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Search results for: input tax credit

Provisional Order Cant be Challenged by Writ Petition

HP HC: Provisional Order Can’t be Disputed by Writ Petition in GST

The Himachal Pradesh High Court ruled that the Provisional Attachment Order will not be challenged via Writ Petition. Below Section 74 of Himachal Pradesh Goods and Services Tax Act, 2017 and the Central Goods and Services Tax Act, 2017 Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings […]

GST Officials Action Against Fraud Companies

GST: Govt Eliminated 7K Fraud Companies Using Data Analytics Tools

Seeking protective data analytics through the firms, the government has initiated a restriction to the GST evasions where 7000 entities were actioned upon and arrested 187, it is a campaign to float the tax collection said Ajay Bhushan Pandey Finance Secretary. In December 2020 the net GST collection was Rs 1.15 lakh cr which was […]

GSTR 9 and 9C Revised Due Dates

Current GSTR 9 & 9C Due Dates for FY 2019-20 (31st March 2021)

The due date for filing the yearly returns (GSTR 9 & 9C Form) of the goods and services tax (GST) 2019-20 is prolonged by the government by 2 months post demand of the interval sought by the companies on the basis of difficulties in compliance and interruptions because of coronavirus. Current Due Date for GST […]

Latest Changes in Rule 36 Under GST ITC

Analysis of New Amendments in Rule 36 for GST ITC for Businesses

A recent amendment to the Goods & Services Tax Rule 36, which is expected to help curb fake invoicing, has raised a storm of complaints from taxpayers across social media, who believe that the amendment will reduce the amount of Input Tax Credit A complete guide for understanding the basics of input tax credit and […]

MH Govt Procedure for GST Audits

MH Govt New Circular for GST Audits Under Section 65

The Maharashtra Goods and Services Tax Department (MGSTD) stated the usual method for GST audits below Section 65 of the MGST Act, 2017. Under Section 65 of MGST Act, 2017 the Maharashtra GST council is starting audits below Section 65 of the MGST Act in the case of chosen RTPs. This announcement is given to […]

Brand Promotion Goods & Gifts Under GST Framework

Gifts & Brand Promotion Goods (Pens, Bags, Diaries) Under GST Structure

There are difficulties in the goods and services tax (GST) in the year 2021. Therefore an issue is raised on the healing towards the year gifts or brand promotion goods such as pens, calendars, bags, or diaries under the GST framework. Any goods such as a carry bag on which there is a brand embossed […]

No GST on Reverse Charge Basis to OPTCL

Supply of Service to OPTCL Exempted from GST for Reverse Charge

The Odisha Authority of Advance Ruling (AAR) held that there will be no Goods and Service Tax (GST) on the grounds of reverse charge which is applied to the Supply of service to Odisha Power Transmission Corporation Limited. The petitioner is the owner of the Electric power company service limited (TEPSCO) which is a Japan-based […]

Pay 1 Percent GST Under Rule 86B

Biz T.O. INR 50 Lakh a Month to Pay 1% GST Under Rule 86B

The central government has inserted a rule to prevent fraud from claiming an input tax credit under the GST. Now, businesses having a monthly turnover above ₹ 50 lakh will require to pay at least 1% of their GST in cash. Latest Changes for New Rule Under 86B of CGST Act Recently there was a […]

GST Problems for Educational Institutes

Educational Institutes Invested in IT Infrastructure Facing GST Problems

Due to the lockdowns and restrictions caused by Covid-19 Pandemic, schools and colleges started conducting online classes but now they will face a problem under the Goods and Services Tax (GST) structure. Actually, many educational institutions chose to provide e-learning facilities to their students, and because of this, they invested in IT equipment and infrastructure. […]

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