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...
Every registered person shall keep and maintain a true and correct accounts & records at his principal place of business for a period of seventy-two months from the due date of furnishing of annual return for the year pertaining to such accounts and records.
Goods and services Tax, the most awaited and crucial tax reform (business reform rather) is going to take place in Indian business environment form 01st July 2017 onwards. 04 important GST bills have already received precedential nod, 09 rules have been finalised by GST council, 12 states have passed SGST Bill, rates for goods and services already proposed by GST council and reverse charge in respect of services proposed by GST council, so with all these developments GST is all set to get implemented and replace most of the existing indirect taxes levy.
In Good and Service Tax, there are so many tasks that are to be done online and these works include Filing of various Returns and Statements, Depositing the Tax etc and for these purposes the Taxable persons can take service of Goods and Service Tax Practitioners (GSTP) by authorising them to do certain statutory works.
1. The liability to pay tax shall arise only at the time of supply of goods. Earliest of the following shall be the time of supply √ Date of issue of invoice or the last date of issue of invoice u/s 31[1] √ At the time of receipt of payment.
Ledger Involved in GST Payment 1. Electronic Tax Liability Register- GST payable will be maintained in this register. 2. Electronic Credit Ledger- GST input available will be recorded in this ledger like-Purchase of goods & Services. 3. Electronic Cash Ledger- GST paid in Cash will be recorded in this ledger i.e. Liability- Input= Payable.
Governor is pleased to order the publication of the following English translation of ‘the Uttarakhand Goods and Services Tax Bill 2017
Waybill compliance has been a nightmare for suppliers in the pre- GST era. Supply of goods cannot take place without obtaining these ‘waybills’ from VAT authorities. Waybill is nothing but a physical document that allows movement of goods. The compliance around waybills has caused restricted movement of goods across states. And this is one anomaly we hope GST will rectify.
Though the Government is claiming that GST is going to benefit the business and industry but on deep analysis of existing negative/mega exempt services and proposed exempt services (as announced by GST Council), it is revealed that construction/infrastructure sector is going to be negatively affected under the new dispensation.
In other words, Job work is the processing or working on goods supplied by another person/ entity to complete a part or whole of the process. Job work can be undertaken for the initial process, assembly, packing or any other completion process or complete manufacturing.
The Goa Goods and Services Tax Act, 2017 (Goa Act 4 of 2017), which has been passed by the Legislative Assembly of Goa on 9-5-2017 and assented to by the Governor of Goa on 23-5-2017, is hereby published for general information of the public.
