The recent legal dispute regarding Anmol Industries Ltd’s application for an advance ruling on the applicability of an exemption notification issued under the GST Act, and the subsequent rejection of the application by the West Bengal Authority for Advance Ruling (AAR) due to lack of locus standi, followed by the reversal of the rul...

Let’s first understand, what this drive is all about & why is this being started? In the National Co-ordination meeting held on 24th April 2023, various issues in relation to bogus GST registration, fake GST ITC availment & passing, use of forged documents for GST registration etc. were addressed. It was decided in the meeting [...

Goods and Services Tax (GST) system plays a pivotal role in streamlining indirect taxation in India, ensuring transparency and accountability. To further fortify the integrity of the GST framework, the GST Department has recently announced a Special All-India Drive against Fake Registrations....

In an effort to tackle fraudulent invoices and misuse of input tax credit (ITC), the authorities responsible for enforcing the Goods and Services Tax (GST) are pushing for immediate access to taxpayers' banking transactions....

Introduction: The Goods and Services Tax (GST) has revolutionized the indirect tax landscape in India since its implementation. However, many businesses have faced challenges in complying with the GST regulations, leading to non-filing or incorrect filing of returns. To provide relief and encourage compliance, the government has announced...

The GSTR-10 form is a return form filed under the Goods and Services Tax (GST) Act of 2017 in India. It is also known as the Final Return form. GSTR-10 is applicable to taxpayers who have canceled their GST registration or their registration has been deemed as canceled by the tax authorities....

Second proviso to Section 16 entails reversal of ITC on non-payment of consideration for more than 180 days. But do GST authorities really have the authority to instruct business as to what credit period they can give and what they can’t? The relevant amended provisions as on 15-May-2023 are reproduced below for quick reference: 16.R...

1. There will be three types of payment to the Directors by a company. A. As Salary [Employer and Employee Relation] (TDS u/s 192) B. As Remuneration to the director (TDS us/ 194J) C. As a Professional fee for the service rendered in a professional capacity. 2. Compulsory Registration under GST[ Section 24] As per […]...

Special Drive for Fake Registrations- Mitigating impact on Genuine taxpayers Recently, CBIC has issued Instruction No. 01/2023-GST dated 04.05.2023 outlining guidelines for launching Special All India Drive against fake registrations. The tax authorities have been proactive to weed out fake GST registrations from system defrauding exchequ...

Aim of  two-month-long Special All-India Drive against fake GST Registrations is to detect cases of fake and suspicious GSTINs that are fraudulently claiming GST Credit (ITC) without an actual supply of goods or services and take necessary actions to curb such malpractices....