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...
Under which circumstances can a registered Taxpayer file for cancellation of GST registration? A registered Taxpayer can file for cancellation of GST registration on the occurrence of any of the following events: Discontinuance of business or closure of business. Taxable person ceases to be liable to pay tax. Transfer of business on account of amalgamation, […]
ICAI has come up with an FAQ on E-way Bill under GST in which it discussed 100 Practical issues and possible solutions on E – way bills under GST. In this FAQ ICAI has considered almost all the issues which we will face in E- Way Bill System and Solutions for the same. Direct Link […]
E-way bill is a new concept under GST system for movement of goods across the country. It will be effective from 01st February 2018 all over the country.
A preliminary analysis of the Goods and Services Tax (GST) data reveals that there has been a 50% increase in the number of indirect taxpayers, besides a large increase in voluntary registrations, especially by small enterprises that buy from large enterprises and want to avail themselves of Input Tax Credits (ITC).
As an information repository, the Goods and Services Tax (GST) embodies and heralds a radical alteration and enlargement in the understanding of the Indian economy.
The GST was unveiled after comprehensive preparations, calculations and multi-stage consultations, yet the sheer magnitude of change meant that it needed to be carefully managed. The Government is navigating the change and challenges, including the possibili
Composition scheme under the law is for small businesses. This is to bring relief to small businesses so that they need not be burdened with the compliance provisions under the law.
The e-way bill once generated cannot be edited or modified. In such a situation, e-way bill generated with wrong information has to be cancelled and generated afresh again. The cancellation is required to be done within twenty-four hours from the time of generation.
Generally goods are moved through transport, so Goods Transport Agency (GTA) will affect most from E way Bill (EWB) introduction with effect from 1st February 2018.
The E way bill has to generated online through the website ewaybill.nic.in after a following a simple one -time registration procedure. The details required for generating E-way Bill are very basics like Vehicle No., distance and item carrying along with the recipient details and are required to be generated by a registered person supplying goods or receiving goods from an unregistered person.
