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With the Goods and Services Tax (GST) implementation on July 1, 2017, businesses in India have experienced a thrilling shift. The same amendment has substituted a complex system of various indirect taxes with a single tax structure (One Nation, One Tax), particularly impacting cost, compliance, and functional effectiveness. GST objectives were to improve the operation […]
The bench of Justices Bhargav D Karia and D N Ray, quoting Joshi Technologies International and Gujarat State Police Housing Corporation stated that amounts filed via mistake or ignorance cannot be retained by the Revenue. The applicant is in the manufacturing of textile machinery and equipment and is registered under the GST Act, 2017. The […]
A Penalty Order claimed by the Revenue has been dismissed by the High Court of Andhra Pradesh at Amaravati noting that Form GST MOV 07 issued u/s 129(3) of the Central Goods and Services Tax Act, 2017 ( CGST Act ) specifies the provision of seven days time to issue a reply towards a Show-Cause […]
The Central Board of Indirect Taxes and Customs (CBIC) has stated in a recent announcement via circular number 243/37/2024 that gift vouchers and cards will not be charged Goods and Services Tax (GST). It was mentioned by the Central Board of Indirect Taxes and Customs (CBIC) that the way the Goods and Services Tax (GST) […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on the place of supply for online services furnished before the unregistered receiver, addressing the concerns for non-compliance with the obligatory invoicing requirements under the IGST Act, 2017 (IGST Act) and the CGST Rules, 2017 (CGST Rules). It was cited that if the services […]
The Central Board of Indirect Taxes and Customs (CBIC) via Circular No. 240/34/2024-GST mentioned that electronic commerce operators (“ECOs”) are mandated to pay tax u/s 9(5) of the Central Goods and Services Tax Act, 2017 (“CGST Act”) are not needed to reverse input tax credit (ITC) concerning the supply of restaurant services through their platform. […]
As per the latest official data released dated January 1, 2025, Gross GST collections in December 2024 stood at Rs 1,76,857 crore, which is 7.3 per cent more as compared to the previous year. According to the data of government, the Central GST collection stood at Rs 32,836 crore, State GST at Rs 40,499 crore, […]
Trade associations and tax professionals have raised their desires with the approaching Union Budget 2025 which is towards the modifications to the Goods and Services Tax (GST) framework. In February Finance Minister Nirmala Sitharaman will present the budget and stakeholders are advocating for reforms that address challenges encountered by businesses. Key Recommendations for GST Reforms […]
In a case, the High Court of Kerala has viewed that failure to grant an opportunity for cross-examination upon charging penalty under the Central Goods & Services Tax Act, 2017 (CGST Act) breaches the principles of natural justice and set aside the said order. The applicant, Nishad K.U., is a registered taxpayer as per the Goods and […]
