Goods and Services Tax : The issue was whether buyers can claim ITC when suppliers default on tax payment. The court upheld denial, emphasizing ITC is cond...
Goods and Services Tax : Highlights that system-based NGTP tagging cannot replace proper verification before denying ITC. Key takeaway: factual investigati...
Goods and Services Tax : Courts ruled that denying ITC due to supplier non-payment is unjust when buyers act in good faith. The key takeaway is that bona f...
Goods and Services Tax : This explains how courts have imposed strict safeguards on ITC blocking under Rule 86A. The key takeaway is that due process is no...
Goods and Services Tax : The article highlights how aggressive GST actions impact genuine businesses. The key takeaway is the need for balanced enforcement...
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 : Important change in Table 6 of GSTR-9 for FY 24-25 - Taxpayers can now report ITC of previous financial year that was claimed in ...
Goods and Services Tax : The issue involved alleged cyber fraud where funds were credited to the petitioner’s account. The Court granted relief consideri...
Goods and Services Tax : The Court examined whether ITC can be denied when the supplier fails to deposit tax. It upheld the provision, ruling that ITC depe...
Goods and Services Tax : The Tribunal remanded the case after finding that ITC reversals on unsold inventory were not adequately examined. It directed fres...
Goods and Services Tax : Dispute on ITC mismatch between returns was remitted after ex-parte order, allowing reconciliation upon 10% pre-deposit. Key takea...
Goods and Services Tax : The High Court did not decide the constitutional challenge but directed authorities to reconsider the taxpayer’s objections and ...
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...
Goods and Services Tax : CBIC unveils trade facilitation measures, combats counterfeit currency, and detects ₹80 crore GST fraud. Key developments from I...
In the High Court of Delhi in case of ON QUEST MERCHANDISING INDIA PVT. LTD. Versus GOVT. OF NCT OF DELHI. Held Section 9(2)(g) of Delhi Vat Act, 2004 requiring that the ITC will be allowed subject to the payment of tax by the selling dealer. Held that it was violative of Article 14 of Constitution of India. Purchasing Dealer has paid the entire tax amount to the selling dealer
Every registered dealers has to compare input tax credit claimed in GSTR 3B with their GSTR 2A report. I am attaching an excel format which will make the comparison mush more easy.
In this article you will get to know about all the 4 Types of ITC Forms available at GST Portal in brief and will help to get a clear understanding about them by reading CRUX. There are 4 types of ITC Forms, which are as follows:- ♣ ITC 01 – ITC for new GST Registration […]
Reversals explained in Detail are as Follows- -Rule 37 – 180 Days Non Payment -Rule 39 – Credit note issued to ISD -Rule 42 – Inputs used for Exempted Supplies/Personal Use -Rule 43 – Capital Goods used for Exempted Supplies/Personal Use -Others 1. Rule 37(2)– 180 days Non Payment As a dealer, you would have […]
The date for exercising the option for residential real estate project to either stay at old GST rate (8% or 12% with ITC) or to avail new GST rate (1% or 5% without ITC) is being extended to 20.05.2019 from 10.05.2019. Government of India Ministry of Finance (Department of Revenue) Notification No. 10/2019-Central Tax (Rate) […]
The issue that needs to be dwelled upon is as to whether there was a case of not passing on of the benefit of ITC and whether the provisions of Section 171 of CGST Act, 2017 are attracted in the present case.
In re Senco Gold Ltd (GST AAR West Bangal) The Applicant intends to settle the mutual debts through book adjustments. He seeks an advance ruling on whether the input tax credit is admissible when he settles through book adjustment the debt created on inward supplies from the Franchisee. AAR held that The Applicant can pay […]
In re M/s IMF Cognitive Technology Private Limited (GST AAAR Rajasthan) Credit of input tax is admissible to a registered person, subject to conditions and restrictions , and input tax inter alia is Central tax charged on inward supply of a registered person. Going further, Central tax is Central GST levied under Section 9 of […]
The admissibility of input tax credit is not free from controversies under GST like pre-GST regime. There are many cases where Orders passed by the Advance Ruling Authority as well as Appellate Authority for Advance Ruling in the favour of the department and only few orders are in the favour of the assessees.
A dealer can also apply to the assessing officer in case claims against declarations or certificates were disallowed in the assessment order due to non-production of such declarations or certificates and if such declarations or certificates have now been received. [sec. 24(2)] Rectification application can be filed only if appeal is not filed.
