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 article examines how denying ITC to genuine buyers due to supplier tax default creates constitutional and commercial concerns ...
Goods and Services Tax : This article discusses GST compliance for service providers eligible for the QRMP scheme up to ₹5 crore turnover. It clarifies w...
Goods and Services Tax : The article discusses how GST authorities are increasingly reversing ITC based on upstream NGTP allegations without proving fraud ...
Goods and Services Tax : The article explains common objections raised during GST departmental audits under Section 65, including ITC mismatches, GSTR reco...
Goods and Services Tax : The article explains how rigid GST compliance and fear of penalties are pushing small businesses back into cash transactions. It s...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
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 Bombay High Court held that rejection of a manual GST appeal was unsustainable where DRC-07 was not available on the GST porta...
Goods and Services Tax : Gauhati High Court held that cancellation of GST registration without assigning reasons in FORM GST REG-19 was illegal and violate...
Excise Duty : CESTAT Delhi remanded the matter after finding that the Commissioner (Appeals) failed to consider the appellant’s affidavit and ...
Goods and Services Tax : Bombay High Court held that GST proceedings initiated against a company that had ceased to exist after amalgamation were void ab i...
Corporate Law : High Court directed authorities to examine claims relating to additional road work, carriage charges, GST differential, and deduct...
Goods and Services Tax : The GST Appellate Tribunal issued a detailed order constituting benches across India and classifying GST disputes into three categ...
Goods and Services Tax : The Principal Bench of GSTAT instructed scrutiny officers not to raise defects where appellants upload required soft copy document...
Goods and Services Tax : The Central Government amended Notification No. 14/2018-UT Tax by replacing officials listed against Serial No. 2. The notificatio...
Goods and Services Tax : The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. Th...
Goods and Services Tax : The data highlights a sharp increase in GST collections driven by import-related IGST. It confirms strong revenue performance and ...
The much awaited new indirect tax regime Goods and Service Tax (GST) is unlikely to be implemented from the scheduled date of April 1, 2011, a top government official said on Tuesday. “In all probability it (the introduction of GST) will miss the deadline,” Revenue Secretary Sunil Mitra said.
The much awaited Direct Taxes Code Bill is likely to be introduced in the ongoing monsoon session of Parliament itself, the Revenue Secretary, Mr Sunil Mitra, has indicated. “We do expect the DTC to be introduced in Parliament in this session. This is what the Finance Minister has promised in public forum and we intend to do our best to make it happen,” Mr Mitra told reporters on the sidelines of a CII event here.
Goods and Service tax (GST) is the most talked about topic in the field of indirect taxation today in India. Everybody is keenly waiting for the proposed GST draft which will replace the existing system of VAT in India. The central government wants the GST to be implemented in India by 1st April, 2011. Although there are and will be been many hurdles which are to be crossed before GST is implemented in India.
“Too many cooks spoil the broth” perhaps this would have been in the thoughts of Group on Implementation of GST while analyzing the organizational structure for GST. This group is a committee constituted by the Government that has been framed to analyze all the aspects which will be affected by implementation of GST. On 12.07.2010, the Group has given their report. In this article, we are discussing the administrative changes proposed by the Group under GST regime.
A few months ago, Gujarat Chief Minister Narendra Modi walked up to Finance Minister Pranab Mukherjee and said: “Gujarat is awaiting the Goods and Services Tax (GST) eagerly.” On Tuesday, at a meeting of state finance ministers where it was decided that a decision on GST would be deferred by a month, possibly leading to an indefinite postponement in its rollout, BJP-ruled Gujarat was at the forefront in opposing the tax in its present form.
The Finance Minister, Mr Pranab Mukherjee, has told the State Finance Ministers that they are free to fix their own State GST rates, but hopes that they would not exercise this freedom after a consensus is reached in the GST Council. He, thus, has conceded a major demand of the States that the Union Finance Minister should not have the last word on the State GST rates.
The Union Finance Minister Shri Pranab Mukherjee had a meeting with the Empowered Committee of State Finance Ministers to finalize the draft Constitutional Amendments on Goods and Services Tax, here today. Addressing the meeting, the Finance Minister emphasized that the primacy of the Legislature in the area of taxation is supreme and inalienable and that the proposed draft on GST did not seek to disturb or alter this in any manner.
Government of India has constituted a seven member Technology Advisory Group for Unique Projects (TAGUP) on June 1, 2010, headed by the Chairman, Unique Identification Authority of India (UIDAI), Shri Nandan Nilekani to address various technological and systemic issues relating to the reliable, secure and efficient functioning of IT intensive systems in Government such as Tax Information Network (TIN),
“I have no intention of becoming the Super Finance Minister to interfere with the State GST…They (states) will have their rights as I shall have my right,” he said while replying to the discussion on the supplementary demand for grants.
In yet another blow to the Centre’s plans on the proposed GST, the states today categorically stated that petroleum products will be out of the proposed indirect tax regime, even as the Centre pressed for the same saying such a move can check wild volatility in fuel prices.
