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 : As per Section 18(6) of the Central Goods and Service Tax Act, 2017 In case of supply of capital goods or plant and machinery, on ...
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...
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 : Allahabad High Court ruled Section 130 of GST Act can't be applied for excess stock found during search; Section 73/74 should be u...
Goods and Services Tax : Allahabad HC rules that GST authorities can survey business premises for verifying transactions when goods are intercepted without...
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 : 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...
Amendments, related to GST refund, made into CGST Rule 2017 by Central Government on the recommendation via Notification No. 15/2021 Dated 18th May, 2021 with the help of FAQ’s. These amendments shall come into the force w.e.f 18th May 2021. 1. As per Section 54(1) of CGST Act, 2017 read with Rule 90(3) of CGST […]
Recently Bombay High Court has delivered its Judgment in the case of ‘Dharmendra M. Jani Vs Union of India and others‘ on Intermediary service under GST. On this issue Views of Both the Judges Justice Ujjal Bhuyan and Justice Abhay Ahuja differed from Each other so they Both given their separate Judgment. This article makes […]
Analysis of Circular No.150/06/2021-GST, dated 17th June, 2021 related to GST on annuities paid for construction of road It is to be stated that the above circular is issued on account of certain representations for a clarification regarding applicability of GST on the activity of construction of road where considerations are received in deferred payment […]
Analysis of Clarification Issued on Job Work By Way of Milling of Wheat Into Flour or of Paddy Into Rice. CLARIFICATION ON JOB WORK BY WAY OF MILLING OF WHEAT INTO FLOUR OR OF PADDY INTO RICE Circular No. 153/09/2021-GST, 17th June 2021 Introduction: ♦ Job work activity done by way of milling of wheat into flour […]
In light of the recommendations made during the 43rd GST Council Meeting, the Government has issued 7 Circulars on 17th June 2021 providing clarifications on the applicability of GST, GST rate etc on various services. The clarifications are tabulated below for the readers: Circular No Issue Clarification Circular No 149/05/2021-GST dated 17 June 2021 Whether […]
All About Cost Audit Applicability and its disclosures in other statutory documents The pandemic has again brought the focus on the importance of cost management of resources in the most effective and most efficient manner. The government of India had already mandated the maintenance of Cost Records and Cost audits under Companies Act 2013. Through […]
Introduction Coronavirus (COVID-19), a virus that grew stealthily from the end of 2019 has become one of the deadliest viruses that is killing people worldwide. The normal life in India was disrupted due to lockdown, restrictions on commutation etc. due to covid. It affected almost all the industries in India and the second wave of […]
Guidance Notes On Mentioning Of HSN & SAC Codes And Furnishing The Details Of Nil Rated, Exempted, And Non GST Supplies In FORM GSTR-1w.E.F.1.4.2021-Reg Guidance Notes on supply of Exempted Goods and Services- Whether Mandatory to mention HSN Code &SAC Code on Invoice – How and Where to mention such supply of Exempted Goods and […]
a. Applicable only if GSTR-3B returns for these tax periods are furnished during the period between 01.06.2021 to 31.08.2021; b. Late fee capped to a maximum of Rs 500/- (Rs. 250/- each for CGST & SGST) per return for taxpayers, who did not have any tax liability for the said tax periods;
Below article explains the concept of E-way bill and various provision related to E Way bill 1. Why E way bill is required? 2. What is an E Way Bill? 3. When should E-Way bill be generated? 4. What If supply is Intrastate? 5. Who has to generate E-Way Bill? 6. Does E-Way Bill to […]
