Documents required for GST registration in India
The documents required for GST (Goods and Services Tax) registration in India depend on the type of business entity. Here is a list of documents required for different types of entities:
GST Department Set to Access Banking Transactions of Taxpayers: A Move Towards Curbing Tax Evasion and Improving Compliance
The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It was implemented on July 1, 2017, and has since been a critical source of revenue for the government. The GST department has been making efforts to streamline the tax collection process and plug revenue leakages. In a significant move towards this goal, the GST department is set to get access to banking transactions of taxpayers.
Special Drive Against Fake GST Registration and Bogus Firms
The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. The GST Department has been striving hard to ensure that only genuine taxpayers are registered under the GST regime. However, there have been instances where fake GST registrations have been made, causing huge revenue losses to the government.
Input Tax Credit on Food Items
As a business owner, understanding input tax credit (ITC) can help you save money and streamline your tax filing process. In this blog, we will discuss ITC on food items, which can be a significant expense for many businesses.
Works Contract under GST
The term “works contract” has a limited scope under the GST regime and is applicable only to contracts related to the construction, fabrication, or similar activities for immovable properties. Any composite supply involving goods, such as a paint job or fabrication work carried out in an automotive body shop, does not fall under the purview of a works contract for GST purposes.
Assessee cannot be prosecuted simultaneously by both CGST and SGST authorities for the same subject matter
In a recent case Tvl Metal Trade Incorporation v. the Special Secretary, Head of the GST Council Secretariat and Ors.(W.P. No. 3033 of 2023 And W.M.P. No. 3125 of 2023 dated February 6, 2023), the Hon’ble Madras High Court ruled that the State Tax Authority cannot prosecute an assessee if the Central Tax Authority has already taken action regarding the same subject matter. The court further stated that the assessee must participate in a personal hearing or enquiry to substantiate such a defence and to determine whether the proceedings initiated by the Central and State Tax Authorities involve the same subject matter. The court directed the assessee to appear before the Revenue Department and present all their objections.