Goods and Services Tax : Understand the new GST adjudication process under Section 74A for determining tax, interest, and penalties from FY 2024-25 onwards...
Goods and Services Tax : Budget 2024 introduces new sub-sections in Section 16 of CGST Act to regularize Input Tax Credit claims past the deadline, aiding ...
Goods and Services Tax : Understand Input Tax Credit (ITC) under GST: Learn about eligibility, conditions, and types of ITC. Stay updated with latest amend...
Goods and Services Tax : Understand the time limit to avail Input Tax Credit (ITC) under Reverse Charge Mechanism (RCM) and the implications for registered...
Goods and Services Tax : Explore the nuances of input tax credit under GST and its commercial expediency, drawing parallels with income tax jurisprudence 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 : Join our live webinar on Block Credit in GST u/s 17(5) to understand ITC, eligibility criteria, and critical provisions. Expert in...
Goods and Services Tax : Meerut CGST Commissionerate exposes a syndicate claiming fraudulent Input Tax Credit of over Rs. 1,000 crore through 232 fake firm...
Goods and Services Tax : Explore the limitations and settlements regarding GST input tax credit, including late fees, penalties, and recent amendments. Dis...
Goods and Services Tax : Rajasthan HC rules on N.H. Lubricants case involving fake firms and ITC claims. Court directs petitioner to seek alternative remed...
Goods and Services Tax : Delhi HC upholds provisional bank account attachment in ITC fraud case. Petitioner failed to prove attachment was unwarranted. Cas...
Goods and Services Tax : Madras High Court orders reconsideration of Silk Junction vs Deputy State Tax Officer case over GSTR 1 and e-way bill mismatch....
Goods and Services Tax : Read the Madras High Court's judgment restoring GST registration due to COVID-19 and ill-health reasons, setting conditions for co...
Goods and Services Tax : Delhi High Court permits Steelmart India to contest GST show cause notice (SCN) despite not receiving the memo, addressing allegat...
Goods and Services Tax : Clarification on the availability of input tax credit for ducts and manholes used in optical fiber cable networks under CGST Act, ...
Goods and Services Tax : Clarification on ITC entitlement for insurance companies on motor vehicle repairs under reimbursement claim settlement as per CGST...
Goods and Services Tax : Explore the detailed minutes and recommendations from a recent Grievance Redressal Meeting chaired by the Principal Chief Commissi...
Goods and Services Tax : Catch up on the latest CBIC updates including legacy cases, gold smuggling bust, GST fraud crackdown, and inspiring achievements. ...
Goods and Services Tax : Understand the procedures for voluntary tax compliance under Sections 73 and 74 of the KSGST Act, 2017. Detailed analysis of Circu...
CBIC make a significant change in the GST law by inserting rule 36(4) of CGST rule 2017 thereby restricting the taxpayers to avail ITC only up to 120% of eligible ITC appearing in GSTR-2A of a particular month and consequently it is very important to reconcile the GSTR 2A every month to maintain the track […]
Ramco Cements Ltd. Vs Commissioner of Central Excise (CESTAT Chennai) Appellants are with the suppliers of fly ash. It is seen that appellants are installing PDFACS systems in the factories of thermal plants and contract for maintenance providing man power etc. is given to the respective suppliers. These suppliers do maintain such systems and transport […]
Clarification regarding New Rule 36(4) of CGST Rules, 2017, Restriction in Availment of Input Tax Credit (ITC) Circular No. 123/42/2019– GST, Dt. 11 Nov 2019 This being a new provision, the restriction is not imposed through the common portal and it is the responsibility of the taxpayer that credit is availed in terms of the […]
GST – Section 79- whether mere admitted liability is enough for invoking the provision under Section 79 of CGST Act – validity of recovery proceedings in the absence of assessment – term amount payable by a person – initiation of proceeding for provisional attachment –
Article explains when Input Tax Credit is not available under GST, What are the exception to rule/provisions of non availability of Input Tax Credit under GST and relevant explanations. Input Tax credit under GST is not available on Motor vehicles for transportation of persons having approved seating capacity of not more than 13 persons (including […]
The provisions of Section 49 was amended and Section 49A and Section 49B were inserted vide Central Goods and Services Tax (Amendment) Act, 2018 [hereinafter referred to as the CGST (Amendment) Act] and came into effect from 1st February 2019. The amendment led to an of accumulation of input tax credit for SGST/UTGST in electronic […]
The restriction of 20% applies with respect to eligible input tax credit available to the recipient in respect of invoices or debit notes the details of which have been uploaded by the suppliers under subsection (1) of section 37 as on the due date of filing of the returns in FORM GSTR 1 of the suppliers for the said tax period.
The government has taken a pre-emptive action to curb incorrect Input Tax Credit (ITC) claims after various frauds were unearthed in the past year on claimed ITC on fake invoices, or through physically non-existent businesses. To ensure, ITC claimed is bona-fide and eligible, a new rule was inserted vide Rule 36(4) on 9th October 2019 […]
Ref: Notification No. 49/2019 – Central Tax dated 9 Oct 2019 which add Rule 36(4) of CGST Input tax credit to be availed by a registered person in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers under sub-section (1) of section 37, shall not exceed 20 per cent. […]
Government now showing full intention to stop ITC leakages and in order to shove taxpayers to timely file their statement of outward supplies, has come up with imposition of restrictions on availment of input tax credit. This means when a supplier does not file its GSTR-1 then receiver will not be able to get its […]
