Goods and Services Tax articles

Allowabilty of Input Tax Credit on Lift Under GST

♠ As per Section 16(1) of CGST Act 2017, Every registered taxable person shall, subject to such conditions and restrictions as may be prescribed and within the time and manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services to him which are used […]...

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Extend ITC availment, GSTR-9 & 9C Due dates till 31.03.2021

Request for extension of availing ITC for F.Y. 2019-20 till Mar 2021 return, Continue relaxation in RULE 36 till 31.03.2021 which says that (Taxpayer can avail ITC (+10%) what is reflected in GSTR-2A) and Extend due date of Annual Return in form GSTR 9 & GSTR 9C for Year 2018-19 till 31.03.2021....

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GSTR 2B functionality: All You Need to Know

GSTN has incorporated a new functionality on its portal by enabling GSTR 2B with effect from August 2020. GSTR 2B addresses the difficulties faced by the taxpayers in availment of Input Tax Credit and its reconciliation....

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Refund of input services not available under inverted duty structure – Madras High court

Refund of input services not available under inverted duty structure – Madras High court. Recently a ruling has been passed by Madras High court wherein it has been held that 54(3)(ii) does not infringe Article 14 and thus refund of only inputs is available under inverted duty structure (“IDV”) (section 54(3)(ii). This judgement is ...

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A Critical study of issues involved in Accounting for GST & Reversal of GST u/s 16(2) of GST Act on non-payment of invoice within 180 days

A Critical study of the issues involved in Accounting for GST & Reversal of GST u/s 16(2) of the GST Act on non-payment of invoice within 180 days It is the cardinal principle of law that no one can make either profit or losses from the revenue which he collects on behalf of the government. […]...

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Place of supply | Section 11-12 | IGST Act 2017

Section 11- IGST Act- 2017- Place of supply of goods imported into, or exported from India  The place of supply of goods, –– (a) imported into India shall be the location of the importer; (b) exported from India shall be the location outside India.  Analysis- Place of supply of goods where the goods are imported […]...

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GST Guide for Contractors

What is the rate of GST applicable for providing Contract services? Solution: Basically Contract services qualify for the definition of Works Contract Services under section 2(119) of the CGST Act, 2017 as it has elements of both provision of services and sale of goods. Government had bifurcated the work contract services basically into t...

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A to Z of E-Invoicing Under GST- Detailed Analysis

A2Z OF E – INVOICING UNDER GST Further to my article An Overview of E-Invoicing Under GST, I have received a number of queries related to e-invoicing. In this article, an attempt has been made to compile all the Frequently Asked Questions and their answers suggested by the authorities on various forums. A. BASIC DETAILS […]...

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Power of States for Levy and Collection of GST

In my personal opinion, provisions as recommended by the Goods and Services Tax Council of India (hereinafter referred to as the GST Council) for levy and collection of goods and services tax (hereinafter referred to as the GST) by the States are not in conformity with the relevant provisions of the Constitution of India (hereinafter [&he...

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Tax Deduction at Source under GST- An Additional Nuisance

Under indirect tax laws, concept of tax deduction could be traced in erstwhile State level VAT enactments also. Now, post GST implementation, the concept has also been made applicable effective from October 01, 2018 which is in addition to obligation of deduction of tax at source under direct tax laws....

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September 2020