Goods and Services Tax : Courts ruled that telecom towers remain movable goods because they can be dismantled and relocated, even when bolted to concrete f...
Goods and Services Tax : Businesses across India are receiving GST notices for ITC reversal even after making genuine purchases and banking payments. The a...
Goods and Services Tax : The article examines how denying ITC to genuine buyers due to supplier tax default creates constitutional and commercial concerns ...
Goods and Services Tax : This article explains updated GST rates, ITC rules, SAC classifications, and compliance requirements applicable to hotels and hosp...
Goods and Services Tax : ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory time...
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 : The Court held that mere email communication blocking ITC without a formal order and recorded reasons contravened Rule 86A of the ...
Goods and Services Tax : High Court held that GST authorities must consider CBIC circular clarifying implementation of Section 16(5) before sustaining deni...
Goods and Services Tax : The Allahabad High Court considered a challenge to amended CGST provisions restricting ITC despite valid invoices and payment of t...
Goods and Services Tax : High Court ruled that a GST order could not survive where SCN did not specify date, time, or venue for personal hearing. Judgment ...
Goods and Services Tax : The Karnataka High Court held that blocking of Electronic Credit Ledger under Rule 86A without granting a prior hearing violated p...
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...
Discover how to distribute service tax credit through Input Service Distribution (ISD) and optimize your business efficiency.
The Cenvat Credit Rules 2004 provides for availment of credit of excise duty paid on inputs and capital goods and service tax paid on input services. But a real estate developer/builder opts benefit of Notification No. 26/2012-ST dated 20.06.2012 then builder/developer can avail credit of excise duty paid on capital goods and service tax paid on input services i.e. can not avail credit of excise duty paid on inputs.
Recently there have been a slew of decisions on the matter of allowability of Input Tax Credit by various High Courts including Hon’ble Rajasthan High Court and Rajasthan Tax Board. This article aims to critically analyse the effect of recent judgments in terms of provisions of Rajasthan Value Added Tax Act 2003 and earlier judgments relating to Input Tax Credit delivered by Bombay and Delhi High Court.
With effect from 01.04.2011, the Government has provided an equipped weapon to Revenue Officers by deletion a word i.e. ‘Setting-up’ from the definition of input services vide Notification No. 03/2011-CE(N.T.) dated 01.03.2011, to dispute the Cenvat Credit of Input Services, availed in relation to ‘setting-up’ a factory. Prior to 01.04.2011
In the recent times, the Commercial Taxes Department has started issuing Notices and passing orders to disallow the Input Tax Credit based on mismatch of purchase entries found on comparison of Annexure I of buying dealers with Annexure II of selling dealers and without following the High Court directions
CA V. Sathyanarayanan 1. Whether credit claimed on capital goods falls within the definition of Rule 2(a) of Cenvat Credit Rules, 2004 (CCR). 2. Whether credit claimed on inputs falls within the definition of Rule 2(k) of CCR 3. Whether credit claimed on input services falls within the definition of Rule 2(l) of CCR. 4. […]
Goods Transport Agency (GTA) service is a misconception since its inception. The light of mess ignites more with its coverage under reverse charge mechanism. As per the provisions applicable for GTA Service, This service is covered under Reverse Charge Mechanism; therefore, the service tax liability is to be paid by the service recipient that being […]
Understanding the availability of CENVAT Credit on freight outward up to place of removal for manufacturers in India.
Inputs used in relation to generation of electricity (which is in turn used in manufacture of final products) are eligible inputs for availing the cenvat credit.
CA. Sanjeev Singhal This rule has been changed by Notification no. 18/2012 dated 17.3.2012 applicable from 1.4.2012. Now this has been made more logical and rational as the distribution of CENVAT to various units has been made realistic. RULE -7 & 7A Manner of Distribution of Credit by ISD The input service distributor may distribute […]
