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Essential Deadlines to Note in December
Essential December Deadlines for Assessees and EnterprisesIn the month of December 2024, there are two pivotal deadlines that assessees and enterprises in India must adhere to in order to prevent incu...
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GST Data Alignment: Harmonizing Figures Across GSTR-1, GSTR-3B, GSTR-9 & GSTR-9C
IntroductionThe framework for Goods and Services Tax (GST) compliance in India is constructed upon principles of precision, transparency, and data harmonization. The returns GSTR-1, GSTR-3B, GSTR-9, a...
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LEGAL PERSPECTIVES ON E-WAY BILL SYSTEM IN GST
Initiation of the E-way Bill Systemi. Introduction and DelaysThe deployment of the e-way bill framework encountered multiple delays attributed to necessary upgrades in the portal system. Initially, th...
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Understanding E-Way Bill Lapses in GST: Insights from the Gujarat High Court
The issue of e-way bill expiration within India's Goods and Services Tax (GST) framework has sparked significant legal debate, particularly examining whether expiration inherently suggests tax evasion...
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Expiry of E-Way Bill Not a Justification for Goods Detention: Insights from Gujarat High Court
Judgment Overview The Gujarat High Court, through its ruling on December 1, 2022, in the case of Shree Govind Alloys Pvt. Ltd. vs. State of Gujarat (R/Special Civil Application No. 23835 of 2022) (202...
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Provisions Concerning the Cancellation and Reversal of GST Registration
Overview:The cancellation of Goods and Services Tax (GST) registration involves the deregulation of a business entity from the GST system. This action is generally taken due to reasons such as busines...
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The Controversial Journey of CGST Rule 96(10)
The Genesis of Rule 96(10): Restriction on RefundsRule 96(10) of the Central Goods and Services Tax (CGST) Rules, 2017, was formulated with a primary focus on limiting exporters from claiming refunds...
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Understanding Place and Time of Supply for Subscription Services via Vendor’s Website under GST
Overview: In the framework of India's Goods and Services Tax (GST), understanding the concepts of Time of Supply (ToS) and Place of Supply (PoS) is essential for correctly determining tax liabilities...
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Discrepancies in Limitation Provisions Under CGST Act Pose Significant Risks
OverviewThe Central Goods and Services Tax (CGST) Act, 2017, outlines differing time frames for appealing and rectifying decisions: assessees are given three months, while the department is afforded s...
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Classification of Vegetable Oil-Based Cream under GST: 5% Tax Applicable
Overview of the AAAR RulingIn a notable ruling, the Uttar Pradesh Appellate Authority for Advance Ruling (AAAR) has clarified the Goods and Services Tax (GST) classification applicable to a cream prod...
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Section 130 of CGST Act Not Applicable for Excess Stock Found During Survey
1. Allahabad High Court Rules on Section 130's Inapplicability in Excess Stock CasesThe Allahabad High Court, in the case of Vijay Trading Company v. Additional Commissioner (Writ Tax No. 1278 of 2024...
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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...