Goods and Services Tax : The issue was whether buyers can claim ITC when suppliers default on tax payment. The court upheld denial, emphasizing ITC is cond...
Goods and Services Tax : Highlights that system-based NGTP tagging cannot replace proper verification before denying ITC. Key takeaway: factual investigati...
Goods and Services Tax : Courts ruled that denying ITC due to supplier non-payment is unjust when buyers act in good faith. The key takeaway is that bona f...
Goods and Services Tax : This explains how courts have imposed strict safeguards on ITC blocking under Rule 86A. The key takeaway is that due process is no...
Goods and Services Tax : The article highlights how aggressive GST actions impact genuine businesses. The key takeaway is the need for balanced enforcement...
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 : Important change in Table 6 of GSTR-9 for FY 24-25 - Taxpayers can now report ITC of previous financial year that was claimed in ...
Goods and Services Tax : The issue involved alleged cyber fraud where funds were credited to the petitioner’s account. The Court granted relief consideri...
Goods and Services Tax : The Court examined whether ITC can be denied when the supplier fails to deposit tax. It upheld the provision, ruling that ITC depe...
Goods and Services Tax : The Tribunal remanded the case after finding that ITC reversals on unsold inventory were not adequately examined. It directed fres...
Goods and Services Tax : Dispute on ITC mismatch between returns was remitted after ex-parte order, allowing reconciliation upon 10% pre-deposit. Key takea...
Goods and Services Tax : The High Court did not decide the constitutional challenge but directed authorities to reconsider the taxpayer’s objections and ...
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...
Goods and Services Tax : CBIC unveils trade facilitation measures, combats counterfeit currency, and detects ₹80 crore GST fraud. Key developments from I...
Get insights into the latest internal circular issued by the Maharashtra State GST department. Learn about the guidelines for GST return scrutiny for tax periods 2017-18 and 18-19.
Uncover the complexities of availing Bonus ITC under the GST law. Understand the importance of proper tax compliance and avoiding lapsed credits.
New Nalbandh Traders Vs State of Gujarat (Gujarat High Court) Rule 86A has two pre-requisites to be fulfilled before the power of disallowing of debit of suitable amount to the Electronic Credit Ledger or blocking of ECL to the extent of the amount fraudulently or wrongly availed of is exercised. The first pre-requisite is of […]
Finance Bill, 2022 has proposed several changes in CGST Act, 2017 in its clauses 99 to 123. The major amendments are proposed in provisions relating to input tax credit making it more harsh, conditional and restrictive. These changes relate to the following provisions: Clause Amendments in section In relation to 99 16 Eligibility and conditions […]
In India GST was introduced with Four main objectives and one of the topmost objectives was seamless flow of Input credit. The other three were Removing the cascading effect, increasing the tax base and enhancing the tax revenue. In budget speech out Hon. Finance Minister Madam has told the GST has achieved the highest tax […]
CGST Commissionerate, Raigad of CGST Mumbai Zone has busted a fake ITC racket and arrested the proprietor of a Kalamboli based firm M/s. Ashok Metal Scrap. This firm was engaged in availing and passing on of fake GST Input Tax Credit (ITC) of Rs. 12 Crore, by using bogus invoices of more than Rs. 64 Crores.
We are in a State of War with Govt on ITC Mismatch Issue? Here we all professionals and Traders are one side and Govt is at Another side? with Zero Communication between Each Other? Neither Govt wants to handle Recovery from Defaulting Suppliers Nor Recipient can force supplier to pay GST to Govt on Time […]
As the world is changing, young consumers are becoming extremely interested in electronics. People nowadays like to spend a lot of money on technologies that make their lives simpler and smoother. In this post, we’ll look at how Capital Goods are taxed in GST by using the iPhone as an example (Capital Good) MEANING OF […]
भारत में जीएसटी लाया गया था चार मुख्य उद्देश्यों की पूर्ति के लिए लाया गया था जिनमें से इनपुट क्रेडिट का निर्बाध या बाधा रहित होना सबसे बड़ा और प्रमुख उद्देश्य था. टैक्स बेस का बढना, राजस्व की अधिक प्राप्ती और टैक्स पर टैक्स लगना अर्थात कास्केडिंग इफ़ेक्ट को समाप्त करना अन्य बड़े उद्देश्य थे […]
Dee Vee Projects Ltd. Vs Government of Maharashtra (Bombay High Court) Order not specifying amount to the extent to which the ECL has been blocked is Illegal A careful perusal of Rule 86-A would show that there is no specific mention therein about the blocking of the ECL and what is stated is that the […]
