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...
1. The concept of Input Service Distributor (ISD) has its roots in the service tax regime. The Head office of an organization obtains services that are common for all the company’s units located across the country. The supplier of such services issues an invoice in the name of the company’s head office. These services are […]
Section 18- Availability of credit in special circumstances -Simplified (1) Subject to such conditions and restrictions as may be prescribed- (a) A person who has applied for registration under the Act within thirty days from the date on which he becomes liable to registration and has been granted such registration shall, be entitled to take […]
The input tax credit eligibility is based on the fact as to whether the goods or services or both are used for taxable supplies or exempt supplies. Where the goods or service or both are used for both taxable and exempted supplies, only proportionate credit is allowed to a registered person.
TRANSFER OF CREDIT IN CASE OF BUSINESS RE-ORGANIZATION 1) Background In the present scenario, where most of the business organizations are unable to survive alone; on account of the liquidity crunches, weak management, etc; Business Re- Organization; is the need of the hour where most probably the strong concerns have an opportunistic takeover of the […]
GST Series Simplified -Section 16- Eligibility and conditions for taking input tax credit – Input tax credit is backbone of GST ACT so it is very broad concept, I will try to discuss it in a very simplified manner. Section 16(1)- Every registered person shall, subject to such conditions and restrictions as may be prescribed […]
The process of preparing and filing of annual return in GSTR 9 for FY 2018-19 under GST has started and there have been a number of doubts arising as to how to reconcile the Input Tax Credit (ITC) under various tables pertaining to the FY 2018-19, because the GSTR 3B filed for 2018-19 contains rectifications […]
Timely Payment To Vendors Amidst Covid-19 To Avoid Loss of Input Tax Credit- A Challenge Reversal of input tax credit coupled with interest during these days of downturn of the economy due to COVID-19 would make the life of taxpayers gloomy in the circumstances where some business houses are struggling for survival in COVID-19 pandemic. […]
Shri Kamal Nayan Singhania Vs Elegant Properties (National Anti-Profiteering Authority) In this case Respondent has profiteered by an amount of Rs. 1,42,369/- during the period of investigation. Therefore, this Authority under Rule 133 (3) (a) of the CGST Rules, 2017 orders that the Respondent shall reduce the prices to be realized from the buyers of […]
M/s. Brand Equity Treaties Ltd & many other judgments have allowed transitional ITC inspite of non-filing/incorrect filing of FORM GST TRAN-1 on the following grounds: Disallowing ITC would lead to violation of Article 300A of the Constitution of India.
National Anti-Profiteering Authority orders Radicon to pass on Rs. 40,92,054 benefit to buyers. Penalty notice issued for denying ITC benefit.
