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...
1. Section 19 of CGST Act prescribes the provisions relating to taking input tax credit in respect of inputs sent for job work. The procedure for removal of goods for job work without payment of tax is prescribed under section 143 of the CGST Act. Rule 45 of CGST Rules specifies conditions and restrictions in […]
Treatment of input tax credit (ITC) in case finished goods destroyed as normal loss In this article , I have analysed the treatment of input tax credit in case finished goods of a company gets destroyed at the time of packaging, transportation etc. as normal loss of business. There are many industries dealing with products […]
All such tax payers who have not furnished details of ineligible ITC or furnished partial details of ineligible iTC or not reported reversal of ITC fully or partially, are hereby required to correct the mistakes in following manner‑
Whether Input Tax Credit to be reversed or not of the Goods destroyed due to lockdown ? Goods of many taxpayers have destroyed or expired due to lockdown. They had paid Goods and Services Tax (GST) on it and taken the input tax credit. Many manufactures had given GST on the raw materials which are […]
Now ITC can be availed which was earlier blocked on Health-Insurance and hiring of motor vehicle for transportation of employees from 15th April 2020 Due to COVID-19 epidemic in the country, Government has made certain services obligatory for employer to provide to its employees. In this article, such categories of supplies have been identified and […]
The High Court of Punjab and Haryana granted anticipatory bail to a 24-year-old youth accused of committing tax evasion to the tune of over Rs 4 crore by generating bogus invoices of sales and purchases.
Clarification related to processing of GST Refund – Restricted to ITC populated in GSTR 2A The Central Board of Indirect Taxes and Customs (CBIC) had issued Master Circular on Refunds No. 125/44/2019-GST dated 18.11.2019 rescinding all earlier circulars. Recently CBIC has issued Circular No 135/05/2020 – GST dated 31st March, 2020 clarifying additional issues in […]
1) Executive Summary: As per section 17(5) of CGST Act, 2017, there are certain input services such as health services, life insurance and health insurance, renting or hiring of motor vehicles which are under the blocked category and the service recipient of these services cannot availed and utilised against set-off Output liability. Considering the current […]
The issue under consideration is that the petitioner filed writ petition for seeking grant of anticipatory bail, whether HC allow him the grant or not?
In re Atriwal Amusement Park (GST AAR Madhya Pradesh) Regarding the eligibility of ITC in case of Input Tax paid on Purchase of Water Slides, we have to state that Water Slides shall fall within the meaning of the term apparatus, equipment and machinery and therefore, shall be eligible for claim of ITC. Regarding the […]
