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 : Reverse Charge Mechanism (RCM) in GST is a system where the recipient of goods or services is liable to pay the tax instead of th...
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...
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 : Madras High Court judgment on Hajee S M Ahamed and Company vs Deputy State Tax Officer, remanding ₹25,000 GST demand and ₹1.36...
Goods and Services Tax : Calcutta HC reinstates GST appeal for Rahul Bansal, ruling technical glitches can't negate statutory rights to challenge orders un...
Goods and Services Tax : Kerala High Court grants a petitioner the opportunity to challenge GST assessment orders uploaded post-registration cancellation, ...
Goods and Services Tax : Calcutta High Court grants a final opportunity to a business owner to comply with WBGST Sec. 28(1) after non-compliance led to the...
Goods and Services Tax : Calcutta HC directs GST registrant to file delay condonation application under Limitation Act for appeal rejection despite pre-dep...
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...
Impact of GST on Bitcoin or Cryptocurrency Let we see how the traders of cryptocurrency should liable to pay GST on exchange of Cryptocurrency in India Case 1: Treating Bitcoin or Cryptocurrency as a Goods Definition of Goods and Services under GST Act’ 2017 Definition of Goods – Section 2(52) of GST Act’ 2017 “Goods’’ means […]
Cheema Local Carrier & Construction Vs Assistant Commissioner SGST (Chhattisgarh High Court) Petitioner has filed the current writ petition challenging three issues: Provisional attachment of bank account, Cancellation of registration certificate under Goods and Services Tax (GST); and Input Tax Credit (ITC) being blocked. The Petitioner contended that Rule 21 of the Central Goods and […]
Taxes are the largest source of revenue for the government. Taxes collected are used for governmental activities with aim of nation-building and its development. As per Article 265 of the Constitution of India, ‘No Tax shall be levied or collected except by authority of law’. India is a federal state where both the Centre and […]
Bombay Chartered Accountant’s Society has made following two brief representations on the various legal and procedural issues on the provisions relating to GST registration in the GST law and rules which are relevant from every taxpayer’s point of view. These representation deals with legal issues and procedural issues. Full text of the representation is as […]
What is GSTR-9 Every registered person under GST is required to furnish an annual return specified under rule 80 of CGST rules, due to covid government has eased compliance for small taxpayers having the turnover of less than 2 crore from furnishing annual returns for the last three years. Even though annual returns represent a […]
Availing Fake GST Input Tax Credit can provide short term benefit to businesses but in long run, it could have devastating effect. In above case, Mr Mohan has been witnessed greedy to avail credit of Rs 90,000/- and in long run, he has to face huge interest, penalty and fines imposed by the GST Department. We all should remember not to play with the intelligence level of any personnel of Tax Departments.
QUALIFICATION : GST practitioner is a qualified person who acts as a bridge between the GST System and the Registered Person. They assist the registered taxpayers in various GST related compliances. The list of qualified Person eligible to act as a GST Practitioner is given in Rule 83 of the CGST Rules 2017. A Person […]
Important GST related points To be addressed by 30th September For Finance professionals in India, Financial Year ends on 31st March, but for people working in GST, it ends on 30th September. The following points must be noted with respect to year end activity related to GST and documentary evidence that should be kept ready […]
The Tamil Nadu AAR (AAR) has passed a very important decision on idli, dosa, bajra, jowar, ragi, and other ready-to-cook mix powders. The AAR has passed a ruling in case of an application filed by the Krishna Bhavan Foods and Sweets
In Shri Kottoor Mathew Jose Mathew, M/s. Jose Matthew and Co. [Advance Ruling No. KER/123/2021 dated May 31, 2021], Shri Kottoor Mathew Jose Mathew (Applicant) has sought an advance ruling on the following issues: Whether there lies any tax liability on the discount received through credit notes. Consequences of treating credit notes after showing Goods […]
