Goods and Services Tax : A supplier cannot issue a GST credit note merely because the buyer has not paid the invoice. The proper remedy is to document the ...
Goods and Services Tax : The article explains how mandatory IMS and the Zero-Mismatch Policy require taxpayers to verify invoices before claiming ITC, maki...
Goods and Services Tax : The article explains how IMS makes accepted invoice records the basis for ITC eligibility, strengthening compliance, fraud detecti...
Goods and Services Tax : The Madras High Court held that retrospective cancellation of a supplier's GST registration alone is insufficient to deny ITC. Aut...
Goods and Services Tax : The article explains why retrospective GST cancellation alone should not result in ITC denial where buyers have complied with Sect...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims based on fake invoices without actual supply of goods or services. The accused was arr...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims exceeding ₹8 crore without actual supply of goods. The ruling highlights that ITC is...
Goods and Services Tax : CGST Delhi South arrested a director for allegedly availing ₹6.53 crore in fraudulent ITC based on bogus invoices worth ₹36.28...
Goods and Services Tax : Government advisories revised the IMS process to stop unfair tax escalation on credit note rejection. The key takeaway is balanced...
Goods and Services Tax : Madras High Court set aside certain GST orders after holding that DRC-01 notice should have preceded adjudication following the ea...
Goods and Services Tax : Odisha AAR held that questions relating to refund of accumulated ITC under Section 54(3) are not maintainable under the advance ru...
Goods and Services Tax : The High Court granted regular bail in a GST fraud prosecution after noting that the investigation had been completed, the complai...
Goods and Services Tax : The SC declined to interfere with the High Court ruling that Rule 86A cannot be used to create a negative Electronic Credit Ledger...
Goods and Services Tax : The High Court held that Rule 86A permits blocking only of input tax credit actually available in the Electronic Credit Ledger. Ne...
Goods and Services Tax : GSTN has launched a standardized Annexure-B Offline Utility for refund applications involving accumulated ITC to enable automated ...
Goods and Services Tax : The portal will restrict GSTR-3B filing if ITC reclaims exceed ledger balances. The key takeaway is mandatory correction of excess...
Goods and Services Tax : The Delhi government allows registered taxpayers to rectify GST orders where previously denied ITC is now eligible under section 1...
Goods and Services Tax : Rajasthan GST circular directs officers to reject Input Tax Credit claims for taxpayers who register after 30 days from becoming l...
Goods and Services Tax : Learn about the Rajasthan Commercial Taxes Department's new directive on verifying and rejecting Input Tax Credit claims for busin...
SC refused to interfere with order passed by Chhattisgarh High Court, wherein bail was denied to accused in alleged matter for availment of wrong ITC, on the ground that investigations were still going on for detecting more fake suppliers and investigations might be hampered if bail was granted.
Introduction of ISD is to distribute input tax credits on services among units of same entity having same PAN which supplies goods or services or both
HC held that Opportunity of hearing to be granted before denying ITC if sufficient documents available to show genuineness of transactions
SC set aside the condition imposed by Chhattisgarh HC, of depositing INR 70 Lakh for grant of bail in a matter of wrongful availment of ITC
There are certain goods or services on which Input tax credit can never be claimed as laid down under section 17(5) of CGST Act,2017. These type of goods or services are called as Blocked credit
Explore the complexities of Input Tax Credit (ITC) restrictions due to Place of Supply (PoS) rules in the recent GSTR3B form changes. Understand the impact on businesses and the need for careful compliance.
Get clarity on Input Tax Credit (ITC) mismatch for FY 2017-18 & 2018-19 with Circular No. 183/15/2022-GST. Explore draft certificates for ITC confirmation, designed for both CA/CMA and vendors. Stay compliant and resolve discrepancies with the provided templates.
Putting the responsibility on the shoulders of the buyers or the Chartered Accountant or Cost Accountant of the supplier is incorrect. The GST authorities are so unequipped that they can catch the persons who have not paid the taxes.
Understand the implications of the second proviso to Section 16 of the CGST Act and CGST Rule 37, where recipients failing to pay suppliers within 180 days must reverse input tax credit. Learn about interest requirements and the relief provided for related and distinct persons, allowing them to avail input tax credit without making payments for supplies among themselves.
Understand the implications of non-payment of tax by suppliers and the new Rule 37A introduced by CBIC. This rule, effective from December 26, 2022, mandates the reversal of input tax credit (ITC) by a registered person if the supplier fails to file the GSTR-3B for the corresponding tax period.
