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...
By way of this Writ Petition the petitioner has challenged the provision of Rule 89(5) of the CGST Rules, 2017 by way of which computation mechanism of the Input Tax Credit to be refunded in case of inverted duty structure has been modified to exclude Input Services from the definition of Net ITC with retrospective effect thereby denying refund of Input Services.
With a lot of hue and cry about 20th Sep ’18 being the last date for claiming the input tax credit (ITC) for the FY 2017-18, there has been an attempt to reconcile the tax credits as per books and that as claimed in Form GSTR-3B.
The functionality of blocking and unblocking Input Tax Credit is an important tool for safeguarding the Government revenue particularly in cases of fraudulent activities by the taxpayers. So the jurisdictional officers are hereby directed to use this functionality for blocking/unblocking Input Tax Credit under the following situations:-
णlosing balance of Cess credit is not transferable as ITC under GST. This article discusses the course of action that the tax payer, who have carried forward the credit requires to take.
In the current article we will discuss about the eligibility criteria involved for claiming input tax credit under GST Introduction As per sec 16 of CGST Act 2017 there are certain eligibility criteria or conditions which are required to be fulfilled for claiming input tax credit under GST. In the current article provisions as per […]
Concerns regarding last date by which everything wrongly done under GST can be undone and every thing which is not done can be done, are looming large midst the professionals facing heat at the crest of their tax audit assignments. This is a comparative view of different provisions of the GST law dealing with the subject so that a considered view , even it at cost of being fair and not correct, may be taken.
CBIC press release dated 18th October 2018 on Last date to avail Input Tax Credit in respect of invoices or Debit Notes relating to such invoices pertaining to period from July, 2017 to March, 2018.
Considering the first year of implementation of GST, major challenge is being faced by the Industry Inc in availing GST input tax credit (ITC) for the financial year 2017-18 after implementation of GST (i.e. July 2017 to March 2018) and lot of divergent views are floating with respect to the last date till which such […]
ICAI Requesed Government for permitting availment of input tax credit under GST pertaining to Financial Year 2017-18 till 31st December, 2018
A common query many people have in their minds which seems to get more and more complicated as different businesses with different situations think over it. This confusion is none other than the very usual mistake of missing out on taking Input Tax Credit. The problem apparently seems to get worse when this missed ITC is of the previous financial year whose books of accounts are closed, finalized and audited from Income Tax Act and Companies Act point of view.
