CA, CS, CMA : From April 1, 2025, businesses with multiple GST registrations must obtain ISD registration to distribute Input Tax Credit (ITC) a...
Goods and Services Tax : Exploring challenges in availing Input Tax Credit (ITC) under GST and relief offered by Notification 183/2023. Understand the impl...
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 : 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 : Calcutta High Court permits ITC claim under amended GST law, allowing rectification applications for late GSTR-3B filings for FY 2...
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 : 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 issue under consideration that whether the Department was justified in disallowing the refund of claim on the ground that the petitioner was still in business and was adjusting the amount regularly?
If the facility provided by a taxpayer for transportation of employees is not obligatory under any law, for the time being in force then no ITC will be available to such a taxpayer. The applicant will however be eligible to claim ITC for the service supplied at 12% GST Rate if the conditions laid down in the second proviso to section 17 (5)b are satisfied.
The ITC saga With a view to keep tab on those errant taxpayers who are claiming excess input tax credit (ITC), the Government has brought in regulations to ensure that ITC can be claimed only to the extent of the credit reflecting in their GSTR-2A. This regulation may result in undue hardship to many tax […]
Cross Charge Vs Input Service Distribution – ISD is not a substitute for Cross Charge and Vice-Versa Goods & Services Tax (GST) is one of the biggest tax reformations in Indian Indirect Tax History. With this reformation there are many unsolved issues which are still exist even after 3 years of implementation of GST Law. […]
Exports play a pivotal role for building an economy as it helps in influencing the level of economic growth, employment and the balance of payments. GST law provides copious benefits to exporters, however in the meanwhile we will analyse how the Indian Government has discouraged the same by modifying definition of turnover of zero-rated supply […]
Input tax credit has been defined as per Act in our previous article. It means the credit of Input Taxes paid on inputs, capital goods and input services. The Input tax in relation to a registered person, means the Central-tax (CGST), State-tax (SGST), Integrated-tax (IGST) and Union Territory Tax (UTGST) charged on any supply of […]
1. Input tax credit to be availed by a registered person in respect of invoice or debit note, the details of which have not been uploaded by the supplier under section (1) of section 37 shall not exceed 20% of the ELIGIBLE CREDIT available in respect of invoices or debit notes, the details of which […]
it clearly stands established that the services of the Contractor for hiring of buses/cars for transportation of employees qualify as ‘rent-a-cab’ services. Further, if same is obligatory for an employer to provide to its employees under any law for the time being in force, so Input tax credit is not allowed in the case of Rent A Cabe service, firstly we have to pass the test of rent a cab, if same is comes within the preview, ITC is not allowed.
In this period of economic difficulties, it is imperative for each business to evaluate possible measures to reduce the cost. One should closely look at all expenditure where input tax credit has not been taken in the past to evaluate if there exist possibilities of availing due to change in the law or judicial developments.
For Real Estate Sector, one of the most important aspect after introduction of Goods and Services Tax Act, is to calculate ‘Eligible Input Tax Credit’.
