At the time of introduction of GST i.e. 01.07.2017, it was proposed that pursuant to Section 37 (Furnishing details of outward supplies) read with old Rule 59 (Form and manner of furnishing details of outward supplies) the supplier of the goods or services will furnish the details of invoice or debit note of such supply […]...
Read MoreStatutory Tax Compliance Tracker for December, 2022 explains Compliance requirement under Income Tax act, 1961 and Compliance Requirement under GST, 2017 for the Month of December, 2022. Tax Compliance Tracker – December, 2022 1. Compliance Requirement Under Income Tax Act, 1961 Sl. Compliance Particulars Due Dates 1 D...
Read MoreThe Article explains the meaning of debit note credit note under normal commercial practice Vs under GST Law, definition, Act, Q & A under GST, relevant amendment under GST....
Read MoreAs an important requirement under GST Audit, there was an onus on the professionals i.e., CA/CMA to verify the completeness, correctness, and compliance of the various accounts and records maintained and any deviations thereon need to be reported as an observation, comment, or qualification in Part B of the Form GSTR 9C while certifying t...
Read MoreSection 12 – Time of Supply of goods Meaning of Time of supply – Time of supply of goods means ‘’occasion when we are liable to pay tax on goods as per provisions of law ’’ ♦ Time of supply – Forward Charge Time of Supply will be earlier of – – Date of issue […]...
Read MoreThe gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods)...
Read MoreThe Central Government released an amount of Rs. 17,000 crore to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June, 2022 (State-wise details as per Table below). The total amount of compensation released to the States/UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,66...
Read MoreSh. Milan Tiwari, Inspector of Chennai GST Zone had developed a Web-Application named as GST Doctor which is useful for efficient and holistic analysis of GST-Returns, Invoice-wise data etc. for the purpose of Audit; scrutiny of GST returns; and processing of GST Refunds....
Read MoreMandatory furnishing of correct and proper information of ineligible Input Tax Credit and reversal thereof in Form GSTR-3B That CBIC circular no. 170/02/2022- GST has highlighted incorrect reporting of ineligible Input Tax Credit by Taxpayers. In this context, it has been observed that large portion of unclaimed IGST ITC has led to loss o...
Read MoreGST Council Secretariat, New Delhi MESSAGE It is heartening to see the buoyancy in revenue collection for the past eight months where the monthly GST revenue collections were reported above 1.4 lakh crores. The revenue collection for the month of October, 2022 stood at 1,51,718 crore indicating a 16.6% year-on-year rise as well being th...
Read MoreK. Sanalkumar Vs State Tax Officer (Intelligence) (Kerala High Court) - Kerala High Court proceeding finalized against the petitioner based on certain computer records cannot be challenged before High Court as alternative remedies before the Appellate Authority is available before the petitioner. Matter involving adjudication of facts is not possible under Article 226 o...
Read MoreIn re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) - In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) Q.1: Applicability of GST on transfer of leasehold land which includes other services such as Electricity Line, Water Line, Drainage Line, Road, Sewerage Line etc. like in case of plotted development., Ans: As discussed in forging par...
Read MoreIn re BGR Mining & Infra Limited (GST AAR Jharkhand) - Whether the at Pakur, till the time the railway siding is made operational at the mine, is an independent activity or part of supply of mining service? Activity of transportation of coal from the mine pit-head to the railway siding is an independent activity....
Read MoreJagdalpur Motors Vs Union of India (Chhattisgarh High Court) - Jagdalpur Motors Vs Union of India (Chhattisgarh High Court) HC held that undoubtedly the petition became entitled for submitting of his Form Tran-1 and Tran-2 in terms of the order of the Supreme Court in case of Union of India Vs. Filco Trade Centre (Supra). It is also an admitted factual position...
Read MoreSanathan Textile Pvt. Ltd Vs Union of India (Bombay High Court) - Bombay High Court has held that notification no. 79/2017-Customs dated October 13, 2017 (amending notification no. 16/2015-Customs) granting exemption from the IGST to the capital goods imported under the Export Promotion Capital Goods Scheme is clarifying and curative in nature....
Read MoreInstruction No. 04/2022-GST - (28/11/2022) - Manner of processing and sanction of IGST refunds, withheld in terms of clause (c) of sub-rule (4) of rule 96, transmitted to the jurisdictional GST authorities under sub-rule (5A) of rule 96 of the CGST Rules, 2017-regarding...
Read MoreNotification No. 02/2022-Union territory Tax; [G.S.R. 849(E).] - (25/11/2022) - CBIC notifies member for the Authority for Advance Ruling in the Union Territory of Chandigarh vide Notification No. 02/2022-Union territory Tax | Dated: 25th November, 2022 MINISTRY OF FINANCE (Department of Revenue) New Delhi, Notification No. 02/2022-Union territory Tax | Dated: 25th November, 20...
Read MoreNotification No. 24/2022-Central Tax [G.S.R. 843(E)] - (23/11/2022) - Central Goods and Services Tax (Fourth Amendment) Rules, 2022 – CBIC omitted following GST Rules 122,124,125,134 and 137 vide Notification No. 24/2022 – Central Tax Dated 23rd November, 2022 which are related to National Anti-Profiteering Authority. It ameds rule 127 (Duties of the Authorit...
Read MoreNotification No. 23/2022-Central Tax [S.O. 5450(E)] - (23/11/2022) - CBIC notifies Competition Commission of India to examine whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by him vide Notification No. 23/2022 – Cen...
Read MoreTrade Circular No. 1/2022 - (21/11/2022) - Mandatory furnishing of correct and proper information of ineligible / blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B – instructions...
Read MoreK. Sanalkumar Vs State Tax Officer (Intelligence) (Kerala High Court) -
In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) -
In re BGR Mining & Infra Limited (GST AAR Jharkhand) -
Jagdalpur Motors Vs Union of India (Chhattisgarh High Court) -
Sanathan Textile Pvt. Ltd Vs Union of India (Bombay High Court) -
Rohul Amin Vs State of Assam (Gauhati High Court) -