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...
One of the main objects of GST Law is to avoid the cascading effect of taxes and to ensure seamless flow of credits whereas GST Law includes provisions, restricts admissibility of ITC of goods and/or services. Section 16(1) of the Central Goods and Services Tax, 2017 (CGST Act, 2017) provides provision regarding availment of credit […]
Reconciliation of Input Tax Credit with GSTR-2A for years 2017-18 and 2018-19 – whether mandatory or optional…..? In the draft GST law, there was discussion about availment of Input Tax Credit (ITC) on the basis of GSTR-2. However, due to some practical and technical reasons it was never implemented. Accordingly, it was seen that taxpayers […]
Hello friends greetings for the, in the current article we will discuss blocking of input tax credit (ITC) under section 17 in case of input tax credit which cannot be availed. There has always been ambiguity or confusion regarding ineligible credit as certain terms are not self-explanatory itself. As per section 17(5)(h), the input tax […]
Is it important that you send GST Input Credit differences queries (difference between GST Input Credit as booked by you in your books and available in GSTR2A) to the vendors on timely basis? – so that necessary corrections/submissions can be made by the vendor for you to avail the Input Credit in time. If the […]
Restriction to avail ‘ITC’ under Section 16(2)(aa) & Rule 36(4), if no GSTR-1 is filed by supplier Input Tax Credit (ITC) forms the backbone of GST. It is imperative to streamline seamless flow of credit and any impending issues under ITC must be resolved at the earliest for making GST a Good and Simple Tax. […]
Introduction: Input tax credit (ITC) is backbone of GST as it ensures the critical feature of taxing on value addition in the supply chain. Any action of denying ITC would lead to Cascading effect and kills the soul of GST. Hence, the success of GST heavily depends on the free flow of ITC across the […]
New Restrictive Rule a helpful tool to both Taxpayer & Tax Officer – Implementation of Rule-59(6) on GST Portal The GST portal is being constantly made more resourceful in line with the principal objective of the Government on the aspect of ease of doing business. Ease of doing business has always been the first in order of […]
Narula Menthol Vs UOI & Ors. (Uttarakhand High Court) 1. Hon’ble Uttarakhand High Court has quashed the demand intimation letters issued by the GST Dept. which directed the Petitioner to reverse the ITC amounting to Rs. 1.75 Cr on the basis that the supplier from whom the goods were purchased, has failed to deposit the […]
ITC─Conditions for availment S.16(2) stipulates 4 conditions for taking ITC as under; (a) Possession of tax invoice or debit note; (b) Receipt of goods or services; (c) Payment of tax in cash or through utilization of admissible ITC; (d) Filing of Return u/s 39. This clause starts with non obstante words, viz., “Notwithstanding anything contained […]
Input Tax credit is the heart and soul of GST, the reason for the existence of GST. Determining the admissibility of Input Tax Credit under GST has been a toiling task since beginning and is becoming more and more difficult due to the complexities and genuine bottlenecks/ gaps in the provisions and prescriptions under the […]
