What is the latest amendment regarding the filing of returns? The Goods and Services Tax (GST) system in India has undergone several amendments since its implementation in July 2017. These amendments have impacted various aspects of GST compliance, including the filing of returns. As of 2023, there have been significant changes to make the return […]
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What are the recent GST provisions for the construction sector? The Goods and Services Tax (GST) provisions for the construction sector in India are primarily governed by the Goods and Services Tax Act, 2017 (CGST Act, IGST Act, and respective State GST Acts). The construction sector is integral to the Indian economy, and the tax
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How does the dual GST structure work? The dual GST structure in India is designed to address the needs of a federal country, balancing revenue between the central and state governments. Unlike a single, unified GST system, India’s GST comprises two main components on every taxable supply within a state: Central Goods and Services Tax
What are the recent rulings on GST by the Supreme Court of India? The Supreme Court of India has delivered several important rulings on Goods and Services Tax (GST) matters, which have shaped the interpretation and implementation of the law. These rulings primarily focus on the validity of GST provisions, interpretation of GST Act provisions,
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How are recent changes in the GST council affecting taxpayers? The recent changes in the GST Council’s decisions are having a significant impact on taxpayers, especially with respect to compliance, tax rates, and Input Tax Credit (ITC). These changes aim to simplify the tax structure, reduce compliance burdens, and encourage the ease of doing business.
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Who is required to register under GST? In India, the Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services. The provisions and regulations related to GST are defined in the GST Act, 2017, and several other associated rules and amendments. Here’s an outline of the requirements
How are fraudulent activities penalized under GST? Fraudulent activities under the Goods and Services Tax (GST) regime in India are met with stringent penalties to maintain the integrity and efficacy of the tax system. These penalties are enshrined in the Central Goods and Services Tax (CGST) Act, 2017, alongside relevant constitutional provisions and judicial interpretations
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What is the validity period of an e-way bill? The validity period of an e-way bill depends on the distance the goods are being transported. It is regulated under the GST Act and CGST Rules, which provide specific time limits for the movement of goods covered under the e-way bill system. The validity period is
