GOODS AND SERVICE TAX MATTERS IN THE SUPREME COURT OF INDIA
How to file GOODS AND SERVICE TAX Matters in the Supreme Court of India?
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GOODS AND SERVICE TAX MATTERS –
It is an indirect tax that has taken the place of other indirect taxes in India, including services tax, VAT, and excise duty. On March 29, 2017, the parliament passed the Goods and Service Tax Act, which enacted on July 1st of the same year.
To put it another way, the supply of goods and services is matter to levy GST. Every value addition is subject to the multi-stage, comprehensive, destination-based GST Law in India. For the whole nation, GST is a single domestic indirect tax law.
Every point of sale is subject to taxation under the GST scheme. Both Central GST and State GST are applied to intrastate sales. The Integrated GST is charged for all interstate sales.
Objectives Of GST
1. To achieve the ideology of ‘One Nation, One Tax’
Several indirect levies that were in force under the former tax system have been replaced by the GST. The benefit of having a single tax is that each state charges the same rate for a given good or service. The Central Government makes it simpler to administer taxes by setting the rates and regulations. E-way bills for the transportation of goods and e-invoicing for the reporting of transactions are examples of common laws that could be established. Because taxpayers are not burdened with several return forms and deadlines, tax compliance is also improved. All things considered, it is a single indirect tax compliance system.
2. To subsume a majority of the indirect taxes in India
In the past, India imposed several indirect taxes at various points throughout the supply chain, including service tax, value-added tax (VAT), central excise, etc. The federal government oversaw some taxes while the states oversaw others. A single, centralized tax on products and services did not exist. As a result, GST was implemented. All the main indirect taxes were combined into one under the GST. It has made it much easier for the government to administer taxes and significantly lessened the burden of compliance for taxpayers.
3. To eliminate the cascading effect of taxes
Eliminating the cascading effect of taxes was one of the main goals of the GST. In the past, taxpayers were unable to offset the tax credits from one tax against the other because of disparate indirect tax legislation. For instance, the VAT due at the time of sale could not be offset by the excise taxes paid during manufacturing. A cascade of taxes resulted from this. Only the net value contributed at each stage of the supply chain is subject to the GST tax levy. This has facilitated the smooth transfer of input tax credits across goods and services and helped to eradicate the cascading effect of taxes
4. To curb tax evasion
Compared to any of the previous indirect tax systems, the GST legislation in India are far stricter. Input tax credits under GST are only available to taxpayers on invoices that have been uploaded by their suppliers. In this manner, there is little probability that phony invoices will be used to collect input tax credits. This goal has been further strengthened with the advent of electronic invoicing. Additionally, the GST has a centralized surveillance system and is a countrywide tax, which makes it much easier and faster to crack down on defaulters. Therefore, the GST has significantly reduced the incidence of tax fraud and tax evasion.
5. To increase the taxpayer base
The GST has contributed to the expansion of India's tax base. There used to be a variable threshold limit for registration depending on turnover under each tax code. Since GST is a combined tax that is applied to both goods and services, the number of firms that are registered has expanded. Additionally, the more stringent regulations pertaining to input tax credits have contributed to the inclusion of some unorganized industries in the tax system. Take India's building sector, for instance.
6. Online procedures for ease of doing business
In the past, taxpayers had to deal with numerous tax agencies under various tax laws, which was very difficult. Additionally, the majority of the evaluation and reimbursement processes were conducted offline, even if the return filing process was done online. Nowadays, practically all GST procedures are completed online. From registration to return filing, refunds, and e-way bill production, everything is completed with a single click. It has greatly
streamlined taxpayer compliance and made conducting business in India much easier overall. Additionally, the government intends to launch a centralized platform shortly for all indirect tax compliance, including filing GST returns and electronic method bills and invoices.
7. An improved logistics and distribution system
Multiple documents are not required for the provision of goods when there is just one indirect tax system in place. Among its many advantages, GST boosts turnaround speeds and supply chains, reduces transportation cycle times, and promotes warehouse consolidation. Interstate checkpoint removal is particularly advantageous to the industry in terms of increasing transit and destination efficiency with the e-way bill system under GST. In the end, it reduces expensive warehousing and shipping expenses.
8. To promote competitive pricing and increase consumption
Indirect tax collections and consumption have both increased since the introduction of the GST. India's prices were higher than those of international markets because of the previous regime's cascading taxation. Even between states, there was an imbalance in purchases because of some states' lower VAT rates. Uniform GS T rates have helped to make prices more competitive both domestically in India and internationally. As a result, consumption has increased and revenues have increased, achieving another significant goal.
What are the cases pertaining to Indirect Income tax matters dealt by our law firm in Supreme Court.
- Anti-Dumping Duty
- Appeals u/s 130 E of Customs Act, 1962
- Appeals u/s 35 L of Central Excise and Salt Act, 1944.
- Cess Acts (Rubber, Coffee, Tea, Sugar, etc.)
- Classification under the Indian Tariff Act, 1934 & Customs Tariff Act, 1975
- Entertainment Tax
- Entry Taxes
- Hotel Receipts Tax Act
- Import Control Order
- Import/Export Control Act, 1947
- Import/Export Policy
- Interpretation of exemption notification under Customs Act
- Interpretation of exemption notifications under Central Excise Act
- Interpretation of other notification under Customs Act
- Interpretation of other notifications under Central Excise Act
- Interpretation of the Central Excise Act & the rules
- Interpretation of the Customs Act, Rules & Regulations
- Licence Fee
- Matters relating to recovery of Indirect Tax due
- Motor Vehicles Taxation
- Octroi
- Open General License
- Professional Tax
- Purchase Tax
- Reference under Section 82C of the Gold Control Act
- Sales Tax Act (Central & various States)
- Service Tax
- Tariff classification under the Central Excise Act, 1944 and Central Excise Tariff Act, 1985
- Terminal Tax
- Toll Tax
- Valuation
- Valuation of goods under the Central Excise Act
- Valuation of Goods under the Customs Act
- Value Added Tax
- Water & Sewage Tax
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