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...
The process of preparing and filing of annual return in GSTR 9 for FY 2018-19 under GST has already started, however, some basic doubts regarding the correct way to reconcile and report the Input Tax Credit (ITC) under various tables pertaining to the FY 2018-19 are yet be cleared by the creators and owners of […]
What do you mean by Input Tax Credit under GST? Input tax credit means reducing the amount of tax (CGST, SGST, IGST) paid on the purchase of taxable Goods & services or tax paid under reverse charge from the Output liability and paying the balance amount to the Government. Who is eligible to book Input […]
Authority under Rule 133 (3) (a) of the CGST Rules, 2017 orders that the Respondent shall reduce the prices to be realized from the buyers of the flats of the above Project commensurate with the benefit of ITC received by him has been detailed above.
Globe is evidencing an unprecedented health hazard in the form of this pandemic. All economies of the world have bowed down on knees. Role of China is being viewed in suspicion. At this time, India can be a favored destination for converting to next manufacturing hub for the world.
Rajasthan High Court grants bail to CA Anup Ashopa accused of creating fake firms for fraudulent input tax credit claims. Conditions and legal analysis included
Time Limits for certain actions (other than GSTR-1 and GSTR 3B) extended/not Extended- Article compiles due date if Filing of CMP-08 by Composition Taxable person for January to March 2020, Filing of CMP-08 by Composition Taxable person for April to June 2020, Filing GSTR-4 for the financial year 2019- 20, due date of Opting for […]
Superintendent of Central Tax (GST AAAR Andhra Pradesh) The applicant in this appeal seeks a ruling on whether he can avail credit on goods and services used to provide Works Contract Service to the Principal. As seen from the narration above, there is no bar under Section 17(5)(C) to prevent the applicant from availing ITC […]
Rule 42 is considered as a one of the most complex concept in a GST. Rule 42 of the CGST Rules, 2017 envisages about the ‘manner of determination of input tax credit in respect of input and input service’. Before coming to the topic let’s take a brief of the roots. Section 17(1) of the […]
[Amendment in Rule 43 of CGST Rules, 2017 vide Notification No. 16/2020 – Central Tax dated 23rd March, 2020] The need of these provisions arises when taxable person avails input tax credit in respect of CAPITAL GOODS & provides supplies being partly used for the purposes of business and partly for other purposes, or partly used […]
Simplified GST Series Section 49/49A/49B CGST ACT 2017 Article explains Section 49- Payment of Tax, Interest, Penalty and other Amounts, Section 49A-Utilisation of input tax credit subject to certain conditions and Section 49B- Order of utilisation of input tax credit. Section 49- Payment of Tax, Interest, Penalty and other Amounts (1) Every deposit made towards […]
