Knowledge Base

Section 18 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the availability and eligibility of Input Tax Credit (ITC) in special circumstances. Unlike the general provisions for claiming ITC under Section 16, Section 18 provides specific rules for claiming ITC in cases such as change in business constitution, exempt supplies, and capital goods. Section […]

Introduction: Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, deals with the power of inspection, search, and seizure under the GST regime. This provision grants authorities the power to inspect, search, and seize goods, documents, or other assets in specific situations to prevent tax evasion and ensure compliance with the law..

Section 65: Audit By Tax Authorities: Understanding the intricate process of GST audits, as outlined in Section 65, is crucial for businesses. This section empowers tax authorities, led by the Commissioner or authorized officers, to undertake audits of registered persons. Audits may span one or more financial years, requiring a meticulous examination of records and compliance

Navigating the complexities of Goods and Services Tax (GST) can be challenging for businesses, especially when it comes to understanding specific transactions or determining the correct tax liability. One of the most effective tools for gaining clarity on GST-related matters is the Advance Ruling mechanism. An advance ruling is a written decision provided by the

In the era of GST, the removal of check posts nationwide aimed to streamline the movement of goods within India. To uphold tax compliance, the E-Way Bill system was introduced, necessitating taxpayers to pre-inform the tax department about transaction details before the conveyance of goods. The system issues an acknowledgment number, serving as a vital

Introduction The Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. In the event of the death of a sole proprietor, the GST law provides a facility whereby the successors can continue the business if they desire so by claiming the stock in hands deceased without

In the intricate landscape of Goods and Services Tax (GST), the concepts of zero-rated supply and export play pivotal roles in shaping the taxation dynamics for businesses. Section 16 of the GST Act delves into the nuances of zero-rated supply, elucidating its implications on the entire value chain. This article aims to unravel the intricacies of zero

Introduction- The CBIC vide Notification No. 04/2024 – Central Tax dated January 05, 2024, notified the new special procedure to be followed by a registered person engaged in manufacturing of goods which are listed as under- SCHEDULE S. No. Chapter / Heading  / Sub-heading / Tariff item Description of Goods (1) (2) (3) 1. 2106 90 20 Pan-masala 2. 2401

Under the Goods and Services Tax (GST) regime, Goods Transport Agency (GTA) and EWAY BILL are critical components for the transportation of goods and compliance with GST laws. Below are the latest updates and key provisions related to GTA and EWAY BILL Introduction- That vide Notification No. 03/2022– Central Tax (Rate) | Dated: 13th July, 2022

The Inverted Duty Structure (IDS) under the Goods and Services Tax (GST) regime is a situation where the rate of tax on inputs (raw materials or services) is higher than the rate of tax on output supplies (finished goods or services). This creates an imbalance, as businesses end up paying more GST on inputs than