Goods and Services Tax : The article examines how NGTP classifications are increasingly being used as standalone grounds for ITC blockage and fraud proceed...
Goods and Services Tax : The Orissa High Court examined whether tax could be demanded after reversal of the disputed ITC. It held that raising a fresh dema...
Goods and Services Tax : Transfer of a live and functional business as a going concern qualifies as an exempt supply under GST. The key takeaway is that bu...
Goods and Services Tax : The article explains how ITC eligibility is linked to vendor compliance under GST. It highlights key risks such as return filing d...
Goods and Services Tax : The article explains when ITC must be reversed under GST law and highlights the interest and penalty consequences of failing to co...
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 Madras High Court remitted Section 74A GST orders for fresh adjudication after taxpayers argued that their replies to DRC-01 n...
Goods and Services Tax : The Madras High Court held that GST authorities cannot issue a single show cause notice covering multiple financial years. The Cou...
Goods and Services Tax : The Madras High Court held that refusal to permit cross-examination does not automatically vitiate GST proceedings involving alleg...
Corporate Law : The Court held that a purchasing dealer can rely on a sellers valid registration at the time of purchase. ITC cannot be denied mer...
Goods and Services Tax : The High Court granted bail in a GST fraud prosecution after noting that the investigation had been completed and the complaint ha...
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...
In the biggest tax evasion fraud of this financial year, the State Excise and Taxation department has unearthed a bogus billing scam to the tune of Rs 656.71 crore by three renowned Ludhiana firms — Singhania International, Shree Vallabh Exports and Krishna Ispat Limited. As per investigations, the firms — all of which deal in […]
The services availed by a manufacturer for outward transportation of final products from the place of removal should be treated as an input service in terms of Rule 2(1)(ii) of the Cenvat Credit Rules, 2004 and thereby enabling the manufacturer to take credit of the service tax paid on the value of such services.
Hon’ble Mr. Justice Dalveer Bhandari, Judge, Supreme Court of India The Learned Judge laments that the Income-tax Act is a “national disgrace”. He says that it is unfortunate that the law is so complex that even practising Lawyers and Judges have to employ Chartered Accountants or tax experts to file their income tax returns. He […]
Special Economic Zones (SEZ) units and developers will now be able to claim refund for tax paid on all input services, irrespective of whether they are consumed inside or outside the zone. The government’s decision to refund taxes implies that all developers and units in SEZs will now have to first pay a tax on […]
