Goods and Services Tax : Explore the nuances of input tax credit under GST and its commercial expediency, drawing parallels with income tax jurisprudence a...
Goods and Services Tax : Explore challenges and solutions in GST Input Tax Credit reversal compliance, focusing on the intricacies of Section 15(3)(b)(ii) ...
Goods and Services Tax : Understand the Inverted Duty Structure in GST and how to claim refunds on unutilized Input Tax Credit (ITC). Explore detailed insi...
Goods and Services Tax : Explore how taxpayers can manage GST liabilities with Form GST DRC-20 under Section 80. Learn about instalment options, eligibilit...
Goods and Services Tax : Discover the challenges faced by dealers when GST ITC is blocked. Learn expert advice, legal insights, and potential actions to re...
Goods and Services Tax : Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC co...
Goods and Services Tax : Join our live webinar on Block Credit in GST u/s 17(5) to understand ITC, eligibility criteria, and critical provisions. Expert in...
Goods and Services Tax : Meerut CGST Commissionerate exposes a syndicate claiming fraudulent Input Tax Credit of over Rs. 1,000 crore through 232 fake firm...
Goods and Services Tax : Explore the limitations and settlements regarding GST input tax credit, including late fees, penalties, and recent amendments. Dis...
Goods and Services Tax : Explore how the implementation of GST in India has affected income inequality and living standards. Analysis of tax collection imp...
Goods and Services Tax : Read the detailed analysis of Ravi Chitra Vs Assistant Commissioner (ST) at Madras High Court. Case involves GST liability due to ...
Goods and Services Tax : Read the detailed judgment of Madras High Court criticizing the GST Department's handling of e-invoice and e-way bills in M. R. V....
Goods and Services Tax : In Sri Velavan Traders Vs State Tax Officer (Madras High Court), understand why GST-registered entities must respond to show cause...
Goods and Services Tax : Understand GST ITC eligibility on wires/cables & equipment for electricity transmission. Detailed analysis of Gujarat AAR ruling o...
Goods and Services Tax : Explore the Madras High Court's ruling on Tvl. Moon Labels Vs Government of India regarding procedural errors in ITC transitioning...
Goods and Services Tax : Clarification on the availability of input tax credit for ducts and manholes used in optical fiber cable networks under CGST Act, ...
Goods and Services Tax : Clarification on ITC entitlement for insurance companies on motor vehicle repairs under reimbursement claim settlement as per CGST...
Goods and Services Tax : Explore the detailed minutes and recommendations from a recent Grievance Redressal Meeting chaired by the Principal Chief Commissi...
Goods and Services Tax : Catch up on the latest CBIC updates including legacy cases, gold smuggling bust, GST fraud crackdown, and inspiring achievements. ...
Goods and Services Tax : Understand the procedures for voluntary tax compliance under Sections 73 and 74 of the KSGST Act, 2017. Detailed analysis of Circu...
Background The Goods and Services Tax (GST) was implemented in India on 1st July, 2017. It has been four years since the GST unified most of the indirect taxes laws in India. As it subsumed multiple taxes such as service tax, central excise and value added tax with aims to eliminate the cascading effect of […]
Tax Bar Association Ref: 005/2021 (Date: 25th July 2021) To The Hon’ble Chief Commissioner State Taxes Kar Bhawan Ambedkar Circle Jaipur Sub: – Request for clarification of category of outstanding demand or disputed demand with reference to the Amnesty Scheme -2021 Reference: Notification No. No.F.12(29) FD/Tax/2021-269 dated 24th February 2021 Dear Sir, At the outset, we […]
Federation of Indian Small Scale Battery Associations (Regd.) and Anr. Vs Union of India and ORS. (Delhi High Court) Here the main question to answer by the court is whether it can be permitted to deny ITC to recipient for the fault of supplier? Via this petition, challenge has been laid to the constitutional vires […]
On data analysis it was found that there were considerable gaps in the input tax credit available in GSTR-2A as compared with actual tax credit availed in GSTR-3B of M/s Shri Krishna Enterprises (Prop. Krishan Deep Garg), Gurgaon. It was also observed that there was a large accumulation of input tax credit of CESS for the said taxpayer.
GST (Goods and Service Tax) is four year old now and right from its inception we have seen lot of changes and amendments in the law. Now, most of the taxpayers are familiar with GST Laws, processes and procedures in GST and are moving smoothly as it becomes older and more streamlined. The present article […]
GST brought many benefits to the businesses and economy of our country. Among all other benefits, one benefit which was emphasized at the time of its introduction was ‘Seamless flow of credit’. Provision under GST Law has been enacted in such a manner to achieve the said objective. However, there is still a need for […]
Section 47 and 50 of CGST Act, 2017 deals with the late fee and interest payable under the CGST Act respectively. The Government introduced some amendments in Section 47 of CGST Act, 2017 to benefit the taxpayers by reducing the maximum cap of late fee. Here in this article, we will deliberate about the recent […]
How to match the books of accounts input tax credit balance with GST Credit ledger who opts QRMP scheme. (Assumption that the tax payer will pay the tax on the basis of self-assessment method) Registered tax payer has paid the tax through GST PMT 06 for one month after considering input tax credit available. althotogether […]
Availment of ITC Credit for the Month of June-2021-How to Calculate 5% Provisional ITC in Form GSTR-3B as per the CGST Rule 36(4) Rule 36(4) restricts the availment of input tax credit beyond 5% of the ITC reflected in Form GSTR 2A/2B. However, as per Notification No. 13/2021-CT dated 1st May 2021 as amended by […]
In re Vishnu Chemicals Limited (GST AAR Andhra Pradesh) No ITC on invoices raised for the past period as hit by Period of Limitation The AAR, Andhra Pradesh, in the matter of M/s. Vishnu Chemicals Limited, [AAR No.21/AP/GST/2021 dated July 20, 2021] has held that no Input Tax Credit (“ITC”) on monthly rental tax invoices raised after […]
