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Under the GST, the exports of taxable goods or services are treated as zero-rated supplies. It means that the suppliers will not have to pay any GST on any of their exports.
After the implementation of GST, it was significant to the under various provision regarding the ITC availability in the matter of sale and purchase of capital goods under the goods and services tax regime.
FMCG companies made a full proof plan to by-pass anti-profiteering measure to ensure its benefits and profits, letting common people go in the bin.
India is making full efforts on implementing indirect taxation structure system. It is similar to State Good and Service Tax (SGST). Tax-free zones are some specific areas in which business enterprises are exempted from paying sales state tax and will be eligible to claim the refund under new GST Regime.
Goods and services tax will be developing some tough situations for the business units to survive with the hectic compliance issues. As it is speculated that small and weak credit profile companies will be having more difficult issues.
The petitioner, Anil Kumar, the proprietor of N.S. Super Mart contested a Show Cause Notice (SCN) on December 15, 2023. Subsequently, an order-in-original was issued on April 3, 2024, under the Delhi GST law. The GST SCN proposed a tax demand of ₹10.91 lakh, citing alleged excess Input Tax Credit (ITC) due to discrepancies between […]
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 Punjab and Haryana High Court has rejected a request for anticipatory bail from Jitender Saharan, who is accused of being involved in a significant fraud related to the Goods and Services Tax (GST). This fraud involves improperly claiming and distributing tax credits amounting to over 8.24 crore rupees. The bench of Justice Manisha Batra, […]
The government has notified that there are 489 fraudulent Goods and Services Tax (GST) registrations associated with bogus PAN and Aadhaar details as of October this year. This problem has led to tax evasion of INR 3,000 crore, as revealed to Parliament on 15th December, 2025, Monday. For fiscal year 2024-25, there were 3,977 fake […]
