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...
Dr. Hasmukh Adhia, Revenue Secretary reiterates that the Goods and Services Tax (GST) would be implemented from July 1, 2017; States that GST would help in creating lot of jobs for young generation.
As India progresses towards introduction of GST w.e.f 1 July 2017, with the GST Council releasing the rates on goods and services, taxpayers are gearing up and finalising the GST impact analysis on various facets of their business. One of the key areas which merit consideration is the taxability of services provided to an overseas service recipient (including group companies and subsidiaries).
We, the Marwaris of India, traditionally either traders or (chartered) accountants, are inherently of ‘adjustive’ nature. We adjust well with native people wherever we settle and we are also good in making book adjustments! It is another matter that due our book adjustment skills, demonetization was a cat among us Marwari pigeons! Now, the lion called ‘GST’ has entered our life and our day-to-day conversations.
Presently the SME manufacture has not liable to pay excise up to a turnover of RS 150 Lacks but in GST scenario he has to pay GST where his turnover has exceed the RS 20 lacks. The SME manufacture has face huge completion with the big player of the related market which has already has a reputed share of market demand, and a product who has a brand value.
Declaration of valid GSTIN in Customs documents (BE/SB) would be mandatory w.e.f. 0000 hrs of 01-07-2017, the likely implementation date of GST, to avail IGST credit on Imports or GST refund on exports.
Provisional Ids and Access Token of Phase 5 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal www.mahavat.gov.in, using their login credentials.
GST is a Single tax rate for a product or service in any part of the country (except J&K). The following 17 different indirect taxes will be subsumed under GST
The electronic cash ledger under sub-section (1) of section 49 shall be maintained in FORM GST PMT-05 for each person, liable to pay tax, interest, penalty, late fee or any other amount, on the Common Portal for crediting the amount deposited and debiting the payment there from towards tax, interest, penalty, fee or any other amount.
E- Commerce (electronic commerce or EC) is an online interface business model linking the buyer and seller of goods and services, or the transmitting of funds or data, over an electronic network, internet or online social networks.
This is the right time to discuss the framework of GST as its likely to be a reality with effect from 01 July 2017. GST law is dual tax mechanism where the State and Centre both will be charge the tax.
