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E-Invoicing Under GST: Applicability and Core Necessities
Introduction to E-Invoicing Under GSTThe concept of electronic invoicing, or 'e-invoicing,' was proposed for phased rollout at the 37th GST Council meeting on September 20, 2019, as a significant aspe...
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Exploring the Payment of Unpaid GST under RCM from 2017-18 to October 2024 in the Financial Year 2024-25 and ITC Utilization
Understanding GST Payment for Past RCM Liabilities and ITC ClaimsDue to recent amendments in GST regulations, registered persons who failed to pay and charge GST under the Reverse Charge Mechanism (RC...
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Critical Insights from the Supreme Court Judgement in Safari Retreats
The interpretation of GST as a purely value-added tax, meant to prevent tax-on-tax situations, has been somewhat compromised by the Central Board of Indirect Taxes and Customs (CBIC), unofficially ass...
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December 2024 GST Compliance Guide
In December 2024, maintaining updated knowledge of GST compliance is essential for assessees. This guide lists critical deadlines and procedures for submitting various GST returns, helping businesses...
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Tax Compliance Deadlines for December 2024 in India
Income Tax Act, 1961 DeadlinesAssessees should be aware of major dates under the Income Tax Act for December 2024. Key deadlines include:(i) TDS/TCS Transactions:TDS/TCS collected in November must be...
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Cancellation and Suspension of GST Registration in India: A Comprehensive Analysis
1. OverviewThe provisions for suspension or cancellation of GST registration are primarily encapsulated in Section 29 of the Central Goods and Services Tax (CGST) Act, 2017. Subsection 2 of this secti...
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Understanding 'As Is' or 'As Is, Where Is Basis' in the Context of Past Transactions
IntroductionThe Central Board of Indirect Taxes and Customs (CBIC) has issued recent circulars following the 53rd and 54th meetings of the GST Council. These meetings addressed the applicability of ta...
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Key Amendments in the CGST Rules
Recent important changes have been made to the CGST Rules through Notification No. 20/2024 – Central Tax, dated October 08, 2024. These amendments, which affect various rules, aim to enhance the GST f...
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New Guidelines on Reverse Charge Mechanism Self-Invoicing from November 1, 2024
Overview of CBIC's Recent NotificationThe Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 20/2024 - Central Tax on October 8, 2024. This directive unveils significant modifi...
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GST Input Tax Credit Restrictions on Works Contracts and Construction
Introduction:India's construction and works contract sector substantially contributes to the nation's economic momentum by generating jobs and developing infrastructure. The advent of the Goods and Se...
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Detailed Overview of GST TDS and Reverse Charge Mechanism in the Metal Scrap Sector
IntroductionThe 54th GST Council Meeting introduced significant changes affecting the taxation framework for metal scrap under the Goods and Services Tax. Specifically, two major updates were unveiled...
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Special Approach for Correcting GST Orders Under Section 148: ITC Adjustment
IntroductionThe GST Council has put forward a unique procedure as delineated in Section 148 of the CGST Act, 2017. This initiative aims to reconcile historical disparities in Input Tax Credit (ITC) cl...
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GST Registration Cancellation Cannot Be Denied Due to Tax Investigation
OverviewThe Delhi High Court, in a significant decision in the case of M/s Sanjay Sales India v. Principal Commissioner of Department of Trade and Taxes, Government of NCT, Delhi, pronounced that the...
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Latest Communications from GSTN on Portal Improvements and Compliance Directions
Overview of GST Advisories Issued in November 2024GST Network (GSTN) has disseminated essential guidance to assessees, elaborating on numerous compliance standards and enhancements recently configured...
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Classification of Hydrated Lime with Less Than 98% Calcium Content Under GST Regulations
OverviewThe Rajasthan Authority for Advance Rulings (AAR) in the case of M/s Balveer Singh [Advance Ruling No. RAJ/AAR/2024-25/2017] provided clarity on the Goods and Services Tax (GST) classification...
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Initiation of Penalty Under Section 130 of the CGST Act for Excess Stock: Legal Insights
OverviewThe Allahabad High Court in the case involving PP Polyplast (P.) Ltd. v. Additional Commissioner Grade 2 [Writ Tax No. 1183 of 2024, dated July 30, 2024] ruled that imposing penalties under Se...
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GST Act, 2017: Mandatory Registration Overview
1. Introduction to GST RegistrationThe registration under the Goods and Services Tax Act, 2017, serves as a vital compliance measure for enterprises. Suppliers exceeding an annual turnover of ₹20 lakh...
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M&A and GST: Essential Considerations
Overview: Mergers and acquisitions (M&A) have become a cornerstone of modern business strategy. In executing these complex transactions, a critical area of focus is conducting comprehensive due dilige...
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Royalty and Taxation in India: An In-Depth Legal Perspective
1. OverviewThe debate regarding whether royalty qualifies as a tax has been a longstanding legal issue within India, significantly impacting state finances and the mining industry. Important clarifica...
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GSTN Guidance on the GST Relaxation Initiative under Section 128A
IntroductionIn an effort to reduce tax burdens and mitigate disputes, the GST Council recommended a relief initiative during its 53rd meeting, as articulated in Section 128A of the CGST Act, 2017. Thi...