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...
Being ready with the required IT infrastructure to usher in goods and services tax (GST) is high on the government’s agenda. The Nandan Nilekani-led seven-member Technology Advisory Group for Unique Projects (TAGUP) will meet here for the first time on June 28 to review IT preparedness for the proposed indirect tax regime.
Punjab Planning and Finance Minister Manpreet Singh Badal, has maintained Punjab is ready for implementation of GST by 2011, provided the centre could exclude purchase tax. Manpreet Badal was speaking to media persons on the sidelines of a conference organised for chairpersons and member secretaries (deputy commissioners) of all the District Planning Committees of Punjab.
Empowered Committee of State Finance Ministers Chairman Asim Dasgupta today said the panel expected the constitutional amendment Bill to facilitate roll out of the Goods and Services Tax (GST) regime to be tabled in the coming monsoon session of Parliament.
Idea of national GST was first mooted by Kelkar Task Force in 2004. A task force was formed under Chairmanship of Shri Vijay Kelkar on Implementation of Fiscal Responsibility and Budget Management Act. The Kelkar Committee submitted its report in July 2004. The Committee strongly recommended fully integrated ‘GST’ on national basis. Since then there have been several government documents on this subject of GST. Out of these several government documents following reports were presented were most relevant and important:
VAT/GST provisions in countries other than India are quite streamlined and stable. As the Law in India is still not a reality we might look into the provisions which are in place since quite long and access the structure of rate, exemptions etc.
It would be mandatory for registered dealers to furnish return electronically in Form No. GST-I, which would be a combined monthly payment and return form for all intra-state and inter-state transactions. Periodicity of furnishing this return would be monthly. Electronic filing of any other returns could also be mandatory and forms could be common for both CGST and SGST compliance.
First paper on Goods and Service tax (‘GST’) was introduced on 10 November 2009 since then there is a constant wait among professionals and industrialists for Goods and Service tax legislature. Pending the clearance of issues involved in GST regime there was a report of Task force on 15 December, 2009. This report deals with several issues in detail and lays down the path of GST in India. We here under try to summarize the report of 170 pages only in few pages.
I happened to meet quite a few businessmen in last few weeks and who were unable to appreciate the importance of Zero rating of goods. I made them understand the benefits of proposed scheme of “zero rating” over current scheme of “exemptions”. This made them change their status from “Anti-GST” to “Appreciating GST”. Seeing this I bring before you a complete guide to Zero rating vs. Exemptions vs. No tax Economy.
Services by medical practitioners and pathologists; Services by allied health practitioners such as physiotherapists, naturopaths, nurses and optometrists; Hospital treatment; Disability services; Medical aids and appliances; Pharmaceuticals; Health insurance.
Value Added Tax was introduced in Indian tax structure way back in 2003 and even today not every state has implemented this tax. Small and medium enterprises (SME) have also not been well settled with VAT law and our government has taken over the task of introducing new statutes for implementation of Goods and Services tax.
