Goods and Services Tax : A supplier cannot issue a GST credit note merely because the buyer has not paid the invoice. The proper remedy is to document the ...
Goods and Services Tax : The article explains how mandatory IMS and the Zero-Mismatch Policy require taxpayers to verify invoices before claiming ITC, maki...
Goods and Services Tax : The article explains how IMS makes accepted invoice records the basis for ITC eligibility, strengthening compliance, fraud detecti...
Goods and Services Tax : The Madras High Court held that retrospective cancellation of a supplier's GST registration alone is insufficient to deny ITC. Aut...
Goods and Services Tax : The article explains why retrospective GST cancellation alone should not result in ITC denial where buyers have complied with Sect...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
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 : Madras High Court set aside certain GST orders after holding that DRC-01 notice should have preceded adjudication following the ea...
Goods and Services Tax : Odisha AAR held that questions relating to refund of accumulated ITC under Section 54(3) are not maintainable under the advance ru...
Goods and Services Tax : The High Court granted regular bail in a GST fraud prosecution after noting that the investigation had been completed, the complai...
Goods and Services Tax : The SC declined to interfere with the High Court ruling that Rule 86A cannot be used to create a negative Electronic Credit Ledger...
Goods and Services Tax : The High Court held that Rule 86A permits blocking only of input tax credit actually available in the Electronic Credit Ledger. Ne...
Goods and Services Tax : GSTN has launched a standardized Annexure-B Offline Utility for refund applications involving accumulated ITC to enable automated ...
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...
Annual Return is a form where any assessee is required to fill it with department annually but assessee has also given chances to correct the output tax liability and input tax through filing of form annual return GSTR-9. Annual Return GSTR-9 is not sufficient if we have filled and reversed the INPUT Tax and shown […]
In the ongoing drive to counter the menace of fake billing operators, information from analytics tool NETRA (Network Exploration Tool for Revenue Augmentation), was developed by the officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi East to unearth a network of fictitious firms used to generate and pass on fake Input Tax Credit (ITC) of Goods and Service Tax (GST).
Madras High Court quashes communication rejecting GST credit claim. Petitioner’s efforts to upload details noted. Order directs Form TRAN-1 uploading within eight weeks.
CGST Ghaziabad unearthed GST evasion of approx Rs 37 Cr. linked with availment of fake ITC through chain of non-existent firms. Subsequent to this, the proprietor of the firm was arrested. Further investigations are underway. PRESS NOTE ONE PERSON ARRESTED IN CASE, OF FRAUDULENT AVAILMENT OF ITC OF RS. 37.14 CRORES ON THE BASIS OF […]
A plain reading of rule 86A signifies that the intention of the Government is only to curb the menace of availing fraudulent credit but it has many unintended ramifications. There is also no clarity on the scope of the term ‘Reason to Believe’ in the given Rule 86A in sub-rule (1)(b)
Madras HC in D.Y.Beathel Enterprises Vs State Tax Officer quashes GST orders due to non-examination of sellers and non-initiation of recovery action. Fresh enquiry ordered, emphasizing the seller’s accountability under Section 16 of CGST Act, 2017.
In order to avoid fake invoicing and curb tax evasion the Central Board of Indirect Taxes and Customs (CBIC) has introduced new rule 86B vide notification number 94/2020 dated 22nd December, 2020. Rule 86B is made effective from 1st January 2021 wherein the registered person shall be required to pay 1% of GST liability in cash […]
Recently, the Union Budget 2021, presented on 1st February 2021, has come up with the proposal of satisfaction of one more additional condition for availing Input Tax Credit under Goods and Services Tax (i.e., GST). Accordingly, the provisions of section 16 of the Central Goods and Services Tax Act, 2017 covering eligibility and conditions for […]
In this article we are going to discuss about hardships faced by the Tax payers due to delay in filing of GSTR 1 Return by GST Registered Government undertaking, after the amended Rule 36(4) of CGST Rules and not reflected in GSTR 2B.
Ever since introduction of the GST Law, Input Tax Credit (ITC) has been the most debated topic and a lot of confusion and disputes are revolving around the subject of availment of ITC.
