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...
GSTN Portal have enabled Direct Downloading of Excel sheet for easy reconciliation with books and return but Have not Formatted Correctly SO This article will provide you how to download and Correctly format for row wise entries of Invoices without Any Blanks
Central Government has introduced 4 GST amendment bills in Lok Sabha on Eighth August 2018 which are 1. CGST (Amendment) Bill 2018 2. IGST (Amendment) Bill 2018 3. UTGST (Amendment) Bill 2018 and 4. GST (Compensation to States) Amendment Bill 2018. Key highlights of the Central Goods and Services Tax (Amendment) Bill 2018 1. Scope of Supply […]
The Goods and Service Tax regime has brought in many changes such as monthly payment of taxes, increase in a number of return and other compliances which a small taxpayer will difficult to comply with.
Taxability of Transfer Development Rights (TDR) a) Transfer of land development rights by the landowner to the builder/ developer: TDRs being a benefit arising from the land, thus the same shall be considered as a benefit arising out of an immovable property as defined under Section 3(26) of General Clause Act, 1987
As per Sec 19(1) of CGST Act principal shall claim input tax credit on input sent to job worker for job work subject to certain conditions and restriction provided in rule 45 of CGST Rules.
In the absence of any past precedent, it shall be difficult to compare the GST revenue collection with the corresponding months of the previous years due to a number of factors like overlap of taxpayers pre and post introduction of GST, variation in exemption limits between Centre and States and among States and mechanism of apportionment of fund under IGST.
Government has compensated to the States/UTs for the reported revenue deficit on account of implementation of Goods and Services Tax (GST). As per provisions in Section 7 of the GST (Compensation to States) Act, 2017 loss of revenue to the States on account of implementation of Goods and Services Tax shall be payable during transition […]
The Central Government via Notification No 32/2018, 33/2018, 34/2018 Central Tax notified the due date for GSTR-3B, GSTR-1 { For turnover more than and upto Rs. 1.5 Crores } from July, 2018 to March, 2019 are mentioned below: 1. FORM GSTR-3B of the said rules for each of the months from July, 2018 to March, […]
Steps taken by the Government to increase awareness about the features of Goods and Services Tax (GST) are as follows: i. conducting workshops and seminars regularly across the country, ii. posting of laws, rules, notifications and other information on the departmental website, iii. placing of Frequently Asked Questions (FAQs) and topic-wise and sector-wise informational brochures […]
Comparison of data in FORM GSTR-1 and FORM GSTR-3B is being done by GSTN for tax liability analysis. Reports based on such analysis are being shared with tax authorities for taking necessary action.
