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 covers the special timeline for filing delayed GSTAT appeals due to earlier tribunal non-functionality. The key takeaway...
Goods and Services Tax : The issue highlights illegal confiscation of goods under Section 130 without evidence of tax evasion. The key takeaway is that pen...
Goods and Services Tax : The framework clarifies GST on rental income and management fees but leaves gaps in other areas. The key takeaway is ongoing uncer...
Goods and Services Tax : Courts ruled that denying ITC due to supplier non-payment is unjust when buyers act in good faith. The key takeaway is that bona f...
Goods and Services Tax : The issue is whether interest on GST refunds should start from a fresh application after appeal. Courts have held that interest mu...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims based on fake invoices without actual supply of goods or services. The accused was arr...
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 : The Court examined whether employees could be penalised under Section 122(1A) for company-level GST violations. It held that only ...
Goods and Services Tax : Avanti Feeds Limited Vs Deputy Commissioner of State Tax (Andhra Pradesh High Court) The writ petition before the Andhra Pradesh H...
Goods and Services Tax : High Court held that receipts reflected in Form 26AS cannot automatically be treated as taxable services. Tax liability must first...
Service Tax : The Tribunal held that the margin between purchase and sale of vehicles is trading profit, not commission. Service Tax demand on s...
Goods and Services Tax : The Court held that taxes paid under GST must be reimbursed under contractual terms. The key takeaway is that proof of payment ens...
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...
Representations have been received seeking clarification on whether custom milling of paddy by Rice millers for Civil Supplies Corporation is liable to GST or is exempted under S. No 55 of Notification 12/2017 – Central Tax (Rate) dated 28th June 2017.
Tax policies play an important role on the economy through their impact on both efficiency and equity. A good tax system should keep in view issues of income distribution and, at the same time, also endeavor to generate tax revenues to support government expenditure on public services and infrastructure development.
arlier as per GST law, tax was to be paid on the advances received and it was to be adjusted after the invoice was issued. But now, as per notification issued on 15th November, there is provision that no need to pay GST on the advances received against the supply of goods. Earlier, from 13th October to 15th November, if the aggregate turnover of taxpayer is less than Rs.1.5 Crore, then the GST on advances was not liable to pay.
INTRODUCTION Provisions of refund of taxes under GST are very important as delay would adversely impact exporters, manufacturers and dealers. A delay in refund would cause problem for the exporters/manufacturer in maintaining the working capital and cash flow. Currently there is delay in months in providing the refund to the exporters/manufacturers/dealers Now due to the […]
GST Impact on Coal cost- But one power sector is most beneficial sector after implementation of GST as coal cost which consist of more than 90 % of input cost came down drastically, as there is substantial reduction of tax Post GST, can be understand better from following comparison:
Considering the requests received to extend the permission for some more time it has been extended to display the revised MRP due to implementation of GST by way of stamping or putting sticker or online printing for a further period of three months, i.e. up to 31st December, 2017.
Please Read Clarification at the end of Article by Mcdonald in respect of Below Story. Nowadays Social media is abuzz with a Photo showing two bills of Mcdonald’s Family Restaurant in which Price inclusive of Tax of one of the item sold by it is shown as same on 15th November 2017 i.e. the date […]
Question 1: Is that compulsory to file gstr-1A even there is no corrections and where GSTR 1 already filled? Answer: GSTR-1A is auto-populated from GSTR-2A. Procedure for filing of GSTR-2 and 3 has been kept in abeyance for the time being Special session by GST policy wing’s officers to address queries of all stake holders […]
In this article we are going to see the changes in GST tax rates of Restaurants and impact of the same on our food bills i.e., moreover on our Stomachs. The GST Council in its 23rd Meeting held at Guwahati on 10th of November,2017 recommended key changes in Tax rates and one of the most important one is cutoff in tax rates on Restaurants and CBEC also issued the notifications for the same to give effect to the revised rates from 15th of November,2017.
Chapter I – Preliminary: 1. Whether GST law is applicable in J&K? Yes. CGST and IGST act were made applicable in J&K from 8th July, 2017 through respective ordinances. J&K GST Act was also passed and made applicable from this date (Act is on same lines as other State GST Acts). 2. Whether General Clauses […]
