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 Central Board of Indirect Taxes and Customs, on the recommendations of the GST Council, had released a notification (94/202-Central Tax) on December 22,2020 making a number of crucial amendments to the Central Goods and Service Tax Rules, 2017. The said amendments caused a disruption in the business community, who were worried that the amendment […]
The GST Council’s meeting, the first in the year 2021, comes at a time when the country is reeling under the second wave of coronavirus infections. Finance Minister Nirmala Sitharaman chaired the 43rd GST Council meet on 28th May 2021 after a gap of almost eight months amid the second wave of the COVID-19 pandemic. […]
Goods & Services Tax is a very comprehensive indirect tax levied on the supply of goods and services in our country. It was launched countrywide on July 1, 2017, by the President of India. GST was brought in as a revolutionary change and India’s biggest tax system overhaul with one of the essential objectives of […]
Rahul Agencies Vs Union Of India (Rajasthan High Court) 1. To issue notices to respondents wherein validity of Section 16(2)(c) read with Rule 86A are challenged. 2. A Division Bench of the Rajasthan High Court issued Notices to Respondents including Finance ministry on Section16(2)(C) which provides that input tax credit (ITC) must be allowed to […]
Seema Jain Vs Joint Commissioner Central Goods And Service Tax Ludhiana (Punjab & Haryana High Court) FULL TEXT OF THE JUDGMENT/ORDER OF PUNJAB AND HARYANA HIGH COURT Prayer in this petition is for grant of anticipatory bail to the petitioner for offences under Section 132 (1) (b) & (c) punishable under Section 132 (1) (i) […]
With reference to the Advance Ruling In re Aristo Bullion Pvt Ltd (GST AAR Gujarat), as ruled by the Gujarat Authority for Advance Ruling, the applicant cannot use the input tax credit balance available in the Electronic Credit ledger, from the purchase of inputs used for the outward supply of bullions, against the outward supply […]
This is an attempt to briefly discuss the provisions with regards to issuance of credit note in case of exempt supply and simultaneous reclaiming/reavailing of input tax credit under GST regime. Question: Taxpayer has entered into an arrangement for rendering of exempt supply of service to a government entity which has been notified as exempt […]
After 1 month on 01/07/2021 ” GST Act , 2017″ will celebrate its 4th anniversary, but after being most complicated and confused taxation system still dependent on plethora of department rulings due to lack of technical and theoretical intricacies. Among all of the complication, the Input Tax Credit on supply of goods & services to […]
No need to do reversal of ITC in case Zero rated supplies even if final product is nil rated supplies As we all know that under section 17 (2) of the CGST Act, where the goods or services or both are used by the registered person partly for the purpose of effecting taxable supplies including […]
♦ A taxpayer is entitled to refund of tax wrongly paid or paid in excess (other than zero-rated supplies), in the same mode by which the tax liability was discharged. ♦ The cash part has to be sanctioned and credited to the bank account of the taxpayer by Form RFD-05 & ♦ ITC part should […]
