The Patna High Court dismissed a writ petition by stating it was an over-enthusiastic exercise of an advocate petitioner, challenging the legality of the central goods and services tax (GST) council. Under the GST Act, the council suggested the Parliamen
Appeals under GST and dispute resolution mechanisms are provided under the GST Act to resolve disputes and enforce compliance with the GST laws. In case of any legal disputes, wherein the person involved is not happy with the decision passed on by a lower court, the person can raise an appl...
Article 279A having provisions regarding the establishment of the GST Council was inserted after Article 279 of THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) ACT, 2016. The Union Finance Minister is the head of the GST Council while the First Meeting of the council was held on 22nd and ...
Rule 88C has been added to the CGST Rules 2017 vide GST Notification No 26/2022 to implement decisions taken by 48th GST Council Meeting. The Rule 88C specifies manner of dealing with difference in liability reported in statement of outward supplies and that reported in return. An explanation ...
Electronic invoicing, was introduced by the GST Council to simplify B2B invoice reporting for businesses. This was first targeted at business entities with a turnover of 500 crores, the threshold was then gradually reduced to accommodate smaller businesses as well. The implementation began in phases...
摘要: The GST Council has notified that sellers on e-commerce platforms who are unregistered and are supplying goods with a turnover of up to Rs 40 lakh and services with a turnover of up to Rs 20 lakh can make intra-state supply from October 1, 2023.年份: 2023 ...
The council will have the last say in finalizing the shape of the GST. It will finalize the tax rate under the GST as well as the revenue threshold for traders to be exempt from this tax. It will make recommendations on the taxes, cesses and surcharges that will be subsumed by the ...
Related Read:An In-depth Look at Input Tax Credit under GST What are GST Rates and Slabs? GST rates are divided into four main slabs: 5%, 12%, 18%, and 28%. There are also some special rates, such as 0%, 0.25%, 3%, and cess, for certain items. The GST Council periodically rev...
If the consideration paid is recorded as income from salary, the same is not chargeable under GST. If it is not shown as salary income under IT Act, GST on the same will be chargeable on RCM basis. Obviously, where part of consideration is shown as salary income and part is shown as ...
The Engineering Export Promotion Council (EEPC) has proposed the introduction of a faceless GST audit system. This proposal is expected to be included in the upcoming Budget 2025. By implementing this system, MSMEs can reduce compliance costs, fostering their growth and innovation. Export of Goo...