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The government has finally decided that transaction credit can be claimed by individual firms, after getting criticised by two high courts over the GST working portal
Mopidevi Venkata Ramana Rao, former Minister of Andhra Pradesh and current Member of Parliament, addresses a critical problem troubling businesses in India. In a letter to Hon’ble Finance Minister Nirmala Sitaraman, he advocates for the resolution of challenges surrounding Section 16(4) of the Goods and Services Tax Act, 2017. The Andhra Pradesh Tax Practitioners and […]
The Madras High Court, in the case of East Coast Constructions and Industries Ltd. v. Assistant Commissioner [W.P. No. 26457 of 2023 dated September 11, 2023], granted the writ petition, overturning the Impugned Order. The Court directed the matter back to the Appellate Authority, emphasizing that the Petitioner hadn’t received a fair chance due to […]
The Delhi GST Department has recently issued important instructions (F.3/432/GST/Policy/2023/1048-1053 dated October 31, 2023) concerning the scrutiny of GST Returns for the Financial Year 2017-2018. As per the aforementioned subject, show cause notices (SCNs) have been issued by the Proper Officer for the year 2017-18. A period of 30 days is provided to taxpayers to […]
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 […]
Recently the AAAR again held the decision on the fact GST not applicable on notice payment and allowed canteen services ITC. The judgement of the AAAR Madhya Pradesh has been done in the regarding of M/S. Bharat Oman Refineries Limited [Advance Ruling No. MP/AAAR/07/2021 dated November 8, 2021]. The reversed fact is done on multiple […]
What is the Advance Tax? Advance Tax is a part of your taxes that is to be paid before the end of the financial year. It should be paid in the year in which the income is received. That is why it is also known as the pay-as-you-earn scheme. Submit Query for Advance Income Tax […]
