"AIJAZ HUSSAIN MALIK, M.PHIL FROM JNU. JKAS OFFICER, STATE TAXES OFFICER, SRINAGAR. "
Jammu & Kashmir posted a 24.1% YoY post-settlement SGST revenue growth in Q1 2026-27, reaching ₹2,505.79 crore despite recent GST rate rationalisation.
Article explains GST TDS under section 51, invoice-wise GSTR-7 reporting from September 2025 and reconciliation issues caused by gross value reporting.
Article explains ITC as a statutory concession under Section 16 and outlines the proposed GST Council safeguard for buyers where suppliers default on tax payment.
Nine years after its launch, GST has unified India’s indirect tax system, digitised compliance, and expanded the tax base. The article also examines the reforms still needed to make GST more efficient.
A supplier cannot issue a GST credit note merely because the buyer has not paid the invoice. The proper remedy is to document the default and rely on ITC reversal provisions under the CGST Act.
The article explains how GST integrated Jammu & Kashmir into India’s common market while improving tax administration, trade, and revenue collections.
The article explains how IMS makes accepted invoice records the basis for ITC eligibility, strengthening compliance, fraud detection, and GST return verification.
