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...
We know that ITC (Input tax Credit) plays a very vital role in GST and avoids cascading effect to a very large extent. The order of utilization of ITC (Input Tax Credit) has undergone a lot of changes in the recent past. There are 3 phases for the same: 1st phase (w.e.f 01.07.2017 to 31.01.2019). […]
Section 16 of CGST Act 2017 provides that every registered person shall be entitled to take Input Tax Credit of tax paid on input and input service, subject to such conditions and restrictions as may be prescribed.Section 16(2) of CGST Act 2017 provides that ITC on Input and service shall be available subject to following conditions: –
In GST Law provision has been made for reversal of ITC where payment to vendor is not made in 180 days. Below is the clarification with example on the relevant provision:-
CBIC has recently issued few notifications under CGST and IGST as well as has issued few Circulars clarifying some issues which includes Manner of Utilisation of GST ITC and Process for revocation of order for cancellation of GST registration. We bring to you the summary of such notifications – S. No Provisions Notification/Circular No Applicable […]
In re Sanofi India Limited (GST AAR Maharashtra) Whether input tax credit is available of the GST paid on expenses incurred towards promotional schemes of Shubh Labh Loyalty Program? if we accept the contention of the applicant that the promotional items are supplied as a contractual obligation e.g. watch is given under the contractual obligation […]
CBIC clarifies the manner of utilization of input tax credit post insertion of the rule 88A of the CGST Rules vide Circular No. 98/17/2019-GST dated 23rd April 2019. Clarification in respect of utilization of ITC under GST Clarification on Section 49A and Section 49B inserted w.e.f 1st February, 2019 and Rule 88A of CGST Rules, […]
You cannot claim Input Tax Credit (ITC) on the inputs, input services and capital goods to the extent they are used in relation to the free samples and gifts supplied without any consideration.
Safari Retreats Private Limited Vs Chief Commissioner of Central Goods & Service tax (Orissa High Court) The case of the petitioners is that the petitioners are mainly carrying on business activity of constructing shopping malls for the purpose of letting out of the same to numerous tenants and lessees. Huge quantities of materials and other […]
B. Banu Bee Vs State of Karnataka (Karnataka High Court) This Court in the case of Sri. Avainash Aradhya Vs. the Commissioner of Central Tax in Criminal Petititon No.497/2019 c/w Criminal Petition No.498/2019 by order dated 18.2.2019 has elaborately discussed the provisions of law and other aspects as to under what circumstances the bail has […]
Rule 88A of Central Goods and Services Tax (CGST) Rules, 2017 read with Section 49(5), 49A and 49B of CGST Act, 2017 deals with Order of utilization of input tax credit. Rule 88A is been inserted vide Inserted vide Notification No. 16/2019-Central Tax (Dated 29th March, 2019) and Section 49A and 49B were inserted vide […]
