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 : 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 : Read the Madras High Court judgment allowing Ramco Cements to challenge GST orders on multiple issues, including tax on sale of se...
Goods and Services Tax : Bombay High Court rules on Konkan LNG vs Commissioner of State Tax case, denying GAIL subsidiary input tax credit for breakwater-w...
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...
Allowability of ITC to the Landowner before completion certificate through Notification No 2/2021 & 3/2021 of Central Tax (Rate) As per recommendations of GST council in the 43rd meeting held on 28th May 2021 in relation to allowability of credit of taxes paid by developer to the landowner notified through notification 2/2021 & 3/2021 Central […]
During the ongoing pandemic of COVID 19, various States are again imposing restrictions, curbs and curfews to restrict interaction as a measure to stop spread of the disease. Fortunately, various measures undertaken by government till now are bringing positive results and in the past few days there is a gradual reduction in number of daily […]
♦ Introduction: When a Company’s business activities are distributed evenly across various states both on input side and output side, then the company shall be able to utilise the input-tax credit on inward supplies in each such state while offsetting it against tax on outward supplies made from each such state. However, in many cases, […]
Nothing in the CCR prohibits an assessee from following Rule 6(2) of the CCR in respect of the inputs and input services where it is feasible to maintain separate records and follow Rule 6(3A) of the CCR in case of such inputs or input services where it is not feasible to do so.
In response to outbreak of Covid-19 pandemic, the government has issued various notifications ranging from Notification No. 07/2021-Central Tax dated 27.04.2021 to Notification No. 27/2021-Central Tax dated 01.06.2021 extending certain due dates under GST and granting relief to taxpayers in terms of waiver of interest cost on delayed payment of tax and late fees on […]
As GST sought to consolidate multiple taxes into one it was very essential to have transitional provisions to ensure that the transition to the GST regime is very smooth and hassle free and no ITC (input tax credit)/benefits earned in the existing regime are lost. The transition provisions can be categorized under three heads:
Notification No. 16/2021 – Central Tax Dated 01/06/2021: Appoints 01.06.2021 as the date on which the provisions of section 112 of the Finance Act, 2021 shall come into force – Retrospective amendment in Section 50 of the CGST Act to provide interest on net cash basis w.e.f. 01.07.2017. However, persons who have already paid interest on […]
MMD Heavy Machinery (India) Pvt. Ltd. Vs The Assistant Commissioner (Madras High Court) The case of the petitioner in the present writ petition is that the petitioner had shut down its factory in Ambattur, Chennai in Tamil Nadu and shifted to Sri City, Andhra Pradesh during June 2016 much prior to implementation of GST. At […]
Goods and service tax aims at providing seamless flow of credit throughout supply chain. Input Tax Credit is the backbone of goods and service tax. The term input tax has been defined under section 2 (62) of CGST Act 2017.
CBIC extend the due date for furnishing of FORM ITC-04 for Quarter Ended (QE) March, 2021 to 30.06.2021 vide Notification No. 26/2021 – Central Tax- Dated 1st June, 2021 to give effect to Recommendations of 43rd GST Council Meeting. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs […]
