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...
GST Input Tax Credit Set off against output liablity.
E-way bill under GST is an electronic way bill for movement of goods which can be generated on the GSTN. E-Way Bill under GST is mandatory for the ‘movement’ of goods of more than Rs 50,000 from 1st Feb 2018.
We are in GST regime wherein the credit should be availed for reduction in cost and compliance should be made on timely basis. If compliance is not in place then we might end in paying hefty amount. After TRAN 1, we need to file TRAN 2 for credit on Ad hoc basis
S.Maheswaran B.Sc., B.L., Superintendent of Central Tax and Central Excise As the portal GSTN is not ready so manual filing of GST Refunds has been enabled vide inserting rule 97A in CGST Rules 2017 vide Notfn No. 55/2017 CT dt15.11.2017. The following types of GST Refunds are covered under manual filing viz., GST Refund of […]
Under transitional provisions, benefits of credit of eligible duties and taxes in respect of inputs held in stock, inputs contained in semi-finished and finished goods held in stock as on appointed day can be availed. This article talks specifically about proviso to section 140(3) of CGST Act, 2017 which is commonly known as 60%/40% scheme.
This Act may be called the Goods and Services Tax (Compensation to States) Amendment Act, 2017. (2) It shall be deemed to have come into force on the 2nd day of September, 2017.
As known to all, GSTIN (Goods and Services Tax Identification Number) is a 15 digit ID. Knowing the structure of the GSTIN is important for a business for the following reasons:
f Bitcoin is declared as Legal Currency then we will not be required to pay GST on Sale and Purchase of Bitcoin Currency. Because as Per Section 2(52) of CGST Act, Goods means every kind of movable Property other than Money and Securities.
Can a manufacturer who was not registered in excise take credit of goods on which he doesn’t have duty paying documents i.e. Can he take deemed transitional credit?
Question and answers in GSTR 1 filing in GST portal – how to understand it and what are the added features in return utilities on GST Portal that would bring relief for tax payers :
