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...
Definition of ‘Financial Institution’ plays a very key role in determining eligibility of ITC on inputs, capital goods, input services. However, GST act didn”t define the definition of ‘Financial Instituion’.
1) Introduction:- ITC means reducing the taxes paid on inputs from taxes to be paid on output. When any supply of services or goods is supplied to a taxable person, the GST charged is termed as Input Tax. The concept isn’t entirely new because it already existed under the pre-GST indirect taxes regime (service tax, […]
Whether GST is applicable on nominal amount recovered by Applicants from their employees for usage of employee bus transportation facility in non-air conditioned bus.
Sub section 5 of Section 49 of CGST Act, 2017 states the manner of utilization of Input Tax Credit in the following manner: -integrated tax shall first be utilized towards payment of integrated tax and the amount remaining, if any, may be utilized towards the payment of central tax and State tax, or as the […]
When we read the text of Section 17(5)(d) together with its explanation, we find that for triggering the restriction under this clause, certain criteria have to be satisfied viz: a) The goods or services should be used for construction of immovable property. b) The construction can be in the form of reconstruction, renovation, additions or alterations or […]
This brief expression of thoughts highlights and enumerates the basics of this one of the most contentious issues in the subject. Here, author has reproduced the provision of blocked credit and compiled a list of judicial discords pending relating to this very aspect across the various high courts of the country. Section 17(5)(c) and 17(5)(d) […]
While filing GSTR-9 of F.Y. 2017-18, one of the issues faced by the taxpayers was non-availability of detailed invoice-wise information of auto-populated information in Table 8A of GSTR-9 in respect of Details of Invoices appearing in GSTR-2A of the taxpayers. The ITC amount appearing in GSTR-2A downloaded as per authorized GSP/ASP or directly from GST […]
GSTR-3B is a summary return which came into existence since GSTR-2 and GSTR-3 never saw the light of the day due to the technical glitches in functioning of Matching System as stated in Sec 42 and Sec 43 of the CGST Act, 2017. Recently, Rule 61(5) of CGST Rules have been amended vide Notification No. […]
Mr. Ashok Kumar Vs Commissioner CGST & Central Excise (Bombay High Court) Taking into consideration, the facts of the case, though the officers under the CGST Act, cannot seek custody of the arrested persons for completing the investigation, respondent’s contention that applicant’s detention in custody is necessary to prevent him from causing the evidence of […]
This article is penned down to analyse the legal issue that arises in respect of Refund of unutilised Input Tax Credit (ITC) on account of Inverted Duty Structure under GST regime after an amendment in clause pertaining to time period prescribed for filling refund application w.e.f. 01-02-2019. Before going further, let us understand all the […]
