It is worthwhile to note that the ITC on sanitizers/mask/gloves etc. are neither tested in GST nor any clarification is provided by GOI amid COVID-19 pandemic, which is need of the time. Therefore, opening up pandora box on the availability of input tax credit these essential items during COVID-19 pandemic which are undertaken by the trade and businesses to comply with the directives of safety and protection mandated under law for the time being in force.
CBIC issues Notifications relating to filing of returns under GST Central Board of Indirect Taxes and Customs has issued Notifications 44–48/2019 Central Tax dated 9 October 2019 relating to filing of returns under Goods and Services Tax (GST). The key changes are as follows: Notification no. 44/2019-Central Tax dated 09 October 2019 CBIC vide said […]
Effect of Notification 49/2019–Central Tax dated 9 October 2019 i.e. restriction on availlment of input tax credit (ITC) Central Board of Indirect taxes and Customs restricts availment of input tax credit to recipient if details not furnished by supplier in Form GSTR-1 CBIC has issued Notification No. 49/2019–Central Tax dated 9 October 2019 amending the […]
