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Search results for: input tax credit

Gujarat HC's Order for DGGI officers Related to ITC Fraud

Gujarat HC: DGGI Officials Authorized to Issue Writ for Wrongful ITC Claim

Many people may not know that there is a constitutional office of the ‘Directorate General of the Goods and Services Tax Intelligence’. The Gujarat High court has in a recent decree held that DGGI officers are completely empowered to issue the summons to the taxpayers as per the Central Goods and Services Tax Act, 2017 […]

Rising GST e-way Bills Signal for High Tax Collections

GSTN July Data Shows Increasing GST E-way Bills Signal for High Collection

In the month of July the electronic-way bill directing to a recovery in the common days in context to the economic activities and refinement in GST collections for the month of August providing relief to the policymakers. From the given information through the GST network, it reveals that the daily average GST e-way bills Get […]

Karnataka AAR Order for GST Rate on Used Gold Jewellery

AAR: GST will be Levied on the Difference Among Buying & Selling Cost of Used Gold Jewellery

The Authority for Advance Ruling, Karnataka has recently held that the difference between the buying price and the selling price of second-hand jewellery shall be the base value for levying the Goods and Services Tax (GST). Experts believe that the aforesaid ruling shall bring a lot of clarity on various aspects of taxation and shall […]

MSMEs Units Demand More Time for Tax and GST Payment

MSMEs Requests Govt for the Due Date Extension of I-T & GST Payment

The various groups and stakeholders of The Micro Small and Medium-scale Enterprises (MSMEs) have requested the State Government to further request the Union Government to extend the deadline of payment of GST Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment […]

Assam GST Amendment Bill 2021

FM Assam: GST Amendment Bill 2021 for Section 7, ITC, Annual Return

On Monday the Assam goods and services tax (amendment) bill 2021 is present by the Finance minister of Assam Ajanta Neog which is held with some revisions in the GST act who has obtained the presidential assent in March in an identical year. The GST officials have urged that the amendments can be built in […]

AAR's Order for ST. Thomas Hospital on Composite Supply

Kar AAR: No GST Levy on Exempted Healthcare Services Under SAC 999311

The Karnataka Authority of Advance Ruling (AAR) has passed a ruling that no GST shall be imposed on the composite supply of the healthcare services. Here in this case the applicant is Messrs Saint Thomas Hospital that is a multi-specialty hospital that provides health care services Check out the brief details of GST impact on […]

GST 4th Anniversary PHD Chamber Permit Buyers to Claim ITC

4th GST Anniversary: PHD Chamber Permit Buyers to Claim ITC Even If Supplier Does Not Deposit GST

Ahead of the fourth GST Anniversary on July 1, the Industry regulatory body ‘PHD Chamber of Commerce’ has voiced an opinion that the buyer should be permitted to claim credit for taxes even if the supplier has been the defaulter in payment of GST. The PHD Chamber of commerce also said that during a meeting […]

NAA Orders Tax Officials to Ensure GST Rate Cut Benefit

NAA: Officials to Give Priority of Consumer Complaints on GST Rate Cut for Covid-related Materials

On Wednesday National Anti-Profiteering Authority has requested his tax council to convey the advantage of GST price which gets diminished on things relevant to covid things. It is indeed asked to give priority to the common consumer complaints. Beneath the GST act NAA which is a law, the mechanism is allocated to convey the relief […]

New Section 16(2)(aa) Under CGST ACT 2017

Finance Bill 2021: New Section 16(2)(aa) Under GST ITC

Recently Section 16(2)(aa) on Input Tax Credit has been added by Finance Bill. And the implication of this insertion is that it has empowered already existing Rule 36(4). The reason for inserting 16(2)(aa) is being that Rule 36(4) was weak and so, has been challenged before various Authorities & High Courts many times. Consequently, there […]

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