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 issue concerns vague GST cancellation notices lacking facts. Courts held that absence of details violates natural justice and ...
Goods and Services Tax : Taxpayers were unable to file appeals when demand orders reflected zero liability despite disputes. The advisory clarifies that re...
CA, CS, CMA : Major rulings and notifications clarified tax treatment, compliance timelines, and financial regulations. The updates emphasize ef...
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 : 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...
A common query many people have in their minds which seems to get more and more complicated as different businesses with different situations think over it. This confusion is none other than the very usual mistake of missing out on taking Input Tax Credit. The problem apparently seems to get worse when this missed ITC is of the previous financial year whose books of accounts are closed, finalized and audited from Income Tax Act and Companies Act point of view.
In terms of Section 44(1) of the CGST Act, 2017, every registered person, other than an Input Service Distributor, a person paying tax under Section 51 (TDS deductor) or Section 52 (TCS collector), a casual taxable person and a non-resident taxable person, shall furnish an Annual Return for every financial year on or before the […]
1. GST Refund of unutilized or accumulated ITC Refund of unutilized or accumulated ITC is allowed only in following two cases: a. Zero rated supplies made without payment of tax Zero rated supply of goods or services or both under bond or Letter of Undertaking. Input procure in respect of such supply is not utilizing […]
Download TCS data in Form GSTR-2A to an Excel file Taxpayers were earlier provided with a facility to download details of Form GSTR-2A in an Excel file. Now they can download data in TCS section also to that Excel file, in a different sheet. GSTR 2A is a purchase-related tax return that is automatically generated […]
Dr. Sanjiv Agarwal, FCA, FCS For the first time, National Anti-Profiteering Authority has held against the real estate company for Anti-profiteering activities in case of sale of flats to buyers. In Sukhbir Rohila v. Pyramid Infratech Pvt. Ltd. (2018) 9 TMI 1107 (NAA); (2018) 97 taxmann.com 379 (NAA), the National Anti-Profiteering Authority vide its order dated […]
The Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) has been enacted with a view to make a provision for levy and collection of tax on intra-State supply of goods or services or both.
As PER CBIC Website For GST Practitioners enrolled after 24.09.2018, one more examination will be held in December 2018, date of which will be announced in due course. Exam syllabus will be taken “as on 01.09.2018” for the purpose of exam scheduled on 31.10.2018 Register for Online GST Certification Course (Limited Seats) GST Practitioners -How […]
In these update we will see new functionalities, which were made available on GST Portal, recently: 1. Refund: Application for Refund can now be filed for multiple tax periods, in following refund cases : √ Export of services with payment of tax with facility to upload Statement 1. √ ITC accumulated due to Inverted tax […]
In the current article we will discuss about interest on delayed payment of tax and we will also discuss interest for any mismatch of claim of input tax credit.
In re M/s. K. K. Polymers (Prop. Advantage Agency Pvt. Ltd.) (GST AAR Rajasthan) The amount passed on to the customer by DCA on account of the early payment before credit period allowed by principal Whether any supply arises in this transaction? The additional bonus passed on by the applicant (DCA) to the customer, is […]
