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CBIC vide the notification number 49/2019 inserted the new rule 36(4) which deals with the restriction on ITC for the invoices not reflecting in GSTR 2A. Section 43A has been inserted vide the CGST Amended Act, 2018 which deals with the provision of procedure and furnishing of return which restricts the ITC exceeding 20% of […]...
Read MoreCredit restriction to be calculated Tax head wise or consolidated? A question that is flowing persistently is that is this limit to be calculated Tax head wise i.e. IGST, CGST,SGST separately or on consolidated basis?...
Read MoreGoods and Services Tax (GST) law has completed two years in our Country and entered into third year. Since very beginning there was a demand from various sectors to make this law simple and easy. Though Govt., from time to time made efforts for simplification of this law. But it is a matter of great […]...
Read MoreYou may perhaps be aware that the GST Council in its meeting held on 20.09.2019 at Goa recommended that in the case of registered persons other than body corporate (e.g. proprietorship, HUF or partnership firm) engaged in renting of vehicles and paying 5% GST (without availing ITC), GST should be paid by the recipient of [&h...
Read MoreCBIC make a significant change in the GST law by inserting rule 36(4) of CGST rule 2017 thereby restricting the taxpayers to avail ITC only up to 120% of eligible ITC appearing in GSTR-2A of a particular month and consequently it is very important to reconcile the GSTR 2A every month to maintain the track […]...
Read MoreCertain complaints made yesterday on the social media regarding GSTN system not functioning are incorrect. GSTN assures that the GST Return filing system was working within expected limits. Had it not been so, how more than 11.52 lakh GSTR3B (October) returns could have been filed yesterday on 19th Nov with about 1.82 lakh returns filed i...
Read MoreThe user will be alerted while generating e-waybills in case the entered GSTIN has not filed the Returns for the past 2 successive months as this GSTIN will be blocked for generation of e-way bills ....
Read MoreCentral GST Delhi-West Commissionerate has unearthed racket of issuance of fake invoices without actual supply of goods and services by M/s Royal Sales India and 27 other dummy companies. ...
Read MoreCentral Board of Indirect Taxes & Customs (CBIC) today clarified that salaries are not subject to GST and no GST has been demanded on salaries paid to CEOs or employees. CBIC said that the media report in this regard alleging that tax authorities want to impose GST on salaries paid to employees is factually incorrect and misrepresents tax...
Read MoreCentral GST Delhi North Commissionerate has unearthed a racket of issuance of fake invoices without actual supply of goods and services. Shri Naveen Mutreja and Shri Keshav Ram have been arrested in this matter and remanded to judicial custody for 14 days by the Chief Metropolitan Magistrate (CMM), New Delhi at Patiala House Courts. The [...
Read MoreM/s V.N. Mehta & Company Vs Assistant Commissioner (Madras High Court) - GST - Section 79- whether mere admitted liability is enough for invoking the provision under Section 79 of CGST Act - validity of recovery proceedings in the absence of assessment - term amount payable by a person - initiation of proceeding for provisional attachment -...
Read MoreUnited Projects Vs State of Maharashtra (Bombay High Court) - The petitioners are aggrieved by the refusal of registration of their appeals filed under the Maharashtra Value Added Tax Act since they have not deposited the ten per cent of the disputed amount now mandated under the amended provision of Section 26 of the Act. They have challenged the validity of ...
Read MoreShri Diwakar Bansal Vs M/s Horizon Projects Pvt. Ltd. (National Anti-Profiteering Authority) - Respondent has denied benefit of ITC to the buyers of the flats being constructed by him in his 'Runwal My City' Project in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and has thus profiteered an amount of Rs. 3,20,49,507/- from his customers, hence he has committed an o...
Read MoreF S Enterprise Vs State of Gujarat (Gujarat High Court) - In this case despite the fact that the petitioner had complied with the procedure for movement of goods as stipulated under the GST Acts, by the impugned order, the truck with the goods came to be detained/seized under section 129 of the GST Acts on the ground that the transport receipt was a photoc...
Read MoreIn re Sadguru Seva Paridhan Pvt Ltd (AAR West Bengal) - The Applicant's product, namely fusible interlining cloth, is classifiable under Heading 5903 in Chapter 59 of the First Schedule of the Customs Tariff Act, 1975....
Read MoreTrade Circular (GST) No. 53T of 2019 - (21/11/2019) - From 1st April 2020, taxpayers will be required to file the new GST return & they need to be familiar with new return functionality. Active participation of the taxpayers and GST practitioners in this trial return drive will enable to give their proper feedbacks/suggestions to improve the GST new re...
Read MoreCircular No. 125/44/2019 - GST - (18/11/2019) - After roll out of GST w.e.f. 01.07.2017, on account of the unavailability of electronic refund module on the common portal, a temporary mechanism had to be devised and implemented wherein applicants were required to file the refund application in FORM GST RFD-01A on the common portal, take a print o...
Read MoreCircular No. 124/43/2019 - GST - (18/11/2019) - Vide notification No. 47/2019-Central Tax it is provided that the annual return shall be deemed to be furnished on the due date if it has not been furnished before the due date for the financial year 2017-18 and 2018-19, in respect of those registered persons....
Read MoreNotification No. 56/2019–Central Tax - (14/11/2019) - CBIC issues Notification No. 56/2019–Central Tax dated 14th November, 2019 and Simplifies Annual Return GSTR-9 & GST Audit GSTR-9C vide Central Goods and Services Tax (Seventh Amendment) Rules, 2019. Two significant changes in form GSTR9C are that instead of true and correct now we it specif...
Read MoreNotification No. 55/2019–Central Tax [G.S.R. 849(E).] - (14/11/2019) - CBIC extends the due date for furnishing of return in FORM GSTR-7 for registered persons in Jammu and Kashmir for the months of July, 2019 to September, 2019 vide Notification No. 55/2019-Central Tax dated 14th November, 2019. Government of India Ministry of Finance (Department of Revenue) Central B...
Read MoreTrade Circular (GST) No. 53T of 2019 - (21/11/2019) -
M/s V.N. Mehta & Company Vs Assistant Commissioner (Madras High Court) -
