Vetrivel Explosives Pvt. Ltd. Vs Union of India (Madras High Court) Judgement The Madras High Court has held that credit which remained unutilized on the date of accident in the regular returns filed by the Petitioner, shall be allowed to the Petitioner either by way of suitable credit entry in the electronic cash register of […]
Understanding the sustainability of blocking input tax credit in Electronic Credit Ledger without reasons under Rule 86A.
The Central Government vide Notification No. 39/2021 – Central Tax dated 21.12.2021 seeks to bring into force certain clauses of Finance Act, 2021 prospectively from 1st January 2022 and some clauses which are effective retrospectively from 1st July 2017. Summary of the analysis of amendments are as follows: Amendment to Section Clause as per Financial […]
CBIC vide Notification No. 37/2021–Central Tax dated 01.12.2021 makes the following amendments in Form DRC-03: In the heading, after the words ‘or statement’, the words, letters and figures ‘or intimation of tax ascertained through FORM DRC-01A’ shall be inserted; Intimation of payment made voluntarily or made against the show cause notice (SCN) or statement or […]
No requirement of Dynamic QR Code if the payment is received by the supplier, in convertible FOREX or in INR wherever permitted by the RBI Doubt have arise whether the relaxation from the requirement of dynamic QR code on the invoices would be available to such supplier, who receives payments from the recipient located outside […]
SCN Quashed – Denial of ‘transitional credit’ of cesses on basis that Explanation 3 to Section 140 – Godrej & Boyce Mfg. Ltd. (Bombay High Court) Ruling delivered recently by the Bombay High Court in case of Godrej & Boyce Mfg. Co. Ltd. (‘Petitioner’/’Godrej’). Background of the Case: The Petitioner had sought relief from the […]
The Central Board of Indirect Taxes and Customs (CBIC) on 20.09.2021 issued the following clarifications vide Circular No. 159/15/2021-GST, Circular No. 160/16/2021-GST and Circular No. 161/17/2021-GST Dated 20th September 2021 – Circular No. Title / Query / Representations Clarifications 159/15/2021-GST Clarification on doubts related to scope of “Intermediary” Definition of “intermediary” under IGST Act as […]
New functionalities deployed on the GSTN portal in the month of July 2021 1. Submission of a complaint in case of misuse of PAN > Do a Search by PAN functionality on GSTN Portal and check all the registrations available/ taken in GST, linked to that PAN. > You can now submit an online complaint, in […]
