Due Dates & Applicability for GSTR-9 & GSTR-9C: Who Files & When? (FY 2024-25) Separate GSTIN-wise Filing : Each GST registration (per state) requires separate GSTR-9 filing, irrespective of entity-wide consolidation. Compulsory Filing Despite Cancellation : Even if registration was cancelled mid-year, taxpayers must file GSTR-9 if registered for even one day in FY 2024-25. …
Corporate Guarantees under GST (Rule 28(2)) : When 2 Fictions Collide The Madurai Bench of the Madras High Court (Order W.P.(MD) No. 2021 of 2025, decided on 06.10.2025) has reignited the debate over how Rule 28(2) and its Proviso interact when valuing corporate guarantees under GST. Background The Petitioner had extended a corporate guarantee to …
GST is applicable on dinner coupons issued to members COUPONS (FOR COMMUNITY LUNCH/DINNER/PARTY) SUPPLY IS CONCERN: Supply of Dinner Coupons by Society/Association When a NGO/ / Society / Club / Association collects money from its members and provides them dinner coupons (for community lunch/dinner/party), it is considered a supply of service under GST. Even though …
What happen If Taxpayers in case Bank A/c Frozen in GST for Over 1 Year. Under Section 83(2) of the CGST Act “Every such provisional attachment shall cease to have effect after the expiry of a period of one year from the date of the order.” This means any provisional attachment of a bank account …
GST rate on Hospitality Industry/ Hotel Rooms in India The hospitality & tourism industry in India is expected to rise from INR 15.24 lakh crore (US$ 234.03 billion) in 2017 to INR 32.05 lakh crore (US$ 492.21 billion) by 2028. Implementation of GST has helped the sector by reducing costs for customers, harmonising taxes, and …
Next-Gen GST Reform : Ease of Living & Aatmanirbhar Bharat The Government of India has rolled out the Simplified GST Registration Scheme, GST refund marking a next-generation reform to strengthen the vision of Ease of Living and Aatmanirbhar Bharat. GST 2.0 is designed not just for taxation ease, but as a nation-building reform that’s fueling …
The existing 12% & 28% GST rates were Scrapped, which resulted in leaving only 2 FST slab of 5% & 18% rates. The Group of Ministers on GST rate rationalisation has accepted the Centre’s proposal to reduce the current four-slab structure to two, Bihar Deputy Chief Minister Samrat Choudhary said on Thursday. The Group of …
Challenges MSME face due to the accrual-based GST framework. GST on accrual basis hurting MSME/ Small businesses” highlights a significant challenge in India’s GST system for MSME/ Small businesses —the requirement to pay GST based on invoice issuance, not actual receipt of payment. Accrual-Based GST is Squeezing Small Businesses’ Cash Flows Bhagat pays Goods and …
Summary of insights: Gross and Net GST revenue collections for March 2025 Analysis of GST Collections for March 2025 Overall Monthly Collection: The GST collection for March 2025 witnessed a notable rise, totaling INR 1,96,141 crore, reflecting a 9.9% year-on-year (YoY) growth over INR 1,78,484 crore collected in March 2024. This marks a stronger …
When a Delivery Challan Must Be Issued Under GST Regulations in India This blog guide outlines key scenarios where a delivery challan is required under GST, along with mandatory documentation and compliance requirements. Structured Scenarios Requiring a Delivery Challan to be Issued by Taxpayer: Transportation of Goods for Job Work Every consignment for job work …