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...
By no stretch of imagination Form VAT 240 can be treated as a returns for the purposes of claiming input tax credit, especially in the light of the fact that filing of returns to compute the net tax liability has to take place keeping in view Section 10(3) and 10(4) of the KVAT Act.
It is submitted that a new clause (aa) to sub-section (2) of section 16 of The Central Goods and Services Tax, Act, 2017 (CGST Act, 2017) is being inserted in Finance Bill, 2021. Please note that these proposals will come into effect from a date to be notified later. It is stated that Sections 2 […]
This GSTR-3B calculation Sheet can be used to calculate Monthly GST liability along with late fees and Interest if Any. In this calculation sheet Set-Off of GST done Automatically as per provisions of Section 49(5), Section 49A, Section 49B, Rule 88A and Circular No. 98/17/2019 GST Dated. 23.04.2019. Here on the Following basis GST Set-Off […]
Rule 86B has undergone severe criticism from various stakeholders ever since the same has been notified by the Government. It puts a restriction on the amount which can be used from the electronic credit ledger while making the payment of output taxes. Through this article, the author purports to analyze the provisions and its practical […]
Rule 86A has been inserted in CGST Rules, 2017 through a notification dated 26-12-2019. Without doing the academic exercise that whether a rule through notification is sustainable without amendment made in the main statute, this paper is a humble attempt to examine the scope of the aforesaid rules for the purpose of blocking of the input tax credit availed bonafidely and legitimately .
Rule 86B is not applicable to the registered person even if the value of taxable supply other than EXEMPT supply & Zero-rated supply in a month exceeds fifty lakh rupees (50 Lakhs) provided following conditions are satisfies.
Filed your GSTR-1? Yes, check whether your supplier filed it or not before claiming ITC under GSTR-3B Presenting the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman said that the Budget proposals for this financial year rest on six pillars — health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India, […]
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 […]
As you are aware, though the general rule in GST is free flow of input tax credit (ITC),it is not available in respect of certain inward supplies of goods or services as per section 17(5) of the GST Acts. These are commonly known as blocked credits. The statutory provisions are explained below for reference:
Gujarat HC: Directed Revenue to unblock ex-Director’s ITC to recover Company’s VAT dues The Hon’ble Gujarat High Court in Nipun A. Bhagat v. State of Gujarat[R/Special Civil Application No. 14931 of 2020, dated January 4, 2021] directed the Revenue (Respondent) to unblock the ITC lying in the electronic credit ledger of Nipun A. Bhagat (Petitioner), […]
