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Here are three important changes under GST law that have come into effect from 20th October 2023 that will affect your input tax credit availability. Cab Rental Services for Passengers In the services, the condition has been inserted via renting any motor vehicle designed to carry the passengers in which the fuel cost is been […]
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 […]
When comparing the data shown in GSTR 9/9C Vs GSTR 3B, the council has initiated issuing the notices and has urged for the data. This blog acknowledging different changes in the GST law has the objective of furnishing clarity on the filing of the annual returns (Form GSTR 9) and the reconciliation statement (Form GSTR […]
The Allahabad High Court ruled that under the GST regime, all filed details and returns are accessible through the GST Department’s portal. Authorities can verify the tax amounts deposited post-GSTR-1 and GSTR 3B filing on this portal. Justice Piyush Agrawal, while cancelling the penalty order, stated that “Under the GST regime, all details are available […]
The Kerala High Court has issued a directive in a writ petition, instructing the petitioner, M/s Brothers Trade Links, to approach the appellate authority under Section 107 of the Goods and Services Tax Act, 2017 (GST Act), seeking permission to rectify an error in Form GSTR-3B. The petitioner, M/s Brothers Trade Links, approached the court […]
A recent report has brought attention to the current status of state finances, emphasizing the persistent deficit in budget revenue. The report underscores that this deficit is causing limitations in capital outlay, particularly impacting the allocation of funds for developing assets. Furthermore, the report highlights the necessity of rationalizing the goods and services tax (GST) […]
The implementation of the Goods and Services Tax (GST) in India on July 1, 2017, aimed to simplify the nation’s complex taxation system. Replacing several indirect taxes such as excise duty, VAT, and service tax, GST is a complete, multi-stage, destination-based tax. However, businesses are now faced with compliance procedures and may encounter situations where […]
According to reports, GST Intelligence teams have conducted searches at the offices of foreign carriers in India due to alleged tax evasion related to the import of services from their head offices by their Indian branch offices. The Directorate General of GST Intelligence (DGGI) officials reportedly carried out the search operations at many airline offices […]
The Goods and Services Tax (GST) Act was inaugurated at midnight on July 1, 2017. This legislation’s primary objective is to provide a framework for imposing and collecting taxes on the intra-state supply of goods or services, or both, by the central government and related matters. Under the GST Act of 2017, 13 distinct types […]
