Articles for Gst Liability

‘Flexibility to change GST liability to go’
10 months, 2 weeks ago

‘Flexibility to change GST liability to go’

New Indian Express  

NEW DELHI: In a bid to curb the practice of claiming bogus or higher input tax credit, finance ministry will bring a major reform to the GSTN system. In an interaction with this paper, Revenue Secretary Sanjay Malhotra revealed that the flexibility to change the GST liability without changing the input tax will be removed to prevent tax evasion. “The …

Tax Gst Liability
Mandatory 1% GST liability from January 1: Who all will have to pay? Here's your cheat sheet
3 years, 11 months ago

Mandatory 1% GST liability from January 1: Who all will have to pay? Here's your cheat sheet

India TV News  

About 45,000 taxpayers, which equals to only 0.37 percent of the total businesses registered in the Goods and Services Tax System, will be required to fulfill the mandatory requirement of a 1% percent cash system of GST liability with effect from January 1. The rule is not applicable in the cases where the registered person: has deposited more than Rs …

Tax Liability Month Lakh Rule Gst Cash
Mandatory 1% cash payment of GST liability from January 1, applicable to 45000 taxpayers
3 years, 11 months ago

Mandatory 1% cash payment of GST liability from January 1, applicable to 45000 taxpayers

India TV News  

The mandatory requirement of 1 percent cash payment of GST liability with effect from January 1 would be applicable to about 45,000 taxpayers, which is only 0.37 percent of the total businesses registered in the Goods and Services Tax system, Revenue Department sources said on Saturday. To curb tax evasion by way of fake invoicing, the Central Board of Indirect …

Liability Cent Lakh Gst Itc Input Tax Credit Gst Liability
'Transition Of Unitilized Input Tax Credit Only For Taxes And Duties Subsumed By GST' : Madras HC Disallows Credit For 3 Cesses [Read Judgment]
4 years, 2 months ago

'Transition Of Unitilized Input Tax Credit Only For Taxes And Duties Subsumed By GST' : Madras HC Disallows Credit For 3 Cesses [Read Judgment]

Live Law  

In an important judgment that can have pan-India implications, the Madras High Court on Friday held that the cesses that have not been subsumed by the Goods and Service Tax laws cannot be carried forward to claim set off against output tax credit.A division bench of the High Court was considering the issue relating to Education Cess, Secondary and Higher …

Education Judgment Tax Credit Transition Higher Bench
Delayed GST Payment: Interest to Be Charged on Net Tax Liability from Sept 1, Says Govt
4 years, 3 months ago

Delayed GST Payment: Interest to Be Charged on Net Tax Liability from Sept 1, Says Govt

News 18  

The government has said that interest on delayed payment of goods and services tax will be charged on net tax liability with effect from September 1. The GST Council, comprising centre and state finance ministers, in its 39th meeting in March had decided that interest for delay in payment of GST will be charged on net tax liability with effect …

Delayed Net Gst Council Cbic Tax Liability Delayed Payment Gross Tax
Delayed GST payment: Interest to be charged on net tax liability from September 1
4 years, 3 months ago

Delayed GST payment: Interest to be charged on net tax liability from September 1

The Hindu  

The government has said that interest on delayed payment of goods and services tax will be charged on net tax liability with effect from September 1. The GST Council, comprising centre and state finance ministers, in its 39th meeting in March had decided that interest for delay in payment of GST to be charged on net tax liability with effect …

Interest Delayed Net Gst Council Tax Payment Tax Liability Gst Liability