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...
A. FAQs on GST Registration by Input Service Distributor Q.1. Who are Input Service Distributors? Ans. Input Service Distributor (ISD) under GST includes ♣ an office of the supplier of goods and / or services which ♣ receives tax invoices issued by the supplier towards receipt of input services and/ or goods and ♣ issues […]
Subject to the provision of sub-section (3) of Section 16 of CGST Act, where the registered person claimed depreciation on tax amount charges on the cost of capital goods under Income Tax Act, 1961, he is not allowed to take the input tax credit of that tax amount. And, as per the provisions of sub-sections […]
CA Adit Babel Mode of transportation has changed drastically in our country since the rise of Ola and Uber. Just a few clicks/taps and your cab arrives at your doorstep . However, they are not the only players in the market, there are many more private cab service providers as well who provide their services […]
Understand how VAT works in UAE and the importance of input tax deduction. Learn how businesses act as tax agents and collectors for the government.
A. Introduction to section 17 of CGST Act, 2017 Section 17 of CGST Act, 2017 restricts the availment of Input Tax Credit (ITC) to the extent it is attributable to the purpose of business and to the extent of effecting taxable supplies. Rule 42 and 43 of CGST Rules, 2017 specifies the mechanism of such […]
By way of this Writ Petition the petitioner has challenged the provision of Rule 89(5) of the CGST Rules, 2017 by way of which computation mechanism of the Input Tax Credit to be refunded in case of inverted duty structure has been modified to exclude Input Services from the definition of Net ITC with retrospective effect thereby denying refund of Input Services.
With a lot of hue and cry about 20th Sep ’18 being the last date for claiming the input tax credit (ITC) for the FY 2017-18, there has been an attempt to reconcile the tax credits as per books and that as claimed in Form GSTR-3B.
The functionality of blocking and unblocking Input Tax Credit is an important tool for safeguarding the Government revenue particularly in cases of fraudulent activities by the taxpayers. So the jurisdictional officers are hereby directed to use this functionality for blocking/unblocking Input Tax Credit under the following situations:-
णlosing balance of Cess credit is not transferable as ITC under GST. This article discusses the course of action that the tax payer, who have carried forward the credit requires to take.
In the current article we will discuss about the eligibility criteria involved for claiming input tax credit under GST Introduction As per sec 16 of CGST Act 2017 there are certain eligibility criteria or conditions which are required to be fulfilled for claiming input tax credit under GST. In the current article provisions as per […]
