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...
Rules 88A :Order of utilization of input Tax Credit- Restore to old method of set off of Input tax credit New GST Rules 88A as per Notification no 16/2019 dated : 29th March 2019 has restore the set of Input Tax Credit utilization in the old method with minor modification in order of set off. […]
Under the ITC concept, the taxpayer (GST Registered person) is eligible to reduce his/her tax liability which has already been paid on inputs from tax payable on outward supplies. Thus, it is important to know about those specific issues that cause a number of companies to lose huge Tax Credit while filing their GST Returns.
In re YKK India Pvt Ltd (AAAR Haryana) 1. Whether the applicant (YKK) is eligible to take input tax credit on GST charged by the Contractor for hiring of buses for transportation of employees? Yes, applicant is eligible to take input tax credit on GST charged by the Contractor for hiring of buses having approved […]
Analysis of New Rule 88A –Order of Utilization of input tax credit along with numeric illustrative comparison pre and post amendments. The new order of ITC utilization rule 88A is brought vide Notification no 16/2019 dated 29-03-2019 made effective from the 1st April 2019. This may provide some relief to the business community, which has […]
Central Board of Indirect Taxes and Customs have come out with a clarification vide Circular No. 92/11/2019-GST dated 07.03.2019, clarifying on various doubts regarding treatment of sales promotion scheme under GST. The circular clarifies following points; (i) It is clarified that samples which are supplied free of cost, without any consideration, do not qualify as […]
Central Government has amended the Central Goods and Services Tax Rules and these amendments have been made applicable with effect from 1st April 2019 by issuing Notification vide Notification No: 16/2019 – Central Tax dated 29th March 2019.
Author compiles recent changes in GST applicable wef 01.04.2019 related to builders and developers- It explains changes Where GST OF 1%/5% Is Opted For Ongoing Project, Where Existing 8% Is Continued With ITC, Impact on New Projects and amendment in rules regarding Input Tax Credit in summaried form.
The valuation of Supply comes within the ambit of Section 15 of the Central Goods and Service tax Act. At the inception of discussion, it is requisite here to peruse the provisions of section 15(3)(b) which deals with the post facto discount, which are reiterated for sake of your reference-
Notification No. 9/2019-Central Tax (Rate)- Seeks to amend notification No. 02/2019- Central Tax (Rate) so as to provide for application of Composition rules to persons opting to pay tax under notification no. 2/2019- Central Tax (Rate). Government of India Ministry of Finance (Department of Revenue) Notification No. 9/2019-Central Tax (Rate) New Delhi, the 29th March, 2019 […]
Circular No. 96/15/2019-GST Dated 28th March, 2019 Transfer of ITC in case of death of sole proprietor Section 29(1)(a) of the CGST Act, 2019- Cancellation of registration on account of transfer of business for any reason including death of the proprietor For the purpose of sections 18(3), 22(3) and 85(1) of CGST Act and rule 43(1) […]
