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...
Interest Whether on Gross or Net GST Dues?? HC Ruling and Additional Contentions 1. Recently, Telangana High Court in the case of Megha Engineering & Infrastructures Ltd. v. The Commissioner of Central Tax and others (Writ Petition No. 44517 of 2018) held that in the event of the delayed filing of the return, the interest […]
The registered taxpayer under GST is very much concerned about the ITC utilization rules since dealing with three types of ITC i.e. ITC of IGST, CGST and SGST. The taxpayer has already seen various amendments in the utilization rule which directly affects its finance. The amendment in ITC utilization rule, vide insertion of section 49A, […]
Manner of ITC Reversal of Common credit of Input and Input Services In GST Law provision has been made for reversal of ITC of Common credit of Input and Input Services used commonly between Taxable Business Supplies, Non business Supplies and Exempt Supplies . Below is the clarification with example on the relevant provision:- Common […]
We know that ITC (Input tax Credit) plays a very vital role in GST and avoids cascading effect to a very large extent. The order of utilization of ITC (Input Tax Credit) has undergone a lot of changes in the recent past. There are 3 phases for the same: 1st phase (w.e.f 01.07.2017 to 31.01.2019). […]
Section 16 of CGST Act 2017 provides that every registered person shall be entitled to take Input Tax Credit of tax paid on input and input service, subject to such conditions and restrictions as may be prescribed.Section 16(2) of CGST Act 2017 provides that ITC on Input and service shall be available subject to following conditions: –
In GST Law provision has been made for reversal of ITC where payment to vendor is not made in 180 days. Below is the clarification with example on the relevant provision:-
CBIC has recently issued few notifications under CGST and IGST as well as has issued few Circulars clarifying some issues which includes Manner of Utilisation of GST ITC and Process for revocation of order for cancellation of GST registration. We bring to you the summary of such notifications – S. No Provisions Notification/Circular No Applicable […]
In re Sanofi India Limited (GST AAR Maharashtra) Whether input tax credit is available of the GST paid on expenses incurred towards promotional schemes of Shubh Labh Loyalty Program? if we accept the contention of the applicant that the promotional items are supplied as a contractual obligation e.g. watch is given under the contractual obligation […]
CBIC clarifies the manner of utilization of input tax credit post insertion of the rule 88A of the CGST Rules vide Circular No. 98/17/2019-GST dated 23rd April 2019. Clarification in respect of utilization of ITC under GST Clarification on Section 49A and Section 49B inserted w.e.f 1st February, 2019 and Rule 88A of CGST Rules, […]
You cannot claim Input Tax Credit (ITC) on the inputs, input services and capital goods to the extent they are used in relation to the free samples and gifts supplied without any consideration.
