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...
CA Rajesh Bhauwala 1. What is the definition of Affordable Housing : a) A Residential House/flat of carpet area of up to 90 Sqm(968.752 sq ft) in Non metropolitan Cities/towns having value up to 45 Lacs . b) A Residential House/flat of Carpet area of up to 60Sqm(645.835 sq ft.) in Metropolitan cities/towns having value […]
Excel Utility for GST Input Tax Credit (ITC) utilization as per new Amendment applicable from 01.02.2019 The Order for utilization of ITC has been changed along with introduction of new Sections 49A & 49B under The CGST Act 2017. Utilization of input tax credit subject to certain conditions “49A. Notwithstanding anything contained in section 49, the input tax […]
CBIC Notifies applicability of CGST (Amendment) Act, 2018 with effect from 1st February 2019 vide Notification No. 02/2019 Central Tax Dated 29.01.2019. One of the important amendment was made in Section 49 CGST Act, 2017 by introducing new section 49A & 49B under The CGST Act 2017. After section 49 of the principal Act, the following sections (49A […]
Meghraj Moolchand Burad Vs Directorate General of GST (Intelligence) (Bombay High Court) The learned counsel appearing for the Investigating Agency has produced on record a letter dated 26.11.2018 addressed by Advocate on record of the applicant to the DGGI, Pune informing him that, the present matter was on board before this Court on 24.11.2018 at […]
In re Indo Prosoya Foods Pvt Ltd (GST AAAR Uttar Pradesh) (i) Input Credit attributable to the supply of de-oiled rice bran cake (exempted supply) is to be reversed by the appellant in terms of Section 17(2) of the CGST Act 2017; and (ii) GST @ 5 is payable on supply of de-oiled mahua cake […]
Input Tax Credit, a word which has perturbed many professionals and businesses since the inception of GST. New definitions under GST have unsettled the earlier decisions on CENVAT / MODVAT credit provisions and the GST advance rulings have further aggravated such issues. In this article we have made an attempt to cover all aspects related […]
New Functionality is available on GST Portal where one can Compare the Input Tax Credit taken in GSTR-3B and that available in GSTR-2A. This tool is a great help for making GST Reconciliation for Annual Return or making ITC Reconciliation for Finding out that how much ITC we have claimed in GSTR-3B and how much […]
Now as per CGST Amendment act 2018 Prescribed the New rule for Utilization of ITC as Given in Sec 49A 49A. Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, central tax, State tax or […]
The Government has issued Circular No. 92/11/2019-GST dated 7 March 2019 where certain aspects with respect to treatment of various sales promotion schemes, their impact on taxable value and input tax credits (ITC) have been clarified. A synopsis of the various cases discussed in the Circular is provided below. Cases discussed in the Circular Clarifications […]
In this article we shall analyse how availment of input tax credit without discharging vendor payment obligation and non-discharge of GST obligation on payments made to unregistered vendors backfires in GST regime.
