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 : ECGC payouts in INR do not qualify as export proceeds under GST and FEMA laws. Exporters must secure AD bank write-offs to avoid r...
Goods and Services Tax : The issue was whether unregistered individuals could exercise appellate rights. The Court held that procedural hurdles like absenc...
Goods and Services Tax : The issue was denial of ITC transfer due to different State registrations of entities. The Court ruled that no such restriction ex...
Goods and Services Tax : The issue was delays and inconsistencies in GST fund settlement under the earlier framework. The new rules introduce a fully autom...
Goods and Services Tax : The issue was taxation of intermediary services as domestic supply. The law now treats such services as exports, allowing zero-rat...
Goods and Services Tax : CBI arrested GST officials for demanding a bribe to facilitate registration approval. The case highlights strict enforcement again...
Goods and Services Tax : The CBI arrested a CGST Assistant Commissioner for demanding a bribe to halt GST proceedings. The officer was caught red-handed ac...
Goods and Services Tax : The Government reduced GST on paper sacks and bags from 18% to 5% following GST Council recommendations. The move addresses farmer...
CA, CS, CMA : ICAI has recommended mandatory verification of the Certificate of Practice for Chartered Accountants appearing before GSTAT to ens...
Goods and Services Tax : The Government introduced reforms such as e-invoicing and auto-population of data in GST returns. These measures improve accuracy,...
Goods and Services Tax : The Court held that GSTIN cannot be cancelled solely based on supplier irregularities without examining the taxpayer’s transacti...
Corporate Law : The Court held that input tax credit claimed on invoices from non-existent dealers justified penalty under VAT law. It reaffirmed ...
Goods and Services Tax : The Court set aside a show cause notice that combined several financial years into one proceeding. It held that each assessment ye...
Goods and Services Tax : The Court held that each financial year creates a separate cause of action, making a consolidated notice legally unsustainable. It...
Goods and Services Tax : The ruling found that issuing a single notice for multiple tax years violates statutory requirements. The Court quashed the notice...
Goods and Services Tax : GSTN has enabled editing of the pre-deposit percentage in APL-01 filings. The change allows taxpayers flexibility, while verificat...
Goods and Services Tax : Taxpayers faced issues filing appeals where adjudication orders showed zero demand. GSTN clarified that such system limitations re...
Goods and Services Tax : Both domestic and import revenues contributed to GST growth, alongside increased refunds. The figures highlight improved tax admin...
Goods and Services Tax : The government introduced new rules replacing the 2017 framework to streamline IGST settlement between Centre and States. The rule...
Goods and Services Tax : Maharashtra Government has extended the time limit to file appeals before the Appellate Tribunal for orders communicated before Ap...
The passage of the Goods and Services Tax Bill in August has been an important sign that Prime Minister Modi will justify some of his claims of making India an easier place to do business in and trade with, which has improved sentiment.
To remove apprehensions among the officers as well as Trade and industry in relation to the introduction of GST levy and to create positive atmosphere and approach and to inform the Trade for better understanding of GST, a GST cell has been formed in Central Excise, Pune-IV Commissionerate.
GST Council is yet to decide on GST rate structure. Since, the last meeting which concluded on 19th October,2016 could not result a consensus amongst states on various reasons.
The three day meeting of GST Council scheduled from 18th to 20th October, 2016 ended in two days only with a resolve to meet again on 3-4 November and then on 9-10 November, 2016 to discuss rate stricture and draft GST law respectively. The winter session of Parliament has already been convened from 16th November, 2016.
Mission Zero has been launched there with the objective of sharply reducing the pendency of adjudications, refunds, rebates and drawback in a time bound manner. These items of work were picked as they most directly impact the ease of doing business.
Union Government has finally unveiled the Model Goods and Service Tax Law (MGL) for comments from Public and interested parties on 14th of June, 2016. It is single most important tax reform since 1947 and has been subject to so many restraints and hesitation from state governments over the loss of power to levy and collect indirect taxes and also the concerns over the loss of tax revenue for the state.
Now that the new tax revolution in the from of Implementation of Goods and Services Tax is going to occupy prime time space from April 2017 (not that it is not being trumpted now), the officers feel neglected not (only) because they were not consulted but because they were not taken into confidence all through while coming out with the law.
GST is a destination based consumption tax which is a major departure from existing origin based taxation system. Under destination based taxation system broadly tax will accrue to the location/state which is determined as place of supply under GST.
Location of recipient of service’ means: (i) where a supply is received at a place of business for which registration has been obtained, the location of such place of business; (ii) where a supply is received at a place other than the place of business for which registration has been obtained, that is to say, a fixed establishment elsewhere, the location of such fixed establishment;
During last 5 decades law relating to works contract is driven more by judicial pronouncements & GST is opportunity for legislature to end uncertainty.
