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...
The department audit round has begun, and it will not be long before it will be in full swing. The first year(s) of the audit would be crucial in the sense that it would reflect revenue’s approach towards a number of controversial tax positions. One such critical tax position being, ‘taxability under S. No. 2 […]
The Hon’ble Calcutta High Court in Raj Metal Industries & Anr. v. UOI & Ors. [W. P. A. 1629 of 2021, dated March 24, 2021] stayed the summons issued and proceedings initiated thereunder against assessee by the State GST Authorities since the proceedings were already pending on same subject matter under Central Goods and Services […]
Question: GST registration is already cancelled in Suo Moto from 1st March 2021, Client have filled returns till February 2021, if he leave as it is with out revocation, does he get any notice in future from GSTN & What to do in case of sue moto cancellation of registration. Pls suggest what client have […]
An eight members group of ministers set up to decide GST reduction on Covid relief material has recommended that the GST on vaccines be determined by Gst Council and has therefore referred the matter back to the council said people aware of the details. 1. GST council should decide the rate on vaccines it has […]
In re Udupi Nirmithi Kendra (GST AAR Karnataka) In the first scenario, since the value of the single invoice is more than Rs.2.5 lakh, there is no doubt that the tax deduction at source is applicable under section 51 subject to other conditions. In the second scenario, the applicant has clearly stated that the value […]
Table-12 of GSTR-1 pertains to the data related to the HSN-code wise supplies of goods & services declared in the aforesaid GSTR-1. It has been reported that in the GSTR-1 for the tax period of May 2021, the ‘Total Invoice value’ field in the preview PDF is displaying a value as ‘0’ (zero) instead of […]
GST Compliance Relaxations pursuant to GST Council Recommendations – Pursuant to the GST Council recommendations in their 43rd meeting held on 28th May 2021 at New Delhi, CBIC has issued series of notifications relaxing GST compliance requirements. The changes are categorized in below major areas and summarized for ease of understanding – A. Reduction of […]
Introduction India has the second-largest road network in the world, spanning a total of 62.16 Lakhs kilometres (kms). This comprises National Highways, Expressways, State Highways, District Roads and Village Roads. Historically, investments in the transport sector have been made by the Government. However, in order to encourage private sector participation, the Ministry has laid down […]
Recent circulars/ notifications/ rules/ clarifications/News ♦ Furnishing & upload of Form No. 34BB on Income Tax E-filling Portal (Notification No. 05 of 2021-Income Tax 24/05/2021) ♦ CBDT notifies Rule 11UAE Computation of Fair Market Value of Capital Assets for the purposes of section 50B of Income-tax Act, 1961 (Notification No.68/2021 [G.S.R. 338(E)] 24/05/2021) ♦ CBDT […]
This is an attempt to briefly discuss the provisions with regards to claiming of input tax credit and subsequent levy as outward supply under GST law of the benefits/facilities granted by the employer to the employee during COVID-19 pandemic under GST regime:
