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The Delhi High Court in the case of M/S SETHI SONS (INDIA) Vs. ASSISTANT COMMISSIONER has permitted the GST Refund claim beyond the limitation time owing to a late filing because of GST Portal Glitches. The petitioner lodged this petition due to being dissatisfied with the refusal to refund unused input tax credit (ITC) gathered […]
Some of the passive incomes are said to be the income from Youtube, blogging, money from sharing video apps, and others. The same is essential to note the tax treatment from both the income tax and the GST point of view in India. The taxability of GST on YouTube and blogging income-earning shall be discussed […]
The Goods and Services Tax Network (GSTN) has approved the functionality to implement the Letter of Undertaking (LUT) for the fiscal Year 2021-2022 on the GST Portal. Any enrollment individual claiming the option to provide the goods or services towards exporting the Special Economic Zone (SEZ) Get to know the complete details of supplies given […]
Recently, the Central Board of Indirect Taxes and Customs has provided guidelines for the full electronic submission and processing of refund applications through FORM GST RFD-01A along with single disbursement via Circular No. 125/44/2019 – GST dated 18th November 2019. As per this latest GST circular, CBIC has made all the necessary arrangements to make […]
GSTR 1 is a return filing for all taxpayers that includes all the outward supplies given in the transactions of the business dealings. Here we will discuss Table 6A of the GSTR 1 form for regular taxpayers which is basically for the refund on exports. To claim the refunds, the exporter has to file Table […]
GST, with the hope of billions to provide a better way to transact in a business and to eliminate the cascading effects under the previous tax system, it is the biggest tax reform in India ever. Although the system is very new to all and the taxpayers are not well-versed with the new indirect tax nomenclatures, we can expect that by the time it will go flawlessly.
Adverse effects of GST(Goods and Services) regime can be clearly seen over handicraft industries. Census data says there is a huge downfall in handicraft industry from 1996 to 2010. The growth has slashed by approx. 53% which is a drastic price change we can see on hand-made products. Apart from this, the new tax framework also intercepting the growth of the industry.
The Goods and service tax in India has been rolled out also the government has released the GST return form details which are mandated to be filed according to the GST due dates mentioned in the attached notification.
In order to engage with the stakeholders and invite comments from the public at large, it has been decided to make available the draft Business Processes of GST.
