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...
Telcos are required to re-work their costing and credits availability and re-jig their prices and ensure that the increased availability of credits is passed on to the customers by lowering their costs.
Mizoram GST Act 2017 received the assent of the Governor of Mizoram on the 26th May, 2017. It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint:
With all Central legislations in place and only State level ratifications pending, the stage is set for GST implementation. The 1 July 2017 target also seems realistic given that the major hurdles have been crossed.
Free supplies would be liable to excise duty, while under the VAT laws, free supplies would require reversal of input tax credit; Under the GST law, the treatment would be similar to the present VAT laws, where the supplies are made without any consideration (monetary/ otherwise).
Submission of details of transaction that the business was indulged in for a given period , in prescribed period can be termed as ‘Return’. It can also be described as periodic statement of transactions carried out by organization. Every Act has certain returns prescribed which has to be filed with certain departments / authorities etc. Even before GST , if we take service tax law there was ST-3 return which was filed half – yearly and due date was within 25 days from the end of half year. We now proceed further for understanding returns under GST.
All forms of supply of goods and/ or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.
Provisions related to GST for import of service from related person is very harsh as it will cover all the transactions even if consideration is not involved. Valuation will be a major problem for such cases and it may lead to litigations also.
Carry forwarding of existing ITC of the stock held on the appointed day is the first basic step that a business house needs to look into for a smooth transition into the GST regime. As the clock is ticking understanding the Transition Provisions and their implementation thereon is of the prime importance.
I would request all zones to ensure a step up of outreach programmes on GST in close coordination with the State officers, continued stress on updating of officers and staff with changes in rules and continued familiarity with the GST laws.
Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less;
