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The High Court held that prolonged failure to file GSTR-3B returns and pay GST can justify action under Section 74. Delayed payments from clients do not excuse statutory GST compliance.
Understand the time limit to avail Input Tax Credit (ITC) under Reverse Charge Mechanism (RCM) and the implications for registered and unregistered suppliers.
Explore the reversal of Input Tax Credit (ITC) on High Sea Sales under Section 17(2) of CGST Act. Understand the provisions and implications of this regulation.
Introduction: The assessment of non-filers under Section 62 of the Central Goods and Services Tax (CGST) Act is a crucial aspect of ensuring compliance. This article delves into the procedures outlined in Section 62, detailing the consequences for registered individuals who fail to furnish returns as mandated by the Act. Where a registered person fails […]
Section 17(5)(b) of the CGST Act and its implications on input tax credit (ITC). Know what’s covered and what’s not in this comprehensive guide.
Explore the conditions for tax-free export supplies under Rule 96A of CGST Rules, 2017. Learn about the significance of Form GST RFD-11, export timelines, payment requirements, and consequences of non-compliance. Understand how non-compliance affects the ability to export under a bond or Letter of Undertaking (LUT) and the process for restoration.
Understand the implications of the second proviso to Section 16 of the CGST Act and CGST Rule 37, where recipients failing to pay suppliers within 180 days must reverse input tax credit. Learn about interest requirements and the relief provided for related and distinct persons, allowing them to avail input tax credit without making payments for supplies among themselves.
Get a clear understanding of the time limit for GST audit under Section 65 of the CGST Act. Find out how long the audit process can take and the conditions for extension.
Learn how to calculate interest on delayed GST payments with examples. Understand the method prescribed by CGST Rule 88B for late filing of returns.
Rule 86B restricts the utilisation of input tax credit available in the electronic credit ledger. Even though the supplier remits the full tax to the government, this rule restricts the recipient from utlising the credit to discharge the output tax liability in excess of 99%.
