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In a recent instance in which a car was seized on suspicion of fraudulent business operations and false ITC claims, the Orissa High Court ordered its release following payment of a penalty under Section 129(1) (b) of the GST Act, 2017. The directions would have been obtained by Sunil Mishra who is the Additional Standing […]
The Madras High Court stated that it cannot expect certain conditions to fall under the Goods and Services Tax Law. Particularly, what to expect if the input tax credit to the buyer is disapproved by the government for the reason that the GST has not been paid by the seller but then recovers the tax […]
The Madras High Court has ruled that mistakes are not done deliberately or with any intention. The modification, as a matter of fact, would allow relevant reporting of the ITC and turnover. This will permit the claims to be presented accurately by the applicant. The single bench of Justice Anita Sumanth has learned that the […]
The Delhi High Court ruled that under Rule 86 A of the CGST 2017, the restriction of the input tax credit (ITC) cannot be more than one year. The petitioner, M/s Parity Infotech Solutions Pvt. Ltd., complained about the instruction, which was dated March 8, 2012. Special Commissioner-V, Department of Trade and Taxes, issued the […]
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 […]
The purchaser would not be qualified for claiming the ITC on the subject of purchases that the seller made, who would have released its tax liability, Punjab Authority of Advance Ruling (AAR) stated. No registered individual would be eligible to get the ITC for any supply of goods or services or both until the tax […]
According to the Jharkhand High Court, the unadjusted TDS amount must be viewed as an input tax credit amount and must be carried forward. The unadjusted TDS amount would have been otherwise refundable to the petitioners if it had not been permitted to be carried forward as an excess input tax credit in the statutory […]
In table 4 of GSTR-3B, the Goods and service tax network (GSTN) initiated the negative values. A few differences in Table 4 of Form GSTR-3B would be notified by the government in order to enable the assessees for reporting the precise data for the claimed ITC, ITC reversals, and ineligible ITC. As per the amendment, […]
The scrap steel sector, which obtains its raw materials mostly from unorganized scrap dealers, has requested that the GST structure be rationalized through the use of a “reverse charge mechanism,” in which manufacturers would be responsible for paying taxes. The GST Council was encouraged on Thursday by the All India Induction Furnaces Association (AIIFA), a […]
