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...
Recently, notification no 49/2019-central tax on 9th October, 2019 has come restricting the input tax credit to 120% of the eligible input tax credit on the basis of invoices actually uploaded by supplier under section 37(1). We have analyzed the notification in detail and below is the mechanism how to arrive at this 120% and […]
Effect of Notification 49/2019–Central Tax dated 9 October 2019 i.e. restriction on availlment of input tax credit (ITC) Central Board of Indirect taxes and Customs restricts availment of input tax credit to recipient if details not furnished by supplier in Form GSTR-1 CBIC has issued Notification No. 49/2019–Central Tax dated 9 October 2019 amending the […]
irectorate General of GST Intelligence (DGGI), Gurugram Zonal Unit, Gurugram arrested Sh. Rajiv Gupta on 23.10.2019, partner in M/s RST Batteries, Mundka Delhi and Director of M/s RST Batteries Pvt. Ltd Bahadurgarh, Haryana for orchestrating a racket involving fake invoices valued at more than Rs 136 crores thereby defrauding the Government of more than Rs 20 crores.
In re Sanofi India Limited (GST AAAR Maharashtra) ITC eligible on Shubh Labh Trade Loyalty Program it is manifest that the Appellant’s act of providing the promotional goods and services under the Shubh Labh Trade Loyalty Program is certainly not an act of generosity, as the Appellant is not giving these goods and services to […]
In re Indag Rubber Limited (GST AAR Rajasthan) Q. Whether the applicant is eligible to claim credit of the GST charged by vendor at the time of supply of goods and services to it, which are used for carrying out the following activities for setting up of MRO facility which will be rented out: a. […]
Sh. Vasantbhai Bhikabhai Patel Vs M/s Shree Infra (National Anti-Profiteering Authority) We have carefully considered the Report of the DGAP, the submissions of the Respondent and all the documents placed on record. From the perusal of the DGAP’s Report it is revealed that the ratio of ITC to the taxable turnover during the pre-GST period […]
Input Tax Credit (ITC) is the core concept of GST as GST is destination based tax. ITC avoids cascading effect of taxes and ensures that tax is collected in the State in which goods or services or both are consumed. “Input tax credit” means credit of ‘input tax’- section 2(62) of CGST Act. Section 2(62) […]
The CBIC has notified the Central Goods and Services Tax (Sixth Amendment) Rules, 2019 vide Notification No. 49/2019 – Central Tax dated 09-10-2019. The said Notification has also revamped the entire method of availing credit, by inserting a new Rule i.e. Rule 36(4) in the CGST Rules, 2017. The rule seeks to restrict credit in […]
In the below given situation, there are four different parties involved with three different transactions between them for supply of goods. All these transactions in together lead to single movement of goods. The transaction is explained as below: 1. D places order to C (Trader) for supply of material X; 2. C orders the same […]
Representation with respect to newly inserted sub-rule (4) of Rule 36 of the Central Goods and Services Tax Rules 2017- and 5 issues on which CBIC needs to issue Immediate clarification – Impact on small suppliers filing GSTR 1 on quarterly basis, Input tax Credit differences arising out of month end movement of goods or services, Input Tax Credit reclaimed as reversed under Section 16(2), Absence of mechanism of verification of ineligible credits and Absence of matching tool shall put constrains on taxpayer resources.
