Tax Guru

Interest at 18% Mandatory on Unpassed GST Benefits from Date of Collection: GSTAT

The Tribunal held that even a marginal increase in ITC must be passed on to buyers. Failure resulted in refund liability with interest under Section 171. The ruling confirms that interest is payable ...

Goods and Services Tax (GST): Definition, Types, and How It's Calculated

The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption.
Tax Guru

GSTAT Orders Builder to Refund ITC Benefit as GST ITC Was Not Passed to Homebuyers

GSTAT accepted the DGAP investigation finding that the developer retained additional ITC benefit after GST introduction. The amount must be passed on to buyers with ...
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GST reforms meant to benefit people, small businesses, economy: Sitharaman

New Delhi: GST reforms, including the tax rate cuts effective 22 September, aim to benefit the poor and middle class, farmers and small businesses while boosting consumption and investments, finance ...
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GST reforms: How will the Centre ensure tax benefits are passed on to consumers

The central government will take steps to ensure that the benefits of the Goods and Services Tax (GST) are passed on to consumers. The Union Consumer Affairs Ministry will reportedly closely monitor ...
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Gst Benefit

North-eastern states have recorded a compounded annual GST revenue growth rate of 27.5% so far since the implementation of the GST as against 14.8% for all states, making them the biggest gainers of ...

GIPE to host conference on GST reforms

Pune: Gokhale Institute of Politics and Economics will host a conference on the Goods and Services Tax (GST) to discuss the benefits of the latest cha.