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...
Article on impact of circular No. 123/42/2019 –GST dated.11.11.2019 (Restriction in availment of input tax credit of sub-rule (4) of rule 36 of CGST Rules, 2017) under GST Law, 2017) on business community under GST Scenario. Dear Colleagues, good morning. You are all aware that CBIC has given Circular on Restriction in availment of input […]
Sh. Kavi Mahajan Vs M/s Heeranandani Realtors Pvt. Ltd (National Anti-Profiteering Authority) Respondent has benefited from the additional ITC to the extent of 10.66% of the turnover during the period from July, 2017 to August, 2918 and hence the provisions of Section 171 of the CGST Act, 2017 have been contravened by the Respondent as […]
Article explains What’s the restriction on Input Tax Credit under GST, On what Invoices/debit notes is the restriction on Input Tax Credit under GST imposed, Calculation of restriction of Input Tax Credit under GST, Amount of ITC to be availed under GST, What would be the impact of the restriction on Input Tax Credit under […]
20% CAPPING OF ELIGIBLE CREDIT IN GSTR 2A Amendment to Rule 36(4) Of CGST Rules 2017 Vide Notification No. 49/2019 – Central Tax 09-10-2019 on 20% ITC Restriction Guided by Circular No. 123/42/2019– GST 1) Ques :What is 20% Restriction on ITC as per Notification No 49/2019 ? Ans :Input tax credit to be availed […]
Q. Whether the Input Tax Credit of Central Tax Paid in Haryana be Available to the Applicant who is Registered in Rajasthan State? In other words, ITC of the Central tax charged in Haryana is not available as in this case both the location of the supplier and the place of supply of the services are in the State of Haryana.
Clarification of GST Rule 36(4)- Circular No.123/42/2019 dated 11/11/2019 – Central Tax The newly inserted Rule 36(4) provides that a taxpayer can avail ITC pertaining to outward supplies not declared by his supplier in Form GSTR-1 only to the extent of 20% of the eligible credit available in respect of invoices declared by his supplier in […]
Provisions which grant exemption from tax or which allow benefit of input tax credit adversely affect revenue receipts from goods and services tax. Therefore, while preparing draft of goods and services tax (GST) laws, due precautions are required to be taken. In my opinion, some of the provisions related to availability or admissibility of input […]
In re Geetastar Resorts Pvt. Ltd. (GST AAR Rajasthan) Whether Input Tax Credit on goods and services used in construction of hotel will be available to the applicant engaged in providing taxable services of hotel accomodation and related services? Since the applicant has withdrawn the application, therefore, no ruling is given. FULL TEXT OF ORDER […]
Input Tax Credit is one of the Key Features of the GST. Input Tax Credit is available on each supply made under GST subject to conditions prescribed. It is a very important topic for the registered person to understand how he can claim input tax credit, when he can claim, which he cannot claim etc.. […]
Manner of distribution of credit by Input Service Distributor: As per Section 20(1)of CGST Act,2017 states that the Input Tax Service Distributor shall distribute the credit of central tax as central tax or integrated tax and integrated tax as integrated tax, by way of issue of a document containing the amount of input tax credit being distributed in such manner s may be prescribed.
