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Archive: 07 July 2022

Posts in 07 July 2022

Refinement in formula for claiming refund of ITC in case of Inverted Duty Structure

July 7, 2022 20376 Views 3 comments Print

Explore the recent refinement in the formula for claiming a refund of Input Tax Credit (ITC) under the Inverted Duty Structure in GST. Understand the changes, implications, and how it affects taxpayers.

Healthcare Industry under GST Net – Withdrawal of GST Exemption

July 7, 2022 3081 Views 1 comment Print

Explore the withdrawal of GST exemption on healthcare services. Understand the implications, potential issues, and legal considerations for the healthcare industry under the new GST regulations.

Completion of CIRP against principal debtor doesn’t bar financial creditor against personal guarantor

July 7, 2022 1341 Views 0 comment Print

Held that conclusion of Corporate Insolvency Resolution Plan against principal debtor does not bar Financial Creditor against Personal Guarantor. Accordingly, personal guarantor declared insolvent and insolvency resolution process initiated against him.

RBI Annual Return on Foreign Liabilities and Assets (FLA Return)

July 7, 2022 14874 Views 0 comment Print

Understand the RBI Annual Return on Foreign Liabilities and Assets (FLA Return) filing process. Check applicability, due date, penalties, FAQs, and ensure compliance effortlessly.

GST on executing works for State & Central Govt authorities & entities

July 7, 2022 1686 Views 0 comment Print

In re Srico Projects Private Limited (GST AAR Telangana) M/s. Srico Projects Private Limited are executing works for State & Central Governmental authorities & Governmental entities. They are desirous of ascertaining the rate of tax on the works contract services rendered by them before 01.01.2022 & after 01.01.2022. Some of the institutions to whom applicant […]

AAR Telangana alllows Panchajanya Lube Solutions to withdraw application

July 7, 2022 246 Views 0 comment Print

In re Panchajanya Lube Solutions (GST AAR Telangana) In the reference 1st cited, M/s. Panchajanya Lube Solutions, Hyderabad, (36ATLPN0939M1Z4) has sought certain clarification by filing an application for Advance Ruling. The Case was posted for personal hearing on 25-11-2021& 24-03-2022 However, in the reference 5th cited, M/s. Panchajanya Lube Solutions, Hyderabad, have informed that they […]

DGGI-MZU busts Fake GST ITC of ₹35.11 Crores

July 7, 2022 1227 Views 0 comment Print

The Mumbai Zonal Unit of the Directorate General of GST Intelligence [DGGI-MZU] on Saturday, 2 July 2022 arrested Amanpuneet Singh Kohli, Director of M/s. Immensa Multiventures Pvt. Ltd. and six other Companies under the provisions of the CGST Act, 2017.  As per DGGI-MZU, Shri Amanpuneet Singh Kohli is the keyperson and mastermind behind several other firms, which […]

GST – Grant Personal Hearing Before Passing Order: Calcutta HC

July 7, 2022 1146 Views 0 comment Print

Suraj Singh Vs Assistant Commissioner (Calcutta High Court) GST: Calcutta High Court Directs Assistant Commissioner To Grant Personal Hearing Before Passing Order Heard learned advocates appearing for the parties. By this writ petition, petitioner has challenged the impugned order passed by the Assistant Commissioner of State Tax, Asansol Charge, dated 9th March, 2022 on the […]

Format of amended DIR-2 As applicable from 1st June 2022

July 7, 2022 21588 Views 0 comment Print

Understand the amended DIR-2 format effective from June 1, 2022, for director appointment in companies. Learn the required details and declaration process for smooth compliance.

Summary of 7 GST Circulars issued on 06th July 2022

July 7, 2022 23169 Views 1 comment Print

Explore key insights from 7 recent GST Circulars issued on 06th July 2022. Understand changes in filing, penalties, fake invoices, and more from the 47th GST Council Meeting.

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