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India’s Goods and Services Tax (GST) system includes a feature known as Input Tax Credit (ITC). This mechanism allows businesses to avoid paying tax on inputs where tax has already been paid, thereby reducing their overall tax burden. However, since companies must comply with specific rules and deadlines, they often face challenges in consistently monitoring […]
The Delhi High Court has ruled that claiming Input Tax Credit (ITC) under the Goods and Services Tax (GST) system in a dishonest way, especially when there hasn’t been any real supply of goods or services, goes against the very purpose of the ITC program. This practice not only undermines the system but also compromises […]
Mobile/ telecommunication towers are movable properties, eligible for taking input tax credit under the Central Goods and Services Tax Act, 2017, the Delhi High Court ruled. A division bench of Justices Yashwant Varma and Girish Kathpalia carried that the telecom towers do not come under Section 17(5) of the CGST Act which sets out distinct […]
The Kerala High Court in a case set aside the refusing Input tax credit under the Central Goods and Service Tax ( CGST ) Act, 2017 in consideration of notification on provision under section 16(5) of the act. The applicant Reinstate Renovation Solutions, has approached the court being dissatisfied with the fact that the applicant […]
One of the outcomes of cancelling the registration of the taxpayer with retrospective effect is that the taxpayer’s customers are refused the claim of the input tax credit for the supplies made by the taxpayer, the Delhi High Court ruled. The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja witnessed that simply due to […]
Uttar Pradesh-based authority for advance ruling (AAR) has held that on the GST, the Input tax credit (ITC) could not be claimed that has been paid on the expenses towards the corporate social responsibility (CSR). For the case, the ruling was provided to the company that used to manufacture and supply the parts of the […]
GST Input Tax Credit (ITC) is related to a taxable entity. Under the CGST Act, ITC includes IGST and CGST, while under the SGST Act, it includes IGST and SGST. These taxes are imposed on each supply of goods and services used or intended to be used in the course of business. ITC also includes […]
Under the GST act, an assessee would need to reverse the ITC that was claimed by 30th November for the case when his supplier could not deposit the dues the taxes via 30th September. PAN-linked mobile along with the email could be used with biometric authentication or GST Registration. The Central Board of Indirect Taxes […]
The blocking of input tax credit) under GST would be affecting businesses all over the state. As the city is the financial capital of the state, the majority of businessmen of the city would get impacted by it. In front of the state, GST commissioner Lokesh Jatav several CAs, and tax consultants asked to resolve […]
