Goods and Services Tax : Learn about claiming refunds for excess amounts in your GST Electronic Cash Ledger. Understand the process, requirements, and step...
Goods and Services Tax : Section 34(2) of CGST Act allows a supplier to issue a credit note to adjust the taxable value or tax payable in case of: Post-s...
Goods and Services Tax : The Input Service Distributor (ISD) mechanism under GST enables businesses with multiple branches to centrally receive and allocat...
Goods and Services Tax : From April 1, 2025, ISD registration is mandatory for businesses distributing input tax credit on services across multiple offices...
Goods and Services Tax : Understand ITC reversal rules for banks & NBFCs. Compare Rule 38 & Rule 42 for ITC claims, exemptions, and GSTR-3B reporting. Find...
Goods and Services Tax : KSCAA highlights practical GST challenges in Sec 128A & Sec 16(4), urging clarifications on appeals, ITC, interest waivers, and mu...
Goods and Services Tax : Learn about India's efforts to combat fake ITC frauds, including special drives, legal actions, and GST guidelines for enforcement...
Goods and Services Tax : Explore the key recommendations made by the GST Council during its 54th meeting, including changes in GST rates, GoM formations, a...
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 : CBIC detected Rs. 36,374 crore worth of fake ITC in FY 2023-24 involving 9,190 cases. Key measures and data on ITC fraud detection...
Goods and Services Tax : Delhi High Court sets aside GST demand on DLF Home Developers, ruling that the issue will be adjudicated by DGGI. Read details o...
Goods and Services Tax : Gujarat High Court grants bail to Harsh Vinodbhai Patel in GST fraud case involving ₹22 crore input tax credit. Court cites comp...
Goods and Services Tax : Assessee clarified that Form ST-3 was incorrect as some of the invoices inadvertently remained unaccounted for the said period and...
Goods and Services Tax : Kerala HC rules that availing CGST/SGST credit instead of IGST does not lead to revenue loss. Orders reconsideration of penalty on...
Goods and Services Tax : Madras High Court sets aside GST interest and penalty order, citing prior ITC reversal. Petitioner gets a final chance to file obj...
Goods and Services Tax : CBIC unveils trade facilitation measures, combats counterfeit currency, and detects ₹80 crore GST fraud. Key developments from I...
Goods and Services Tax : CBIC clarifies ITC eligibility for goods delivered under Ex-Works contract as per Section 16(2)(b) of CGST Act, 2017...
Goods and Services Tax : The circular clarifies that electronic commerce operators under section 9(5) of CGST Act need not reverse input tax credit for spe...
Goods and Services Tax : GSTN issues advisory on the new Invoice Management System (IMS) for accepting or rejecting supplier invoices, impacting GSTR-2B an...
Goods and Services Tax : CBIC clarifies input tax credit provisions under Section 16(5) & 16(6) of CGST Act, detailing rectification procedures for wrong c...
The uncertainty on whether corporations can avail input tax credit (ITC) for any expenditure made under Corporate Social Responsibility (CSR) is a longstanding one. In the absence of a clear-cut law, corporations have had to rely on specific AAR rulings to ascertain whether they can avail ITC for their CSR expenditure. However, inconsistent findings by […]
A new historical development in Tax regime; especially in Indirect Taxes evolves on 1st July 2017 in the shape of Goods and Service Tax (GST) after number of Constitutional & legislative changes and various Central and State Level Indirect Taxes are merged into a single regime, which is known globally as VAT (Value Added Tax). As […]
The ARA, Rajasthan has pronounced judgment on 8.9.2021, in the case of RSWM Limited, Bhilwara (2021) 36 J.K.Jain’s GST & VR 316, that; ‘The applicant can’t claim ITC of GST charged by the Medical/Health Insurance Company in respect of insurance done for employees’ 1. Background. ─ Per Order No. 40-3/2020-DM-I(A) dated 15th April 2020 issued […]
Thane CGST arrests one person for Input Tax Credit Fraud Of Rs. 90.68 crores In a major drive initiated against fraudsters who are availing and utilizing fake Input Tax Credit (ITC) Thane Central GST Commissionerate, Mumbai CGST Zone has arrested a mastermind who had opened a firm M/s. Doshi Marketing and was operating from Bhayander […]
Recently, many taxpayers have received notices from the GST authorities demanding interest on subsequent reversal of input tax credit (‘ITC’) wrongly availed by them. The said demands are generally pertaining to initial years of GST wherein the lawmakers and taxpayers, both were evolving to adopt the newly introduced statute. Due to the demands pertaining to […]
Is Last Date To Claim ITC For F.Y 2020-21 Over – As Per Advisory Issued By Govt On 17.10.2021? ♦ As per Section 16(4) of CGST Act, 2017, no taxpayer shall take input tax credit in respect records (invoices and debit notes) for supply of goods or services (or both) for Financial Year 2020-21 after […]
Challenge The Validity of Section 16(4) of The CGST Act, When Time Extend to Claim ITC On Inward Supply Is in Force. When the GST Commissioner, extend time limit, to furnish details of inward supply, meanwhile, he himself could restrict time limit under section 16(4), is legally valid ? (a) Vested Rights granted to every […]
GST Department has made it’s stand crystal clear that a tax payer has to strictly comply with provisions of Section 16(2)(c) of CGST Act, 2017 and GST Portal itself will ensure that such ITC is reflected as ITC not available to tax payers.
In re GACL NALCO Alkalies & Chemical Pvt. Ltd. (GST AAR Gujarat) Whether GNAL is entitled to claim Input Tax Credit of the GST paid on the services provided by GACL in the form of agreeing to surrender/ relinquish its rights in the leasehold property in favour of GNAL? Law makes it explicitly clear that […]
The GSTR-1 and GSTR-3B for the Month of September that are to be filed in October holds an importance as it is assumed to be the last date for making entries/amendments for the previous financial year. Now the important question is that what’s the due date for making amendments is for GSTR-1 and claiming ITC […]
