Goods and Services Tax : Explore the nuances of input tax credit under GST and its commercial expediency, drawing parallels with income tax jurisprudence a...
Goods and Services Tax : Explore challenges and solutions in GST Input Tax Credit reversal compliance, focusing on the intricacies of Section 15(3)(b)(ii) ...
Goods and Services Tax : Understand the Inverted Duty Structure in GST and how to claim refunds on unutilized Input Tax Credit (ITC). Explore detailed insi...
Goods and Services Tax : Explore how taxpayers can manage GST liabilities with Form GST DRC-20 under Section 80. Learn about instalment options, eligibilit...
Goods and Services Tax : Discover the challenges faced by dealers when GST ITC is blocked. Learn expert advice, legal insights, and potential actions to re...
Goods and Services Tax : Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC co...
Goods and Services Tax : Join our live webinar on Block Credit in GST u/s 17(5) to understand ITC, eligibility criteria, and critical provisions. Expert in...
Goods and Services Tax : Meerut CGST Commissionerate exposes a syndicate claiming fraudulent Input Tax Credit of over Rs. 1,000 crore through 232 fake firm...
Goods and Services Tax : Explore the limitations and settlements regarding GST input tax credit, including late fees, penalties, and recent amendments. Dis...
Goods and Services Tax : Explore how the implementation of GST in India has affected income inequality and living standards. Analysis of tax collection imp...
Goods and Services Tax : Understand GST ITC eligibility on wires/cables & equipment for electricity transmission. Detailed analysis of Gujarat AAR ruling o...
Goods and Services Tax : Explore the Madras High Court's ruling on Tvl. Moon Labels Vs Government of India regarding procedural errors in ITC transitioning...
Goods and Services Tax : Read the Madras High Court judgment allowing Ramco Cements to challenge GST orders on multiple issues, including tax on sale of se...
Goods and Services Tax : Bombay High Court rules on Konkan LNG vs Commissioner of State Tax case, denying GAIL subsidiary input tax credit for breakwater-w...
Goods and Services Tax : Read the Madras High Court's decision on GST non-reporting issues in monthly and annual returns, despite clerical errors claimed b...
Goods and Services Tax : Clarification on the availability of input tax credit for ducts and manholes used in optical fiber cable networks under CGST Act, ...
Goods and Services Tax : Clarification on ITC entitlement for insurance companies on motor vehicle repairs under reimbursement claim settlement as per CGST...
Goods and Services Tax : Explore the detailed minutes and recommendations from a recent Grievance Redressal Meeting chaired by the Principal Chief Commissi...
Goods and Services Tax : Catch up on the latest CBIC updates including legacy cases, gold smuggling bust, GST fraud crackdown, and inspiring achievements. ...
Goods and Services Tax : Understand the procedures for voluntary tax compliance under Sections 73 and 74 of the KSGST Act, 2017. Detailed analysis of Circu...
Restriction imposed under Rule 86A of the Central Goods and Services Tax Rules, 2017 should be lifted after the expiry of one year from the date of imposition of such restriction.
There are many amendments proposed from 1st January 2022. Among them the most crucial two which would impact all taxpayers is related to the legal changes for availing ITC and filing GSTR-1 and GSTR-3B which have been notified vide Notification No 39/2021-Central Tax dated 21st December 2021. In this article we will discuss the said […]
As per the new insertion of Section 16(2)(aa), a Recipient cannot avail Input Tax Credit (ITC) for the Invoice issues by the Supplier, if the Supplier has not filed that Invoice in his GSTR1 Returns i.e. Input tax Credit (GST Paid to vendors) in respect of invoices and debit notes shall be available only to extent they are furnished in GSTR1 by the vendors and the appearing in GSTR2A/2B of the recipient(your company name).
New condition to avail Input Tax Credit: It was been proposed to insert the new clause ‘(aa)’, after clause (a), in Section 16(2) of the CGST Act, that provides an additional condition to claim ITC based on GSTR-2A and newly introduced GSTR-2B,
Is it possible to have GST without ITC (Input Tax Credit)? Why don’t we make it simple for small business entities? There is big list of FAQ s on the Input tax credit ICAI has published in July 2021 a book on “Practical FAQs on Input Tax Credit”. 34 experts have contributed in the preparation […]
AAAR modified the ruling passed by the AAR, and held that, the assessee is entitled to use the Input Tax Credit balance lying in its Electronic Credit Ledger (ECL), legitimately earned on the on Gold & Silver Dore Bars etc., for the purpose of paying GST on outward supply on Castor Oil Seeds, and it cannot be denied merely on the ground that the inputs have no nexus with outward supply.
AAR held that No GST payable on washed/rejected coal from washery on which Compensation Cess is paid and ITC is not availed
LGW Industries Limited & Ors. Vs Union of India & Ors. (Calcutta High Court) 1. If all the purchases and transactions in question are genuine and supported by valid documents and transactions in question were made before the cancellation of registration of those suppliers and after taking into consideration the judgments of the Supreme Court […]
Learned counsel has submitted that as per the prosecution, the total liability of the petitioner turns out to be Rs.2.5 crores and the petitioner has volunteered to deposit half of the amount within ten days subject to final adjustment.
CGST, Mumbai busts fictitious entities availing Input Tax Credit against Fake Invoices; fraudulent transaction of Rs. 6.23 Crore Special Drive detects Tax Evasion of Rs. 3,500 Crore so far; Rs. 460 Crore recovered Anti-evasion Wing, Central Goods and Services Tax Bhiwandi Commissionerate, Mumbai have busted a network of fictitious entities in Maharashtra. The entities were […]
