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 Finance (No 2) Act 2024 been notified on 16th August 2024. The Finance Act sections 114 to 157 Page 114 to 157 (Page 67 to 6...
Goods and Services Tax : Overview of GST tax liability, self-assessment, and the distinction between scrutiny under Section 61 and actions under Sections 7...
Goods and Services Tax : Karnataka HC ruled that under Section 75(4) of CGST Act, a hearing opportunity must be granted before passing an adverse order. Ba...
Goods and Services Tax : Understand GST provisions for invoices and credit notes in the sale of under-construction flats/shops, including time limits, e-in...
Goods and Services Tax : In the recent times, GST Department by exercising the powers bestowed on them by way of Section 65 of the CGST Act 2017, has been ...
Goods and Services Tax : A Superintendent in Nadiad is sentenced to 5 years for bribery. CBI also investigates two GST officers in Hyderabad for demanding ...
Goods and Services Tax : Join our webinars on GST Tribunals preparation. Learn to grow your IDT practice and prepare for GSTAT with expert guidance. Regist...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : Explore the financial impact of tax exemptions for BCCI and IPL, government actions, and proposed reforms from the latest Rajya Sa...
Income Tax : Explore the latest updates on tax benefits for skill development institutions in India, including GST exemptions and income tax re...
Goods and Services Tax : Sri Avantika Contractors (I) Limited. Vs Appellate Authority for Advance Ruling (GST) and others. (Telangana High Court) Telangana...
Corporate Law : Bombay HC upholds priority of Janaseva Sahakari Bank's secured interest over Sales Tax Dept’s claims, setting aside the mutation...
Goods and Services Tax : Madras HC sets aside dismissal of GST appeal for delay, remands case to the appellate authority for fresh consideration despite th...
Goods and Services Tax : Delhi HC grants interim protection to a petitioner alleging misuse of GST credentials for ITC claims, pending further investigatio...
Goods and Services Tax : Bombay High Court held that amount payable has been quantified before 30th June 2019 and hence eligible to avail benefit under Sab...
Goods and Services Tax : Maharashtra GST Circular No. 21T of 2024 updates guidelines for recovering outstanding dues after first appeal until the Appellate...
Goods and Services Tax : Instruction No. 03/2024-GST outlines procedures for CGST audits, emphasizing uniformity and reducing litigation through adherence ...
Goods and Services Tax : Kerala SGST department issues a circular clarifying the method of penalty calculation under the IGST Act, 2017 for tax demands mad...
Goods and Services Tax : CBIC's latest updates include a Customs cooperation deal with New Zealand, a new Hindi magazine, and significant seizures of smugg...
Goods and Services Tax : CBIC issues guidelines for a second All-India drive to detect and eliminate fake GST registrations, safeguarding government revenu...
Understanding the major issues faced by Composition dealers under section 10 of GST. Get answers to questions about exempted supplies, input tax credit, and more.
Understand the applicability of GST on restaurant, canteen, and outdoor catering services. Learn about tax rates, input tax credit, and liability for both the provider and the company.
GST rates on all goods including Life Saving Medicines are prescribed on the recommendations of GST Council. A large number of lifesaving medicines are already at the lower rate of 5%. Others attract 12% GST rate.
Whether the Government has received proposals from the State Governments requesting for extension of payment of Goods and Services Tax(GST) compensation to the States for another five years keeping in view the difficulties caused by Covid-19 Pandemic
As per Section 7 of the GST (Compensation to States) Act, 2017, the States are required to be compensated for loss of revenue due to implementation of GST (w.e.f. 01.07.2017) for 5 years’ period. During transition period, the States’ revenues are protected at 14% growth rate per annum over the base year revenue (2015-16). Accordingly, the States are being compensated for any shortfall against their protected revenue. The year-wise details of GST compensation released to States/ UTs is as per Annexure.
Tobacco products such as bidi, cigarettes, chewing tobacco, gutkha, etc. already attract GST at the highest rate of 28%, and a compensation cess up to 290% on ad valorem basis along with specific rate, on certain products like cigarettes, up to Rs. 4170 per thousand. In addition, Tobacco products also attract Excise Duty and National Calamity and Contingency Duty.
Get an opinion on the consignment sales and transfer of ownership in goods under GST. Explore the implications and considerations surrounding this topic.
Madras HC holds that recoveries under Section 79 of the CGST Act from the customers of the taxpayer, during the course of investigation is pre-mature. Calls such measure as ingenious way of creating liquidity crunch.
Understand the impact of GST on sporting events: Learn about the taxation of participation fees, sponsorships, and prize money in sports events.
Government of Maharashtra, reduces with effect from the 1st April 2022 rate of VAT on Natural Gas to 3% from existing Rate of 13.5 per cent. FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated 25th March 2022. NOTIFICATION THE MAHARASHTRA VALUE ADDED TAX ACT, 2002. No. VAT 1522/CR. 18/Taxation-1.— In […]
