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 CGST Act, 2017 read with respective State GST Act(s), has been enacted with one of its main objectives being to ensure a continuous flow of input tax credit at each stage of value addition. In this regards, certain relevant provisions of the said Act have been produced below for reference.
Bharat Raj Punj Vs Central Goods And Service Tax Commissionerate (Rajasthan High Court) HC held that Looking to the over all facts and circumstances of the case, gravity of the offence specially the fact that there are serious allegations against the petitioner of wrong availment of input tax credit of more than Rs. 40.53 Crores […]
Paharpur Cooling Towers Ltd. Vs Union of India & Ors. (Calcutta High Court) In the present case learned advocate appears on behalf of petitioner and submits, in transition to GST regime there was clerical error made by his client assessee, resulting in claim of short credit on transition. Since it is by result of clerical […]
Article on impact of circular No. 123/42/2019 –GST dated.11.11.2019 (Restriction in availment of input tax credit of sub-rule (4) of rule 36 of CGST Rules, 2017) under GST Law, 2017) on business community under GST Scenario. Dear Colleagues, good morning. You are all aware that CBIC has given Circular on Restriction in availment of input […]
Sh. Kavi Mahajan Vs M/s Heeranandani Realtors Pvt. Ltd (National Anti-Profiteering Authority) Respondent has benefited from the additional ITC to the extent of 10.66% of the turnover during the period from July, 2017 to August, 2918 and hence the provisions of Section 171 of the CGST Act, 2017 have been contravened by the Respondent as […]
Article explains What’s the restriction on Input Tax Credit under GST, On what Invoices/debit notes is the restriction on Input Tax Credit under GST imposed, Calculation of restriction of Input Tax Credit under GST, Amount of ITC to be availed under GST, What would be the impact of the restriction on Input Tax Credit under […]
20% CAPPING OF ELIGIBLE CREDIT IN GSTR 2A Amendment to Rule 36(4) Of CGST Rules 2017 Vide Notification No. 49/2019 – Central Tax 09-10-2019 on 20% ITC Restriction Guided by Circular No. 123/42/2019– GST 1) Ques :What is 20% Restriction on ITC as per Notification No 49/2019 ? Ans :Input tax credit to be availed […]
Q. Whether the Input Tax Credit of Central Tax Paid in Haryana be Available to the Applicant who is Registered in Rajasthan State? In other words, ITC of the Central tax charged in Haryana is not available as in this case both the location of the supplier and the place of supply of the services are in the State of Haryana.
Clarification of GST Rule 36(4)- Circular No.123/42/2019 dated 11/11/2019 – Central Tax The newly inserted Rule 36(4) provides that a taxpayer can avail ITC pertaining to outward supplies not declared by his supplier in Form GSTR-1 only to the extent of 20% of the eligible credit available in respect of invoices declared by his supplier in […]
Provisions which grant exemption from tax or which allow benefit of input tax credit adversely affect revenue receipts from goods and services tax. Therefore, while preparing draft of goods and services tax (GST) laws, due precautions are required to be taken. In my opinion, some of the provisions related to availability or admissibility of input […]
