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GST Liability for Transfer of Business U/S 85 According to Section 85 of the tax law, if a person who is liable to pay tax under this Act transfers their business, either wholly or partly, through sale, gift, lease, hire, or any other means, both the person transferring the business and the recipient of the […]
What is GST Section 161? Section 161 of the CGST Act, 2017 states the rectification of mistakes or errors that are recognized from the records. It mentions that the authority responsible for issuing decisions, orders, summons, notices, or certificates may rectify any mistake that is found in the records in such documents. These rectifications are […]
On the GST portal bank account validation is directed to the process where the GST portal verifies the bank account information which is furnished via the taxpayer in the course of registration or updates. For facilitated tax compliance and crediting refunds it is needed to have accurate bank account details. The GST portal bank account […]
Where the big businesses are continuously appreciating the efforts done by Modi government, the small businesses are sharing another story of discontent.
The Madras High Court has decided that company directors who are going through liquidation cannot be held personally responsible for paying off the company’s GST dues. The court has given them an opportunity to free themselves from these financial responsibilities. N. Ramkhuar Narasimhan and Poorani Nagarajan, who were directors of M/s. Infinitas Energy Solutions Pvt. […]
Auditors in today’s fast-paced compliance environment face constant pressure to generate accurate reports within strict deadlines. Manual data handling has become impractical, as GST compliance requires multiple returns, numerous invoices, e-way bills, and reconciliation data. Modern GST software secures a useful feature that is its ability to export data in structured formats that are simpler […]
The Orissa High Court recently criticised the automatic rejection by the Goods and Services Tax (GST) authorities of a rectification application submitted by Jindal Steel. This application addressed a noted discrepancy between the tax amounts reported in GSTR-3B and the E-way Bill on the portal. Jindal Steel is a recognised entity in the Indian iron […]
The Allahabad High Court recently rejected a GST order, showing that when a rectification application is presented within the statutory limitation period and is followed in good faith, the period for which it stays pending during adjudication shall be excluded from the computation of the limitation period for filing a following appeal under section 107 […]
The Jammu and Kashmir High Court has ruled that trade between Jammu and Kashmir and the Pakistan-occupied Kashmir, or PoK, across the Line of Control is intra-state trade and no GST can be imposed on it. The trade across the LoC has remained suspended because of hostilities between India and Pakistan since 2019. The ruling […]
