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Search results for: input tax credit

GST Applicable for Electric Vehicles

WB AAR: GST Applicable for Electrically Operated Vehicles without Battery Packs

The Authority for Advance Rulings (AAR) has announced that GST will be applied on the three-wheeler electrically operated vehicles if it is arranged with the battery packs. “A three-wheeled motor vehicle is classifiable under HSN 8703 as an electrically operated vehicle, provided it is fitted with the battery pack. Otherwise, it will be classifiable under […]

GST Registration via Aadhaar Authentication on GST Portal

Complete GST Registration Via Authentication of Aadhaar for a New User

The 39th GST Council Meeting was held on March 14, 2020, In which, the council agreed on the operationalization of Aadhaar authentication for new taxpayers. However, as per sources in the Finance Ministry, the implementation of the process was postponed amid lock-down caused by the coronavirus outbreak. With a gap, finally, the implementation process of […]

Ineligible ITC & ITC Reversal in GSTR 3B

Need to Change Exposure of Reversal & Ineligible ITC in GSTR 3B

With the Notification No. 49/2019 – Central Tax dated 09-10-2019 w.e.f. 01-07-2017 authorities made amendments in Rule 61(5) of CGST Rules. Which now states that If return in form GSTR 3B has been filed by a person referred to in rule 61(1) then he/she doesn’t have to furnish the return in from GSTR 3. Due […]

GST Cases Hearings Via Video Conferencing

CBIC Gives Approval for Personal Hearings Via Video Conferencing in GST Appeal Cases

While assuring the social distancing, CBIC asked administration for accompanying conferences in GST cases through video conferencing.  Via video conferencing CBIC announces the facts to conduct hearings so as to appeal for Acts for customs along with disputes belonging to excise and service tax. From this, the feedback has been received from the grounds of […]

Fake Firms Claimed GST Credit

DGGSTI: Bogus Firms at Govt Bases Claimed GST ITC Worth 78 Crores

A fake racket has uncovered by the Directorate General of Goods and Services Tax Intelligence (DGGSTI). which includes dummy firms some are registered at the address of the government premises in Nagpur. The fictitious transactions to be tuned by input tax credit (ITC) A complete guide for understanding the basics of input tax credit and […]

Download Document-wise Information of Table 8A of GSTR 9

New Facility to Download Document-wise Table 8A Details of GSTR 9 on GST Portal

On August 17, Goods and Services Tax Network authorities released an update and notified about a new facility that has been provided on the GST portal to the taxpayers. With this facility, taxpayers can download document wise details of Table 8A of Form GSTR-9 A simple guide to GSTR 9 (GST annual return form) online […]

Stop Penalizing Dealers for Fake GST Billing

Stop Penalizing Dealers on the Basis of Fake GST Billing

Due to a rise in bogus billing and fake GST, the experienced ones are expressing the concern for the innocent businessmen who have no involvement over these scams but still get penalised. These businessmen had done an actual purchase with the traders who further got the purchase from anyone in the chain of people who […]

GST Refunds for Longer Periods to Industries

Longer Period GST Refunds to Industries for the Post-COVID

The bid for boosting the state’s economy and gives the employment to the migrant people who have returned files during the rise of lockdown, the Uttar Pradesh council has declared a promotion policy which boosts the investment for the backward region of Purvanchal (eastern UP), Madhyanchal (central UP) and Bundelkhand. The industrial units will be […]

12 Percent GST Rate on Manufacturing and Supplying of Railway Parts

Railway Parts’ Manufacturing & Supplying will Attract 12% GST Rate

On July 30, 2020, the Authority for Advance Ruling, Karnataka (AAR) put forward a ruling in which it stated that Good and Service Tax (GST) at 12% rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like 5%, 12%, 18% and 28% will […]

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