The introduction of the Goods and Services Tax in India marked one of the most significant reforms in the country’s fiscal history. The earlier system […]
GST
Understanding Immovable Property under GST: Definition, Case Laws, and Exceptions
Immovable property under the Goods and Services Tax framework is a critical concept, especially in determining the applicability of works contracts. Under GST, a works […]
Understanding Allocation and Reversal of Input Tax Credit (ITC) Under GST
The principle of value-added tax dictates that input tax credit is only available when tax is payable on the output. If a registered person is […]
A Complete Guide to ITC Allocation and Reversal Under GST Law
The fundamental principle under the GST regime, derived from the concept of value-added taxation, is that input tax credit is allowed only when tax is […]
Year-End GST Compliance Guide for FY 2023-24
Filing the Letter of Undertaking for zero-rated supplies is mandatory before 31 March 2024. This allows taxpayers making exports without payment of integrated tax to […]
Understanding GST: Definition, Features, and Benefits
Goods and Services Tax refers to a tax on the supply of goods, services, or both, as defined under Article 366(12A) of the Constitution of […]
Transaction Value Under GST Explained: Rules, Applications, and Challenges
Every fiscal statute that levies tax on goods or services includes provisions for determining the value on which the tax is payable. In most cases, […]
Understanding Supply and GST Levy: Meaning and Scope Explained
The Goods and Services Tax (GST) regime in India replaced a number of indirect taxes, including excise duty, service tax, and value-added tax (VAT). Previously, […]
Understanding Taxable Events Under GST: Meaning, Provisions, and Liabilities
A taxable event is an occurrence that triggers the obligation to pay tax. It refers to the point at which tax liability becomes fixed and […]
Navigating the GST Maze: The Cross Charge and ISD Dilemma
In the modern multi-locational business environment, most companies establish their principal place of business in one state, often designated as the Head Office or Corporate […]
Supplier Location Under GST: Interpretation and Implementation Issues
Under the Goods and Services Tax (GST) regime in India, the determination of the location of the supplier is a critical aspect that influences the […]
Rectification of Errors Under GST: A Complete Guide to Section 161
Goods and Services Tax in India, being a vast legal framework, inevitably provides mechanisms to address and rectify errors. Section 161 of the Central Goods […]
Understanding UIN in GST: Meaning, Purpose, and Eligibility
Under the Goods and Services Tax regime, supplies made to foreign diplomatic missions, embassies, and international organizations such as United Nations agencies are treated in […]
Understanding the Reverse Charge Mechanism under GST
Under the Goods and Services Tax regime, the general rule is that the supplier of goods or services is liable to pay the applicable GST. […]
Understanding Composite and Mixed Supply under GST: Definitions, Concepts, and Case Laws
To fully understand the concepts of composite and mixed supply under GST, it is essential to explore their historical evolution. These ideas are not unique […]