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The Allahabad High Court permitted the taxpayer for releasing the detained goods without e-way bills post-filing 200% of Goods and services tax on invoices value. It alleged that the applicant SK trading co. with allegations that applicant no 1 placed an order for the supply of mixed ready-made garments, which were transported via applicant no […]
An advisory has been issued by the Goods and Services Tax Network (GSTN), in which it has been decided to set a time limit for reporting the goods and services tax invoices on the IRP Portal. Following the advisory, the government came to the conclusion that there should be a deadline for reporting delayed invoices […]
It’s terrible news for the sector since the Supreme Court ruled that simply producing an invoice and a check payment is inadequate to claim ITC (Input Tax Credit). Analysts believe despite this order is concerned with problems under Value Added Tax (VAT) regime, but is likely to have an influence on GST also. The Assessing […]
AAR is an acronym of Authority on Advance Ruling in Karnataka, In a recent matter, AAR stated that the tax invoice can be issued with Integrated Goods and Service Tax( IGST) to customers for the interstate transaction in the case where the goods are directly dispatched from the port of import with invoicing completed from […]
Filing GST is a massive task involving document compilations, computations, GST calculations, verification and so on. People with deficit knowledge are often seen struggling with GST filing and reviewing documents for accuracy. GST invoice is one of the major components used while computing tax, one wrong invoice will affect the figures in GST returns leading […]
The Calcutta High Court ruled that the GST department could not calculate the penalty amount on a higher value compared to the invoice value without proper proof and reason. The bench of Chief Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya has marked that a transporter or owner of the goods is forced to carry specific […]
If an enrolled dealer availed for any advantage under Section 19 of the TNVAT Act 2006 then he needed to comply with the norms mentioned in the stated section, Madras High Court ruled. The applicant did not deliver the original tax invoice from a registered dealer, and thus, he is unable to complain that the […]
A person who is registered as a composition taxpayer cannot generate taxable invoices, collect GST from consumers, or claim ITC on purchases, according to the Central Board of Indirect Taxes and Customs (CBIC). The explanation came in response to a popular video showing a restaurant tricking patrons even though it was a composition taxpayer under […]
It is now three months since the launch of the GST e-invoice system. The system turned out to be the game-changer for all the taxpayers and also for the authorities, it provided easy transition of taxpayers to the new platform. As per report, After the launch of NIC developed GST e-invoice system Get to know […]
