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...
In re M/s. R. Vidyasagar Rao Constructions (GST AAAR Telangana) Broad category of Goods Transport services are classified with a 4-digit Code as Heading 9965. Under the said classification, ‘Land Transport services’ is a sub-classification with 5-digit Code i.e, Group 99651. The said sub-classification is further divided into four categories of services, each with a six-digit Service Code (Tariff). […]
Input tax credit is the mechanism in which the supplier paid the tax on purchasing the raw material, packaging material etc and paid tax on it. The input of purchasing is to be credited while calculating output tax at the time of sale. Input Tax credit is the backbone of GST & is one of the most important reasons for the introduction of GST.
he official Gazette published have the amendments in relation to –Definition of supply, Input Tax credit, Refund, Registration, Issuance of debit/credit note, Cross utilization of credit, also amendments to schedules under CGST Act have been made.
Articles discusses Amendment in Central Goods and Services Tax Act, 2017 vide Central Goods and Services Tax (Amendment) Act, 2018 Amendment of section 7 of Central Goods and Services Tax Act, 2017 All forms of Supply of goods or services or both will be for consideration AND Furtherance of Business “(1A) where certain activities or transactions […]
Hello friends, greetings for the day in the current article we will discuss about GST Related Tax Provisions as applicable in case of non residents taxable person.
Goods and Service Tax (GST) in simple terms can be said to be an indirect tax, levied in India, on the supply of goods or services or both. Goods and Service Tax has been made applicable in India from 1st July, 2017 and the same has replaced various cascading taxes levied by the Central and State Government in India.
Goods and service tax has been made effective from 1st July 2017. On applying for registration under Goods and Service Tax, a registered taxpayer will be allotted 15 digits unique code which is known as GSTIN. Full form of GSTIN is Goods and Service Tax Identification Number. The present article highlights the structural format / parts of GSTIN.
Let’s understand the amendments made in the CGST and IGST Act by way of CGST & IGST Amendment Act 2018 assented to by the President on 30.08.2018. A conversation between CFO and Indirect Tax Manager to discuss the amendments. Mr. Vinit, CFO of M/s Classic Care Limited a pharmaceutical company asked Mr. Vivek working as […]
Rule of Lapse & September Rush A New Jargon For ITC Seekers Under GST Law- Union Budget is based on the Principle of Annuality’ i.e Parliament grants money to the Government of India for one financial year. If Grants are not utilised by the end of the financial year, the unutilised grants shall expire and restored to the Consolidated Fund of India. This practice is known as ‘Rule of lapse’.
CMA Krishna N. Chaubey The simple meaning of ITC (Input Tax Credit) is reduce your tax liability at the time of paying tax on supply or services but as prescribed in Central Good and Service Tax Act, 2017’ every registered person shall, subject to such conditions and restrictions as may be prescribed in the manner […]
