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Capital Good – Defined Under CGST Act 2017 As mentioned under section 2(19) of the Central Goods and Service Act 2017, Capital Goods under GST are termed as goods whose value is capitalized (recorded as an asset) in the Books of Accounts which can either be claimed by the assessee as the Input Tax Credit […]
The Authority for Advance Ruling, Tamil Nadu, confirmed that non-monetary benefits like gifts, compliments, and foreign or domestic tour packages received by a dealer from its principal manufacturer include supply of service under section 7 of the Central Goods and Services Tax Act, 2017 (CGST Act), and are thus accountable to Goods and Services Tax […]
The High Court of Gujarat has provided temporary protection to a container shipping company in a legal case about how it shares tax credits between its different branches. The court has ordered that the authorities should not take any harsh actions against the company while the case is still ongoing. Orient Overseas Container Line Limited […]
The Goods and Services Tax Appellate Tribunal (GSTAT), Principal Bench at New Delhi, has ruled that when a contractor voluntarily remits the residual input tax credit (ITC) advantage determined via the Directorate General of Anti‑Profiteering (DGAP) to its principal, no separate anti-profiteering action is needed under section 171 of the Central Goods and Services Tax […]
The Calcutta High Court recently ruled that a minor delay in filing a GST appeal warranted condonation, as the petitioner presented a satisfactory explanation for the delay. Additionally, the Court instructed the authorities to re-evaluate whether the pre-deposit requirement under the CGST Act, 2017, had been calculated correctly and adhered to appropriately. The applicant, Dhananjoy […]
A taxpayer cannot overlook an order passed against it and uploaded on the GST portal, just because a copy of the order was allegedly illegible, the Delhi High Court stated. Hence, a division bench of Justices Prathiba M. Singh and Shail Jain denied condoning the delay of the taxpayer in submitting the appeal against a GST […]
Registered taxpayers can claim Input Tax Credit (ITC) for the financial years 2017-18 to 2020-21, provided their GSTR-3B returns were filed on or before 30 November 2021, as cited by the Madras High Court. The GST assessment order passed for FY 2018-19 has been quashed by Justice Krishnan Ramasamy, citing that the refusal of the […]
The Delhi High Court ruled in an important decision to finalise an audit report without duly considering the reply of the taxpayer breaches the mandate of Rule 101(4) of the Central Goods and Services Tax (CGST) Rules, 2017. Towards the rule, the court delivers clarity. The applicant, Dhruv Medicos Pvt Ltd., is in the business […]
The decision of the Authority for Advance Ruling that Goods and Services Tax (GST) is applicable on the value of silver that is extracted from old or used batteries received free of cost from Indian Naval formations has been kept by the Tamil Nadu Appellate Authority for Advance Ruling (AAAR). The silver extracted from the […]
