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 ...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
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...
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 ...
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...
Omission of proviso (b) & (c) in sub-section (4) of Section 29: This amendment proposes that if the person registered as composite dealer fails to furnish GSTR-4 beyond 3 months from the due date, the proper officer may proceed suo-motu for cancellation of registration. This has been done to make co-ordination between law and its compliance as GSTR-4 is being filed annually, at present.
The officers of Anti Evasion wing of CGST Thane Commissionerate of Mumbai Zone have arrested a couple, for GST evasion of Rs. 12.23 Crore. Based on detailed data mining and data analysis, a Thane based firm M/s Datalink Consultancy was identified as suspicious entity and enquiry was initiated against this firm. Investigation revealed that this […]
CGST Mumbai South smashes a network of fictitious firms which generated fake Input Tax Credit of Rs 49 crores Officers of CGST Mumbai South has smashed a network of fictitious firms which issued fake invoices of Bullion of around Rs. 1650 Crores and fake Input Tax Credit (ITC) of Rs. 49.7 Crores and was remanded […]
GST impact on transaction through E commerce Operator Aatma Nirbhar Bharat is the vision of the Prime Minister of making India a self-reliant nation which has given boost to many of start-ups and thereby transaction through E commerce operator has also increase. We will understand in this article impact of GST on transaction through e-commerce […]
The Economic Survey for the fiscal 2021-22 was presented in Parliament on 31st January, 2022, the first day of ongoing Budget session. The growth has been hit by pandemic. It focuses on need to have capital expenditure by Government and hopes for private spending as well. The fiscal space also allow for more capex. The […]
Today we will do a study of Section 8 of CGST Act, 2017 which talks about tax liability on composite and mixed supplies Firstly, we’ll get acquainted with the legal provision, then relevant definitions and eventually we’ll get through the explanations w.r.t. the legal provisions. Section 8 of CGST Act, 2017 The tax liability on a […]
The Budget -2022 has brought many changes in the Goods and Services Tax (GST). We are going to discuss those important changes in this article. 1. Clause 99 of the Finance Bill -2022 seeks to amend section 16 of the Central Goods and Services Tax Act, 2017 – SECTION 16 DEALS WITH INPUT TAX CREDIT;
1) Meaning of Attachment of Property If the government attaches the property of a person, the person cannot transfer the said property to anyone else. Even if he does manage to transfer the attached property, the transfer shall be deemed void and thus not recognised by law. Even bank accounts can be attached – he […]
It is that time of the year when we have to learn, Unlearn and Re-Learn few things. Yes, the Budget 2022 has brought in few amendments via Finance Bill, 2022. Though, the changes this year are quite few it is important to keep ourselves abreast with latest updates. This Article Summarises certain significant amendments brought […]
UNION BUDGET 2022-2023 HIGHLIGHTS OF THE FINANCE BILL, 2022 The fourth Union Budget presented by the Finance Minister Smt. Nirmala Sitharaman on 1st February 2022; was like a booster dose for the economy in the endemic/post-pandemic era wherein the Government has chosen to lead the path by heavily increasing the capital expenditure to create a […]
