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Special Framework for Amending Orders with New Sections 16(5) and 16(6)
OverviewThe Indian government's adoption of GST Council's suggestions led to the Finance (No. 2) Act, 2024, introducing new subsections (5) and (6) to Section 16 of the CGST Act, 2017. These changes,...
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Analysis of Notification No. 09/2024-Central Tax (Rate): Implications for Related and Distinct Persons under GST
1. IntroductionNotification No. 09/2024 – Central Tax (Rate), effective from 10.10.2024, has introduced significant alterations in the Reverse Charge Mechanism (RCM) for renting commercial properties,...
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GST on Commercial Rental Income: Notable Amendments & Applicability of RCM from October 10, 2024
1. IntroductionTo enhance legislative compliance and address revenue leakages within the Goods and Services Tax (GST) framework, the Central Board of Indirect Taxes and Customs (CBIC) issued Notificat...
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Practical Application of Notification No. 22/2024 – Central Tax
IntroductionA new amendment was introduced on October 8, 2024, through Notification No. 22/2024 – Central Tax. This regulation implements a distinctive method for assessees who mistakenly claimed Inpu...
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Revolutionizing GST Compliance: GST's New Invoice Management System
Editorial Note The introduction of the Invoice Management System (IMS) marks a significant milestone in India's Goods and Services Tax (GST) framework. This article delves into the intricacies of the...
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GST TDS on Metal Scrap: An In-Depth Analysis of Notification No. 25/2024-Central Tax
1. IntroductionThe Ministry of Finance, on October 9, 2024, released Notification No. 25/2024-Central Tax, modifying the previous Notification No. 50/2018-Central Tax dated September 13, 2018. This up...
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Notification No. 23/2024-Central Tax: Relief from Late Fees for GSTR-7 Returns
Insight into Notification No. 23/2024-Central Tax – Abatement of Late Fees for Mandatory GSTR-7 ReturnsOverview: The newly introduced Notification No. 23/2024-Central Tax, commencing from November 1,...
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Reverse Charge Mechanism under GST: A Comprehensive Guide for Assessees
Editorial Note: This article provides an in-depth analysis of the Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) regime in India. It has been carefully crafted to offer assessee...
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Eligibility and Process of GST Amnesty Scheme under Section 128
In July 2017, India witnessed a significant transformation in its indirect tax system with the launch of the Goods and Services Tax (GST). This monumental shift brought with it numerous notifications...
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Determining Time of Supply for HAM Contracts: Invoice Date or Payment Date as Ruled by Madras High Court
Time of Supply for HAM ContractsThe Hon’ble Madras High Court has ruled on the timeframe for recognizing the supply of services under a Hybrid Annuity Model (HAM) Contract. The judicial opinion states...
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Motor Vehicle Components and Their GST Classification: Andhra Pradesh AAAR Verdict
OverviewThe AAAR of Andhra Pradesh has delivered a significant ruling in the M/s Saddles International Automotive & Aviation Interiors (P.) Ltd. case, specifying that car seat covers should be categor...
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Notification No. 22/2024-Central Tax: Procedure for Order Rectification in GST
Overview of Notification No. 22/2024– Central Tax: Special Method for Rectifying GST Orders1. IntroductionOn October 8, 2024, the Central Government issued Notification No. 22/2024– Central Tax (S.O....
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Guidelines and Protection Measures for GST Payment during Search and Investigation
IntroductionRecent trends indicate that GST officials have been compelling assessees to remit tax payments during search or inspection under Section 67 of the Central Goods and Services Tax (CGST) Act...
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Understanding GST Implications on Various Lease Structures: A Comprehensive Overview
Financial Lease Under GST Law(i) Characterization as Supply of Goods: A financial lease is often equated to a sale, wherein all significant ownership-related risks and benefits are transferred to the...
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Schedule III of CGST Act: A Comprehensive Guide to Non-Taxable Activities
Editorial Note:This article provides an in-depth analysis of Schedule III of the Central Goods and Services Tax (CGST) Act, 2017, which outlines activities and transactions not considered as supply un...
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Supreme Court Redefines 'Plant' under GST: Shopping Malls May Qualify for Input Tax Credit
Editorial Note: This article discusses a landmark judgment by the Supreme Court of India that could significantly impact the interpretation of Input Tax Credit (ITC) provisions under the Goods and Ser...
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A Practical Guide - Appeal before Appellate Tribunal under GST
Appeal before Appellate Tribunal under GST1. Overview of GST Appellate Tribunal The Goods and Services Tax Appellate Tribunal (GSTAT) serves as the second level of appeal in the GST dispute resolution...
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Reverse Charge on Notified list of Goods
1. Overview of Reverse Charge Mechanism for Specified Goods under GST The Goods and Services Tax (GST) framework in India empowers the government to designate certain goods for which GST is payable on...
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GST Implications on Renting Residential and Commercial Properties in India
Overview: Implemented in India, the Goods and Services Tax (GST) establishes specific guidelines for the rental of residential and commercial properties. Residential property rentals are mostly free f...
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Implementation of GST TDS for Metal Scrap Transactions in India
Introduction to GST TDSIn its eighth year, the Goods and Services Tax (GST) in India has seen several modifications since the establishment of the Central Goods and Services Tax (CGST) Act in 2017. Se...