Recently, many taxpayers in Andhra Pradesh, falling under administrative jurisdiction of State Tax authorities were issued system generated notices in Form ASMT 10 for the period 2017-18 to 2022-23
As per the provisions of Sec 54 of the CGST Act, 2017 read with Rule 89(4) of the CGST Rules, refund of ITC is allowed in case of zero rated supplies made without payment of tax under LUT. As per the formula given under this rule, refund amount is calculated as follows: Refund Amount = […]
On 12th and 13th November 2021, many taxpayers in Telangana, falling under the administrative jurisdiction of State Tax authorities were shocked and surprised to receive an alert in their e mail, that they have been issued show cause notices (Form DRC 01 – demand notices under Sec. 73 of CGST/TSGST Act, 2017) which can be downloaded from their dashboard on GST portal.
