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Ca Chitresh Gupta

Latest Posts by Ca Chitresh Gupta

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

July 7, 2022 20778 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 3195 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.

Eligibility of Recipient to Claim ITC in case of Mis-Classification by Supplier

September 17, 2020 4239 Views 1 comment Print

The right to claim ITC on goods and/or services received by the Recipient is never disputed both in GST law and erstwhile VAT regimes. However, what should be the correct amount of ITC which can be claimed by the recipient has been a matter of legal debate in both GST law and erstwhile Indirect Taxation regime.

GSTR-2B – Relief or Opening of New Pandora Box for Taxpayers

September 4, 2020 11661 Views 1 comment Print

Background GST Council, in its 39th Meeting held on March 14, 2020, recommended linking the data available in GSTN viz. linking outward supply data in Form GSTR-1 and Form GSTR-3B and Input Tax Credit (‘ITC’) data between Form GSTR-2A and Form GSTR-3B. It was also stated that the present return system (GSTR-1, GSTR-2A & GSTR-3B) […]

Interest on Delayed Payment of Tax – on Gross or Net Tax Liability – Bone of Contention Remains

August 26, 2020 3630 Views 1 comment Print

Interest on Delayed Payment of Tax – on Gross or Net Tax Liability – Bone of Contention Remains There has been a big controversy that whether interest on delayed payment of tax has to be paid on gross tax liability or net tax liability paid through electronic cash ledger after adjustment of input tax credit? […]

GST Actionable for September 2020

August 25, 2020 23100 Views 1 comment Print

September 2020 marks an important month for completion of major compliances under Goods & Services Tax. We present below the list of activities which should be executed by the registered person in September 2020. 1. Amendment in GSTR-1 for FY 2019-20 As per first proviso to Section 37(3) of the CGST Act, 2017, no rectification […]

Disclosure of Ineligible ITC & ITC Reversal in GSTR-3B – Time to change the Practice

August 20, 2020 135063 Views 17 comments Print

GSTR-3B is a summary return which came into existence since GSTR-2 and GSTR-3 never saw the light of the day due to the technical glitches in functioning of Matching System as stated in Sec 42 and Sec 43 of the CGST Act, 2017.  Recently, Rule 61(5) of CGST Rules have been amended vide Notification No. […]

Relaxations in Filing of GSTR-1 and GSTR-3B

June 27, 2020 2754 Views 0 comment Print

Relaxations in due date of Filing of GSTR-1 and GSTR-3B-Article also discusses Conditional Date for Waiver of Late Fee and interest payable beyond Waiver Date. Relaxation are based on following recent GST Notifications and Circulars- Waiver of late fee for delay in filing GSTR-1- March to June 2020 | Notification No. 53/2020-Central Tax/G.S.R. 406(E) Dated: […]

Applicability of RCM on Director Remuneration -Version 3

June 11, 2020 13545 Views 1 comment Print

There has been a big controversy regarding the liability of GST on Directors Remuneration under Reverse Charge. Various conflicting Advance Rulings has been issued by Authority for Advance.

Eligibility of ITC on COVID 19 related Expenses – Potential Bone of Contention Between Assessee& Department

June 5, 2020 16467 Views 0 comment Print

Whether the expenses related to the preventive measures eligible for ITC? The above regulations require business to shell out money on various items like Sanitizers, Masks, Social distancing apps, Medical insurance of workers, Buses for transportation, disinfection of office spaces etc.

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