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 denial of ITC to bona fide buyers based solely on supplier tagging and analytics. The key takeaway is that mech...
Goods and Services Tax : The issue was whether GST demand can exceed the show cause notice. The court held that such expansion violates Section 75(7) and m...
Goods and Services Tax : The issue was whether buyers can claim ITC when suppliers default on tax payment. The court upheld denial, emphasizing ITC is cond...
Goods and Services Tax : The article explains when GSTAT appeals are maintainable and outlines key filing conditions. It highlights timelines, pre-deposit ...
Goods and Services Tax : The central issue was whether incomplete notices satisfy legal requirements. The Court ruled that mere reproduction of statutory l...
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 issue was whether arbitral award damages and settlement terms constitute “supply” under GST law. The Court held they do no...
Goods and Services Tax : The authority held that arranging transport for employees is a welfare activity, not a business supply. Nominal recovery from empl...
Goods and Services Tax : The issue concerned GST liability on electricity supplied through a solar power plant. The AAR held that electrical energy is exem...
Goods and Services Tax : The issue involved classification of a fan drive assembly used in vehicle cooling systems. The AAR held that the product operates ...
Goods and Services Tax : The issue was whether taxpayers could choose between concessional and standard GST rates. The AAR held that once classified as out...
Goods and Services Tax : CBIC has amended Notification No. 9/2025-Union Territory Tax (Rate) to revise tariff entries under UTGST schedules from May 1, 202...
Goods and Services Tax : CBIC has amended Notification No. 9/2025-Integrated Tax (Rate) to revise tariff entries under IGST schedules in line with Finance ...
Goods and Services Tax : CBIC has amended Notification No. 9/2025-Central Tax (Rate) to revise tariff entries in GST schedules in line with Finance Act, 20...
Goods and Services Tax : The data highlights a sharp increase in GST collections driven by import-related IGST. It confirms strong revenue performance and ...
Goods and Services Tax : This case highlights how delays in filing appeals against adverse GST orders weaken the department’s legal position. It undersco...
In view of the long gestation period and showing negative returns, industry body ASSOCHAM has suggested that infrastructure and transportation such as road and railway sectors should continue to be exempted under Goods and Services Tax (GST) regime.
In exercise of powers conferred by section 164 of Jharkhand Goods and Services Tax Act, 2017 (Act No. 11 of 2017), State Government hereby makes Jharkhand Goods and Services Tax Rules, 2017
Manufacturer/ Service Provider/Trader whose annual turnover is below Rs, 20 Lakh* need not pay any GST and need not register. Those with annual turnover up to Rs. 75 lakh can opt for composition scheme in which case the tax rates will be as follows:-
Section 171 of the CGST Act says that any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit (ITC) shall be passed on to the recipient by way of commensurate reduction in prices.
Lending is always to good borrowers but often the good borrowers become bad borrowers. Thus, the business of lending brings with it the trouble of enforcement of security interests as well. The repossession of the collateral asset and eventual sale for recovery of the losses due to default are a common phenomenon in lending business. This article deals with the GST implications for sale of repossessed assets.
Agenda of meeting: – The Union Minister for Finance, Shri Arun Jaitley will chair the17th Meeting of the GST Council scheduled to be held on June 18,2017 at Vigyan Bhavan, New Delhi .Main agenda items of the 17th GST Council Meeting include
(i) Section 2: Definitions:- Section 2(41)-electronic commerce means supply of goods and/or services including digital products over digital or electronic network. Section 2(42)-electronic commerce operator means any person who owns, operates or manages digital or electronic facility or platform for electronic commerce.
Every registered person who causes movement of goods of consignment value exceeding fifty thousand rupees – (i) In relation to supply of goods; or (ii) For reasons other than supply; or (iii) Due to inward supply from an unregistered person, Shall, before commencement of movement, furnish information relating to the said goods in Part A of Form GST INS – 01, electronically on the common portal and
Transition of Registration: Any dealer who is registered under Stale VAT, Central Excise, Service tax etc having a valid PAN shall he given provisional registration., Dealers who have been given provisional registration would he given final registration on submission of prescribed documents.
Chapter XII of the CGST ACT covers all the provisions related to assessment In term of Section 2 (11) of the CGST “Assessment” means determining the tax liability under GST Act. Assessment simply means calculation of the tax liability. It is integrating part of the GST as without assessment it is very much difficult to determine tax liability of a taxable person.
