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The assessee is simply accountable for proving that he legitimately acquired the goods from the supplier for a fair price after checking the supplier GST registration on the GST portal, held by Hon’ble Andhra Pradesh High Court in M/s Arhaan Ferrous and Non-Ferrous Solutions Pvt. Ltd. v. Deputy Assistant Commissioner [Writ Petition No.15481 of 2023 […]
The Delhi High Court in its recent decision in the matter of M/S. Vikas Enterprises Vs. Commissioner of Central Tax (Gst), Delhi North & Anr. [2023 (8) Tmi 239- Delhi High Court], ordered to eliminate debit freeze on a bank account of a taxpayer wherein the directive was given by the superintendent. However, under the […]
The Registered Taxable Person (RTP) who is providing Chit Fund Services has been assessed an 18% interest rate by the Karnataka Commercial Tax Officer (CTO) on the net tax bill as a result of the delayed filing of GSTR-3B for the whole 2017–18 fiscal year, with the exception of only August 2017 and March 2018. […]
On the grounds of the physical application for the refund under section 54 of the UP Goods and Service Tax Act, 2017 read with Rule 97-A of the UP GST Rules, 2017, the Allahabad High Court recently directed the GST Department to refund the amount. The Department must pay interest on the reimbursement that was […]
According to a report from the Finance Ministry, the Goods and Services Tax (GST) has maintained parity with personal income tax as a percentage of GDP. This is attributed by economists to consumer demand, compliance, and maybe some effects of inflation. Another opinion holds that this tendency is not ultimately resulting in a system of […]
Real businesses are suffering despite the taxmen busting the networks of bogus entities and fake ITC claims that proceeds with hundreds of crores of rupees. Between the filings of the buyer and seller, the GST data mismatch restricts the buyers to claim the input tax credit. ITC stands for Input Tax Credit, a credit for […]
In this post, we have discussed some of the key elements examined in the online Deloitte Survey 2023. The Goods and Services Tax (GST), introduced in July 2017 as India’s most substantial tax reform post-independence, has completed six years since its implementation. This reform has brought about noteworthy changes in businesses, enhanced supply chains, and […]
The Hon’ble Allahabad High Court in M/s Tikona Infinet Private Limited v. State of U.P. [Writ Tax No. 859 of 2023 dated July 25, 2023] set aside the need raised on the basis that the taxpayer rather than passing the Input Tax Credit (“ITC”) via Form GST ITC-02 transferred ITC through Form GSTR-3B and contained […]
Some states have achieved great success collecting record GST revenue. Madhya Pradesh, Karnataka, and Uttar Pradesh have reported the highest growth rate in GST revenue. The growth is marked in the first four months of the current fiscal year compared to the same period of time in the previous fiscal year. In the mentioned states, […]
