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 gross GST revenue collected in the month of May 2021 is₹1,02,709 crore of which CGST is ₹17,592 crore, SGST is ₹22,653, IGST is ₹53,199 crore (including ₹26,002 crore collected on import of goods) and Cess is ₹ 9,265 crore (including ₹868 crore collected on import of goods).
-Returns are a way of communicating business data to the -Different types of returns are prescribed for sending different types of -In this presentation common errors relating to returns GSTR-1 and GSTR-3B are -No Revised Return Record wise amendment possible. Law relating to filing and amendment of GSTR-1 Section Details 37(1) Obligation to file […]
By virtue of decision taken in 43rd GST Council Meeting, Notification No. 16/2021 – Central Tax dated 1st June, 2021 was issued under GST law to state that interest under Section 50 of the CGST Act, 2017 would be applicable only on net tax liability with retrospective effect from July 1, 2017. With this notification […]
The Government, vide Notification No. 19/2021, dated 1st June, 2021, inter alia, has waived the late fee payable, in excess of amount as specified in the Tables, as given below: (Note: Please refer to respective State/UT Notifications for waiver of State/UT tax). A. For the registered persons who have failed to furnish the return in FORM GSTR-3B, for the […]
Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part 1 & Part 2) Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May, 2021, vide Notn. Nos. […]
During the ongoing pandemic of COVID 19, various States are again imposing restrictions, curbs and curfews to restrict interaction as a measure to stop spread of the disease. Fortunately, various measures undertaken by government till now are bringing positive results and in the past few days there is a gradual reduction in number of daily […]
In view of the spread of pandemic COVID-19 across many parts of India & challenges faced by Taxpayers, the Government vide Notification Nos. 08/2021- Central Tax, 09/2021- Central Tax, 10/2021- Central Tax, 11/2021- Central Tax, 12/2021- Central Tax, 13/2021- Central Tax, 14/2021- Central Tax, 01/2021 – Integrated Tax & 01/2021 – Union Territory Tax dated […]
1) GST Amnesty Scheme 2021 2) Relaxation in Late – Fee Payment 3) Due Dates Extended 4) Other Relaxation Summary of GST notification are tabulated below: – Relevant Notifications (Central Tax dated 01.05.2021) Notification No. Central Tax Description Notification No. 08/2021- Central Tax Dated: 1st May, 2021 Interest Relaxation for Tax Payable of Mar-Apr-21 Notification […]
♦ Introduction: When a Company’s business activities are distributed evenly across various states both on input side and output side, then the company shall be able to utilise the input-tax credit on inward supplies in each such state while offsetting it against tax on outward supplies made from each such state. However, in many cases, […]
The resurgence of COVID-19 pandemic recently headed different regions/states of India into lockdown which escalated difficulties in instituting the cases and filing applications in the courts at all levels. The Supreme Court Advocate on Record Association (SCAORA) took note of such a daunting situation before the litigants and filed the interlocutory application before the Supreme […]
