Budget 2026: GST Surprises with Practical Consequences

Through focused amendments under the CGST Act, the Budget 2026 has addressed long-standing operational bottlenecks that affected day-to-day GST compliance. Some changes don’t make headlines, but they have meaningful impact on outcomes. These practical amendments that ease cash flow pressure, reduce disputes, and restore balance between law and commerce. This analysis covers three key amendments and evaluates their practical consequences for businesses.

Key Recommendations of the 56th GST Council Meeting

Key Recommendations of the 56th GST Council Meeting

FORM 26QC : Complete Process

Did you know that if you are paying rent of more than Rs. 50,000 per month, you must deduct TDS and file FORM 26QC?

GST Applicability on Freight Paid on FOB under Import of Crude (Non-GST product) and LPG (GST Product)

The Goods and Service Tax (GST) regime in India introduced a comprehensive tax structure that impacts various aspects of business transactions, including imports. Under the GST regime, Article 269A constitutionally mandates that supply of goods, or of services, or both in the course of import into the territory of India shall be deemed to be supply of goods, or Of services, or both in the course of inter-State trade or commerce.

PROCEDURE TO GET RELIEF FROM DEMAND CREATED DUE TO SECTION 16(4)

The Goods and Services Tax (GST) has been a game-changer for India’s taxation system since its introduction in 2017. Over the years, the government has made several amendments to the GST framework in order to enhance compliance, transparency and overall efficiency of the tax system. This article explores the recent amendment to Section 16 of the Central Goods and Services Tax (CGST) Act, specifically the introduction of Sections 16(5) ,16(6) and procedure of rectification of order to get relief against demand raised due to section 16(4).

IMPORTANT POINTS FOR ANNUAL RETURN FOR FY 23-24

As we prepare for the annual return for the financial year 2023-2024, it’s crucial to highlight key points that will ensure compliance and accuracy in our reporting. This document serves as a comprehensive guide to the essential elements required for the return and critical updates in regulations that may impact our submissions. By addressing these important aspects, we can facilitate a smooth filing process and avoid potential pitfalls.

CA Certificate for Circular 212 (For Above 5L Tax in CN)

This is to Certify that, M/s <Name of Recipient>, having address at <Address of the Recipient > & having GSTIN <GST Number of the Recipient> have made the reversal of ITC pertains to Credit Notes issued by M/s <Supplier’s Name> having GSTIN <GST Number of the Supplier> for the list of Credit Notes as per below mentioned Table. We also Certify that ITC pertains to such Credit Notes have been reversed in the returns of GSTR-3B or Via DRC-03 as per the below mentioned table.

Certificate for Circular 212 (For Below 5L Tax in CN)

This is to Certify that, We, M/s <Name of Recipient>, having address at <Address of the Recipient> & having GSTIN <GST Number of the Recipient> have made the reversal of ITC pertains to Credit Notes issued by M/s <Supplier’s Name> having GSTIN <GST Number of the Supplier> for the list of Credit Notes as per below mentioned Table. We also Certify that ITC pertains to such Credit Notes have been reversed in the returns of GSTR-3B or Via DRC-03 as per the below mentioned table.

Benefits/restriction for the export on payment of IGST or under LUT – An Analysis

India is a worldwide powerhouse in terms of exporting Goods and services. The transactions via which the businesses export goods and services are treated as zero-rated supplies under the goods and services tax (GST), which means no GST is paid on such deliveries.

GST Implications on Online Gaming

Since 2020 the online gaming industry has experienced a tremendous growth globally due to the COVID-19 Outbreak which forced many people to stay at home and find reliance on various virtual means to keep themselves entertained and to connect with other people. At present, even though people have resumed back their normal routines which includes interacting with others in person and not entirely dependent on virtual means to connect with people, the online gaming industry is still witnessing a steady growth.

GST on solar based devices

The reliance upon solar power based devices has seen a tremendous increase in the past few decades. People are moving towards a better renewable form of energy and adapting the same in their day to day lives. Even in terms of usage solar power is considered safer to use and requires less maintenance and repair as compared to other conventional power resources. Solar power converts renewable energy from the sun into electricity either directly through photovoltaics or indirectly through concentrated solar power. The electrical energy generated from the conversion of sunlight is called solar power. The products directly or indirectly powered by sunlight are called solar power based devices.

Decoding “Higher Pension”

Decoding “Higher Pension” Background of the Dispute 1. When was Pension introduced? As per the provisions of the Employees provident fund and Miscellaneous Provisions act 1952 Sec 6A was introduced for providing pension to employees in the year (16/11/1995) 1995.(replacing family pension which was introduced in 1971)

Taxability of Goods Transport Agencies

Taxability of Goods Transport Agencies (hereinafter referred to as GTA) under the GST era, will have lots of confusion. So we are discussing the relevant provision and relevant notification issued till June 2023 in detail.

Instructions regarding care to be taken during the process of registration, cancellation of registration and revocation of cancellation of registration of fake taxpayers under GST-reg.

No.CCT-PEI-POL-0155-2021 7869/CT & GST Dated 10/05/2023

FORM GST ITC - 02 : A Detailed Analysis

The main purpose behind implementation of GST was to put an end to cascading of taxes. In the old indirect tax regime, the taxes were multilayered as the Central Government levied excise duty,service tax, Central Sales Tax etc. Whereas the State Government levied taxes such as VAT , Entry Tax, Sales Tax, state excise and octroi etc. To eradicate this problem, the Government moved towards opting a new Indirect Tax Regime i.e. GST to reduce the extra tax burden on the ultimate consumers , to simplify the whole process of levying taxes and to lessen the duplicacy of taxes at every stage.

IS ITC ON LIFT ALLOWED?

INTRODUCTION The lift is treated as Plant and Machinery fixed to earth under GST. There are some judgments related to GST which we will discuss further in the article.

Qualifications and Disqualifications of Auditors

Audit in layman language refers to the inspection of an organisation's accounts, usually by an Independent body. It is carried out with an aim to draw a true and fair view of the financial records of any organisation. Talking about the same in Legal Terms, Audit refers to the systematic examination of financial or accounting records by a specialised inspector, called an auditor, to verify their accuracy and truthfulness. A formal hearing during which financial data are investigated for purposes of authentication.

Corporate Social Responsibility - Section 135 of Companies Act,2013

E-Way Bill Under GST - An Overview

Since the rollout of GST on 1st July , 2017 , various amendments circulars and notifications have been issued to propose changes and to execute such proposed modifications in GST. The primary purpose of introducing changes is to make GST easier to understand , implement and smooth running of the businesses without much hassle. One of the game changing additions to the GST Act was the introduction of the E-Way Bill. The E-Way bill was implemented to ensure smooth movement of goods and reduction in average waiting time at the check posts for verification. In this article , we will have a complete overview of the provisions of the E-Way Bill under the GST Act.

KYS – KNOW YOUR SUPPLIER

The Takeover Saga : Hostile or Friendly?

PROVISIONS OF POWER TO ARREST

In this article we will study about the Provisions of Power Arrest by the Proper Officer in detail. The power to arrest an assessee is prescribed under Section 69 of the CGST Act. The tax administration in India provides for provisions like Inspection, Search and Arrest in order to protect the interest of genuine Taxpayers. The options of Inspection, Search, Seizure and Arrest are exercised, only in exceptional cases and a last resort, to protect the government revenue.

Disclosure of information by a public servant under GST - Section 158 of CGST Act , 2017

Section 158 of CGST Act , 2017 lays down the provisions for disclosure of information by a public servant as also maintaining the confidentiality of the same and related penal provisions in the event of contravention of the same.

Section 145 of CGST Act : Admissibility of micro films, facsimile copies of documents and computer printouts as documents and as evidence

Section 145 of CGST Act explains the Admissibility of micro films, facsimile copies of documents and computer printouts as documents and as evidence. Section 2(41) of CGST Act has defined a document as, "document" includes written or printed record of any sort and electronic record as defined in the Information Technology Act , 2000.

Section 93 of CGST Act : Special provisions regarding liability to pay tax, interest or penalty in certain cases

For certain transactions like liquidation , amalgamation , merger of companies , partition of HUF etc.it becomes difficult to determine the liability to pay outstanding tax , interest or penalty.

Pure Agent in GST

Generation of E-way Bill in "Bill to Ship To" transaction

It has become a common practice among businesses where goods are purchased by one person but delivered at different location other than the location of the actual buyer of such goods. Therefore , 2 separate invoices are required to be generated for seamless transfer of Input Tax Credit and appropriate compliance of the same in GST returns.

ALL ABOUT E - INVOICING

In this article we will study about E – Invoicing. E – Invoicing is a system which is for Registered Taxpayer under GST for uploading all B2B and export invoices to the Invoice Registration Portal (IRP), managed by GST Network (GSTN). The IRP generates and returns a unique Invoice Reference Number (IRN), digitally signed E – Invoice and QR Code to the user.

Concept of Authorised Representative in GST

There are various disputed matters in GST which are to be sought with the help of the GST officials appointed under the GST Act or the Appellate Authority or the Appellate Tribunal. The topmost question which arises in minds of most of the taxpayers registered under GST is who exactly can represent their cases on their behalf before such appointed GST officials , GST Appellate Authority or Appellate Tribunal.If we talk in brief , the answer to this question is the *Authorised Representative.* In today’s article , we will cover Section 116 of CGST Act read with Rule 116 of CGST Rules 2017 which will help us in understanding the Concept of Authorised Representative under GST.

Works Contract in GST

A works contract is essentially a contract of service which may also involve the supply of goods in the execution of a contract. It is basically a composite supply of both services and goods, with the service element being dominant in the contract between parties.

Treatment of SEZ transactions under GST

India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports. In the year 2000 , the concept of Special Economic Zone (SEZ) was introduced to encourage foreign investments and provide a hassle free and a competitive environment for the businesses to flourish.

ALL ABOUT INSPECTION, SEARCH AND SEIZURE

GST is self-assessment tax, self assessment means when assessing our self-liability to take credit and pay our tax liability. In this article, we will study Inspection, Search, and Seizure in detail. These provisions are being used to protect the interest of the revenue, but they should be used and exercised only in exceptional cases and as last resort.

OIDAR SERVICES

The growth of online media and online services are phenomenal in the present world. The world has really seen the amazing power and convenient practical usage of online platform during the lockdown specially in sectors like advertisement, media, education and gaming .These sectors have shown double digit growth post the lockdown period including OIDAR service (Online Information Data Access and Retrieval).

Provisional Attachment Of Property Under Section 83 Of CGST Act In Certain Cases

INTRODUCTION In this article we have tried to analyze the fact that Section 83 of CGST Act can be applied if the Commissioner can freeze your bank account and attach the property if the Taxpayer and Any Person who commits any offence and the Commissioner wants to protect the Interest of the Revenue of the government he has the power to attach the property and bank account of the taxpayer provisionally.

Income tax - Meaning, Taxpayers, Income Heads, and more

Tax is majorly classified into two parts - Direct Tax and Indirect Tax. Direct tax is defined as the tax which is levied directly on the income earned, for example, Income Tax. Whereas, indirect tax refers to the tax which is levied on goods and services, for example, Goods and Service Tax, Custom, etc. Here in this article, we will learn about Income taxes in detail. So let’s understand what Income tax is and how it works.

ALL ABOUT LEVY AND COLLECTION

In this article we will cover the charging section i.e Section 9 of CGST Act and Section 5 of IGST Act. The charging section is the most important section in any law. Under GST the tax is liable to be paid on the taxable supply of Goods or Services. There are two types of Charges i.e Forward Charge and other is Reverse Charge Mechanism (RCM). Article 265 gives the power to impose and collect tax except by the authority of any law. Forward Charge: - Under GST law, generally supplier (seller of goods or services or both) collects tax from recipient (buyer/ customer of goods or service or both) and pay to the Government (net of ITC) (but ultimately GST is borne by end customer or consumer that is why it is called indirect tax) this mechanism is known as forward charge.

TIME OF SUPPLY OF GOODS [SECTION 12]

TIME OF SUPPLY OF GOODS [SECTION 12]

PLACE OF SUPPLY - PART 1 (Section 10,11 & 12 of IGST Act)

Before implementation of GST, there was VAT and VAT is the origin based tax for eg:- Goods were supplied from ‘X’ State to ‘Y’ State then the Tax benefit would be given to ‘X’ State, which totally changed in GST, GST became the destination based Tax for eg:- Goods were supplied from ‘X’ State to ‘Y’ State then the Tax benefit would be given to ‘Y’ State. Through this Place of Supply tax can be determined which tax is to be charged IGST (Supplied Inter-State), CGST + SGST (Supplied Intra-State/Within the State). In GST Place of Supply plays a vital role in determination of tax. It’s a vide topic which we will be discussing in different parts.

Input Tax Credit - Meaning, Conditions to avail, documents required, and more

GST or Goods and Services Tax is a broad-based value-added tax. This means that the GST is collected on the goods or services at every stage of the supply chain where value is added. Because of this cascading effect, i.e. tax on tax, comes into force. To avoid such an effect, an input tax credit is provided to the recipient of goods and services throughout the value chain.

Composition Scheme under GST

Composition levy scheme is an optional scheme available for small taxable person. The purpose of this scheme is to reduce compliance cost of small taxpayers

MOST DRACONION PROPOSED SECTION IN THE HISTORY OF GST

In the Finance Bill 2022-23 new condition for availing ITC has been introduced i.e Section 16(2)(ba) according to which requiring credit should not be restricted under Section 38 of the CGST Act, due to this two way communication between supplier and recipient will be removed.

Section 188 of Companies Act 2013 Related Party Transactions

Section 188 of Companies Act , 2013 (Related Party Transactions) , regulates the transactions (7 types of Contracts / Agreements) entered in by any company with Related Party as defined in the Section 2(76) of Companies Act , 2013.

Intermediary Under GST

Be it pre GST era or post GST era , scope of Intermediary and its services has always been ambiguous and thus created confusion among the taxpayers.The GST Council received various representations for issuing clarification regarding the scope of Intermediary under GST Law. Taking into account the difficulties faced by the trade and industry and to ensure uniformity of law across various fields , the GST Council in its 45th GST Council Meeting issued clarification in regards with the Scope of Intermediary in Circular No. 159/15/2021-GST dated 20th September, 2021.

Advance Ruling Under GST

Advance Ruling & its Roles Advance Ruling is a written interpretation of tax laws. It helps the applicant in planning its activities that are liable to payment of GST. It provides clarification regarding certain tax matters to Individuals , Firms & Corporates who seek help for such clarification. Advance Ruling is applied for , before starting the proposed activity. Thus , it helps in avoiding long drawn and expensive litigation at a later stage.Ruling given by the Authority is binding on the applicant as well as the concerned Government Authorities.

CONCEPT OF AGGREGATE TURNOVER IN GST

As per GST law, “aggregate turnover” refers to the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-state supplies of persons having the same Permanent Account Number, to be computed on an all-India basis but excludes Central tax, State tax, Union territory tax, Integrated tax and cess. Now, understanding the concept in simpler terms: Aggregate Turnover in common terms means total sales volume of the business in the entire financial year i.e. April to March. Inclusions and Exclusions under aggregate turnover in GST is as follows

GST CREDIT CAN’T BE DENIED IF SUPPLIER FOUND TO BE BOGUS OR NON-EXISTENT

SECTION 16(2)(C) is one of major and dangerous defining section to avail Input Tax Credit (ITC) or should I say one of most draconian (Harsh) section to avail ITC.

RESIDENTIAL STATUS & SCOPE OF TOTAL INCOME

Income tax is the most significant direct tax. It is levied on total income of the person earned in the previous year. A person includes an individual, Hindu Undivided Family, Association of Persons, Body of Individuals, a firm and a Company. There is no shifting of burden of tax on other person and it is progressive in nature. List I in the Seventh Schedule to Article 246 of the Constitution has given power to make laws on taxes on income other than agricultural income.

ALL ABOUT BLOCK INPUT TAX CREDIT IN GST

In this article will study about Meaning of Input Tax Credit, Conditions for Eligible Input Tax Credit, What is Block Input Tax Credit, Items which are not allowed to take credit, and finally Author’s View

Analysis of Section 115BAC and Form 10IE

Finance Act,2020 introduce NEW TAX REGIME

ASSESSMENT UNDER GST

Assessment means determination of tax liability under GST law. This act includes Self-Assessment, Reassessment, Provisional Assessment, Summary Assessment, and best judgment assessment.

Inverted Duty Structure

Refund of unutilised ITC and Notified Goods/Services on which refund not allowed.

Input Tax Credit to be taken as per 2A vs 2B vs Books

Interest on reversal of wrongful ITC

No interest on reversal of wrongful availment of credit under GST

Work Contract in GST

Work Contract in GST

Relaxation in time period for Revocation or Cancellation in GST

Time Period between 15 March 2020 to 14 March 2021 would be excluded while determining the time limitation for Revoation or Cancellation of Registration

GST on Legal Services

GST on Services provided by Advocates

Changes Effective in GST from 01.04.2025

As the new financial year unfolds, the GST landscape is set for a major transformation. Effective April 1, 2025, businesses across the country will witness a wave of regulatory enhancements aimed at strengthening digital governance, and promoting uniformity in operations. From mandatory multi-factor authentication and compulsory ISD registration to tighter timelines for e-invoice reporting and revamped return formats, these updates signal a proactive push towards greater transparency and efficiency in the indirect tax regime. Whether you\'re a seasoned tax professional or a taxpayer or an accounts manager in any entity, understanding these changes is crucial to staying compliant and competitive. Let us dive in to explore the key updates that could shape your GST strategy for the year ahead.