by Audit Analyst | Jan 2, 2026 | GST
Rationalization of Tax Rates Efforts are ongoing to simplify and consolidate the current multi-rate structure Possibility of merging 12% and 18% into a single standard rate to reduce complexity Rate corrections for sectors like textiles, pharma, and food processing...
by Audit Analyst | Jan 2, 2026 | GST
Inspection and Search Authority Tax officers can inspect any place of business if they suspect tax evasion or fraud Inspection must be authorized by an officer not below the rank of Joint Commissioner Officers can search premises where goods, documents, or accounts...
by Audit Analyst | Jan 2, 2026 | GST
Constitutional Amendment GST was introduced through the 101st Constitutional Amendment Act, 2016 Empowered both Parliament and State Legislatures to make GST laws Introduced Article 246A for concurrent taxing powers on goods and services Added Article 279A to...
by Audit Analyst | Jan 2, 2026 | GST
GST Context Refers to situations where a supply is considered received even without physical delivery Legal fiction created to trigger tax liability or ITC eligibility Important for accounting, valuation, and compliance Covers cases of delivery on behalf of recipient,...
by Audit Analyst | Jan 2, 2026 | GST
Eligibility for Refund Excess cash balance in electronic cash ledger Accumulated ITC due to zero-rated supplies without payment of tax Refund of IGST paid on exports of goods or services Refund of tax on account of inverted duty structure Refunds due to appeal orders,...
