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The AAR and AAAR decisions on the applicability of the Goods and Services Tax (GST) on the issuing of vouchers were recently overturned by the Karnataka High Court. The Court determined that there was no GST owed on the vouchers that the assessee had issued in the form of prepaid payment instruments. The corporation in […]
GST input tax credit Input tax is related to a taxable entity, which means the (IGST and CGST) in respect of the CGST Act and (IGST and SGST) in respect of the SGST Act are imposed upon each supply of goods and any services on the entity that is used by it or that is […]
Finance Minister Nirmala Sitharaman proposed nine legislative revisions to the GST law in the Union Budget 2023. Decriminalization GST Offences Facilitate Microbusiness E-commerce Operators Unregistered suppliers and composition taxpayers will now be able to provide goods within a state via E-commerce operators (ECOs), subject to a few restrictions. Changes to Schedule III of the 2017 […]
A unified national market for goods and services was intended to be created by the Goods and Services Tax (GST), which was established with the claimed goal of rationalizing India’s indirect tax environment. The three pillars of this “one nation-one tax” strategy were ‘ease of doing business’, economic expansion and pricing rationalization. A strong dispute […]
Through the Finance Bill, 2023, the government is likely to make changes to the Goods and Services Tax (GST) law that will prevent businesses from receiving tax credits for the purchases of goods and services that they make on behalf of the community as part of their corporate social responsibility (CSR) obligations. According to two […]
18% GST is subjected to be paid on the forest permit fee, the Telangana Appellate Authority for Advance Ruling (AAAR) stated. The two-member bench consists of B.P. Naga Siva Kumari tracked, the permit fees obtained via the forest council would be utilised by forest officials to track the activity of mining, assess quantity and type […]
It is essential for the registered individual to issue the tax invoice before or during the removal of goods for the supply of the recipient. To supply the services, the GST invoices could be provided prior to or post to the time of supply. Moreover, the e-invoicing system would have been executed within the phased […]
Scrutiny notifications and intimations have been circulated recently, suggesting that the department is requiring taxpayers to reverse the excess input tax credit claimed in Form GSTR 3B as compared to credits shown in GSTR 2A. How reliable are such communications? Is the taxpayer compelled by law to reverse such credits? We shall go over the […]
On the services that have been provided twice, the assessee does not compel to file the taxes, Rajasthan High Court ruled. The division bench of Justice Pankaj Mittal and Justice Subha Mehta stated that the applicant’s supply of manpower to the company in the state of Rajasthan is either an inter-state transaction as per CGST+RGST […]
