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...
Job-workers are playing a major part in Indian economy due to involvement in the processing of input or unfinished goods. GST makes the Principal Manufacturer (the owner of the goods) to take care about compliance on behalf of the job-worker, considering the fact that Job-work is often a MSME sector and the same not able to comply with the structure of tax.
Article deals with Late fees payable for delayed Filing of Form GSTR-3B and Form GSTR-1 by Taxpayer having no outward supply or those who are required to file Nil Return and For Taxpayer who have liability of GST Payment. Article also explains Rate of Interest payable for delayed Payment of GST.
The Center Government vide its notification No. 15/2018, dated 23.03.2018, appoints the 1st day of April 2018, as the date from which the provisions of sub-rules (ii) (other than clause (7), requirement of consolidated e-way bill if the aggregate consignment value exceeded Rs. 50,000 by the transporter)
The introduction of GST was much awaited among the businesses, authorities and consultants for being a simple and reformed indirect tax legislation. However, even after more than 9 months since its introduction, the export business is still suffering due to uncertainties around the provisions.
1. Due Dates for Filing of Form GSTR-3B for the Month of March 2018, April 2018, May 2018 and June 2018 2. Due Dates for Monthly Filing of FORM GSTR-1 for the Month of February 2018, March 2018, April 2018, May 2018 and June 2018 where turnover in preceding financial year is above Rs. 1.5 crores
As per Circular No. 38/12/2018 issued as on dated 26-03-2018 in that mention Procedures to be followed for sending goods for job work and the related compliance requirements for the principal and the job worker.
E-way Bill is a document to be generated electronically before the movement of goods both for Intra State (within State) and inter-state (from one state to another) supply having value more than Rs. 50,000/-. The purpose of the e-way bill is to eradicate the tax evasion and to ensure the ease of doing business by avoiding the wastage of time at the check posts.
It is notified that no e-Way Bill will be required to be generated in Punjab for a period of two months from 1st April, 2018 for movement of goods in connection with intraState supply provided such goods do not cross the State boundary during transit.
In order to facilitate the sanction of refunds, the Central Board of Excise and Customs (CBEC) has decided to extend the Refund Fortnight and keep open all the Customs field formations on 29.03.2018, 30.03.2018 and 31.03.2018 even though these are holidays/ non-working days. Necessary administrative instructions have been issued in this regard.
Before the introduction of GST regime, transporters were required to carry waybill for facilitating the supply of goods. Since the documents were physical and were obtained from the VAT authorities, the compliance requirements around the waybills were very complicated and thus acted as a hindrance in the transportation of goods across the states.
