The GST Council convened for its 53rd meeting on June 22, 2024, in New Delhi, resulting in notable amendments to the GST rates on a range of goods and services. These modifications, set to take effect from July 15, 2024, aim to streamline the tax structure and provide relief in key areas. The Council’s decisions … Continue reading New GST Rates Effective July 15, 2024 Announced by GST Council
Category: GST Insight
Litigation Management under 🇮🇳 GST—Part 02
Adjudication proceedings in tax administration are crucial, providing taxpayers the essential opportunity to present their case before any action is taken against them. The issuance of a Show Cause Notice (SCN) is a fundamental step in this process, serving as a formal notification to the taxpayer about the proposed actions by the tax authorities. The … Continue reading Litigation Management under 🇮🇳 GST—Part 02
Key Circulars in 53rd GST Council Meeting—Part 1
Following the 53rd GST Council meeting on June 22, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued a series of clarifying circulars, numbered 207 to 222, on June 26, 2024. These circulars address key issues including taxability, place of supply, and time of supply, ensuring compliance and clarity for taxpayers. Here is … Continue reading Key Circulars in 53rd GST Council Meeting—Part 1
Key Circulars in 53rd GST Council Meeting—Part 2
In the aftermath of the pivotal 53rd GST Council meeting on June 22, 2024, the Central Board of Indirect Taxes and Customs (CBIC) has released a series of 16 circulars, numbered 207 to 222, all dated June 26, 2024. These circulars provide critical clarifications on various aspects such as taxability, place of supply, and time … Continue reading Key Circulars in 53rd GST Council Meeting—Part 2
Unveiling the High-Stakes Impact of GST on OIDAR Services
The advent of the Goods and Services Tax (GST) in India marks a pivotal transformation in the nation’s indirect tax structure, fostering a cohesive and streamlined market. Among the various sectors reshaped by GST, the realm of Online Information and Database Access or Retrieval (OIDAR) Services stands out due to its inherently digital nature and … Continue reading Unveiling the High-Stakes Impact of GST on OIDAR Services
Understanding Condonation of Delay in Indian GST Appeals
Navigating the Indian GST framework can be challenging, especially for tax professionals tasked with filing appeals within strict deadlines. Despite best efforts, there are instances where appeals might be delayed beyond the initial three-month period allowed by law. In such cases, a request for condonation of delay becomes necessary. The legal landscape for condonation of … Continue reading Understanding Condonation of Delay in Indian GST Appeals
Litigation Management under 🇮🇳 GST—Part 01
Section 75 of the Central Goods and Services Tax (CGST) Act, 2017, delineates the foundational principles governing adjudication within the GST framework. This section underscores the procedural norms to be meticulously followed by officers executing adjudication under Sections 73 and 74, or any other GST-related provisions. The adjudicative role of departmental officers, who act as … Continue reading Litigation Management under 🇮🇳 GST—Part 01
Upcoming Economic Data to Shape the New Government’s Economic Narrative
Next week, crucial economic data releases will set the stage for the new government’s policy framework. Five key high-frequency indicators will be unveiled, and apart from GST collections, all are expected to surpass estimates. GDP and Fiscal Deficit Data The Government’s Statistics Office will release the growth data for FY24 and Q4 of FY24 on … Continue reading Upcoming Economic Data to Shape the New Government’s Economic Narrative