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...
Many a time we have seen that people buys capital goods, take its Input Tax Credit (ITC) and then sale the asset after sometime. Now the question here is whether there is any need to reverse the ITC already taken at the time of purchase? In this article we will understand the answer of this […]
DGGI Gurugram officials bust nexus of 93 fake firms issuing fake input tax credit invoices of Rs 491 crore, arrest one The Gurugram Zonal Unit (GZU) of Directorate General of GST Intelligence (DGGI), has arrested one person on 18.01.2022 under the provisions of the GST Act on charges of running multiple fake firms on the […]
DGGI Ghaziabad officials bust bogus network of 275 firms involving fake invoices of more than Rs 3,100 crore The Directorate of Goods and Service Tax Intelligence, Ghaziabad Regional Unit has busted a syndicate involved in creating and controlling fake firms and issuing of bills by these fake firms without supply any Goods or Services and […]
Rajasthan High Court upheld the provisions w.r.t claiming of refund of unutilized Input Tax Credit (ITC) and asked the department to pass final order after taking into account the reply of the assessee.
CESTAT set aside the order passed by the Revenue Department rejecting the appeal filed for refund claim by the assessee. Held that, the refund claim of input services under GST cannot be denied solely on technical reasons.
The officers of Bhiwandi Commissionerate of CGST Mumbai Zone have arrested a businessman was running a Fake GST Input Tax Credit racket. Acting on an intelligence from Central Intelligence Unit of Mumbai CGST Zone, the officers initiated coordinated action at different locations in Thane, Bhiwandi, Raigad and Mumbai and detected GST evasion of Rs 11.4 crores through generation and passing of fake ITC through intricate web of bogus billing of more than 63 Crores.
In re Vishnu Chemicals Limited (GST AAAR Andhra Pradesh) The tax invoice dated 01.04.2020 issued by the supplier of service for the rental service supplied for the period 01.04.2018 to 31.03.2019 is hit by the limitation for claiming ITC under Section 16(4) of the CGST/SGST Act, 2017. The appellant is not eligible to claim Input […]
Input tax credit means credit of ‘input tax’- Section 2(56) of the CGST Act, 2017. Input Tax Credit is the core concept of GST as GST is destination based tax. There are certain anomalies between the act and the rule which are creating practical problems in availing ITC. Input tax credit means credit of ‘input […]
Point to be considered on these days notice served under sec.73 and 74 of CGST Act, 2017 (here Section 73 of the CGST Act, deals with the cases where any taxes has not been paid or short paid or erroneously refunded, or where input tax credit has been wrongly availed or utilised for any reason, […]
Background of ITC In India, Indirect taxes are the major source of revenue for government. Indirect Taxes are the backbone of India’s economy. However, earlier tax regime had few drawbacks like cascading effect and multiple taxes. In order to overcome such problems, major reforms have been made in IDT Regime which is as follows: 1. […]
