also brought double taxation effect down to zero, reduced rate of taxes resulting in reduced prices of goods and services, much more transparency and more. But when talking about the other side of the coin, some issues have been raised frequently by not just common people but also professionals and authorities. These are few of the extremely pertinent requisites must be brought to the knowledge of GST Council as well as the Think-Tank which is very efficiently and dedicatedly developing and implementing GST in the country, so that some suitable solution could be urgently implemented.
Indirect Taxes Updates GST, Customs, Excise, Service Tax & VAT – Month – November 2018 A. Amendment in Goods & Services Tax for the Month of November 2018 ♦ CBIC extended due date for filing Form GSTR-7 till 31st January 2019 CBIC has extended time limit for furnishing return by a registered person required to […]
A reconciliation statement also known as the GST audit report in FORM GSTR 9C is to be submitted in case the GST audit provisions are applicable to the registered person.
In case the Nodal Officer decides to undertake the Audit, then he/she shall issue a notice in FORM-GST-ADT-01. Depending upon the record to be verified he/she may decide whether the Audit is to be carried out at the business premises of the tax payer or at the office concerned. The place at which the Audit is to be carried out shall be expressly stated in the said Notice.
There is sufficient cause and need for the extension of filing of Annual Forms GSTR-9, 9A, 9B and 9C for a reasonable period of time to give justice to the correctness of returns considering the need for reconciliations state-wise.
Internationally, GST was first introduced in France and now more than 160 countries have introduced GST. The Various countries have , depending upon their requirements and suitability introduced National level GST or Dual GST.
When the goods are dispatched through vehicles, Delivery to transporter by supplier is sufficient to take input tax credit. The expression “any other person “and the expression “otherwise” implies “the person on the behalf of recipient i.e. Transporter” and “by way of transportation contact “respectively. Section 39(1) of Sale of Goods Act also states that delivery of goods to carrier is prima facie delivery to buyer. As per section 23(2) of Sale of Goods Act, if, in pursuance of the contract, the seller delivers the goods to the buyer or to a carrier or other bailee, for the purpose of transmission to the buyer, and does not reserve the right of disposal, he is deemed to have unconditionally appropriated the goods to the contract. It does not make difference whether the bailee or buyer was named by buyer or not.
