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...
Government is trying hard to implement GST with effect from 1st of July 2017, so the time has come to pull up your socks and keep yourselves ready to handle this transitional phase of the biggest tax reform in India. For the smooth transition from the existing structure of Indirect taxes into the new GST regime, both businessmen and the consultants have to give their best efforts in terms of time and knowledge.
Some of the noticeable provisions on NBFCs under GST are as under:- 1. Services provided are taxable at 18% GST Rate (Earlier 15% Service Tax). 2. Need to obtain State wise Registration where they have branches (Earlier Centralised Registration). 3. Inter-State supplies of services between branches of same entity will also attract IGST 4. 37 […]
Conditions for availing Composition Scheme- Aggregate turnover of the registered person during the preceding financial year should not exceed Rs. 50 Lakhs in a year. [Section 10(1)].
GST at your doorstep; are you ready to open the door? Join most Intensive Online Certification Course on GST organised jointly by GST Professionals and TaxGuru.in across India to give a simplified and comprehensive understanding of the GST law. Just 2 classes a week on weekends, 2.5 hrs each for 2 months, 40 hrs detailed […]
All Central Excise & Service Tax Assessees Who are yet to enroll In GST, can do it now. Enrollment re-opens for limited period on 1st June, 2017 Please enroll in GST immediately Duty/ Tax credits under existing laws cannot be carried forward in GST unless you enroll, In GST Portal (www.gst.gov.in) TO enroll, please use […]
Analysis of proposed GST Rates Vs existing rates is going on by different trades and industry. There may be little variation in different states due to difference in VAT rates. GST rates are yet to be notified and may undergo changes, before the notification is issued. However, a general comparison is as under:
Through GTA (Specific goods like agricultural produce, relief materials, defence or military equipments, milk, salt etc. (Exempt)) Other than above through GTA (5% – No ITC)
Since the all new GST (a biggest tax reform) is going to roll out soon, there are various questions floating in our minds, the most important among them is how to determine value of supply under GST? What is to be included in the value of taxable supply on which the GST will be calculated? […]
Articles gives details of Tax Invoice, Credit and Debit Notes under GST to be issued and Time limit within which such documents shall be issued
The Goods and Service tax is going to the single biggest reform in Indirect Taxes of Independent India. It is going to radically change the way business is done in the country and is going to have a far reaching impact on our economy. The parliament has already cleared the Central Goods and Service Tax Bill among three others on 6th April 2017 thus given it the status of an Act.
