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The Gujarat bench of the Authority for Advance Ruling (AAR) has ruled that an employer can claim Input Tax Credit (ITC) on the Goods and Services Tax (GST) paid for Non-AC Bus Transport Services provided to their employees by Transport Service Providers (TSPs) employing buses with a capacity of more than 13 seats. The judgment […]
According to a top government official, the income tax department has initiated an investigation into the claim that insurance businesses fraudulently claimed GST input tax credits. According to a senior government official, the department is attempting to prove that if these expenses are not legitimate, they must have avoided the income tax assessment. According to […]
The Jharkhand High Court dismissed ESL Steel’s GST Input Tax Credit (ITC) claim before the permission of the resolution plan by the National Company Law Tribunal (NCLT). The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan witnessed, the obligation of the earlier management might not get transferred to the present management however at that […]
In a recent decision, the Gauhati High Court made it clear that railways can not refuse GST reimbursement due to pricing variations just because the payment of output tax was carried out through an electronic credit ledger and using Input Tax Credit (ITC) under the GST Act. The single-judge bench, chaired by Justice Devashis Baruah […]
The Bombay High Court took a case for cognizance on Monday regarding the use of coercive actions by GST authorities to collect taxes from taxpayers. The respondents argued in court that tax payments have already been paid voluntarily, and the court confirmed that the petitioner can ask for a refund if they have already paid […]
According to official sources aware of the ongoing investigation, a central agency tasked with preventing the loss of Goods and Services Tax (GST) revenue has finished its investigation into at least 6 of the 30 insurance companies it is looking into over allegations of improper commission payments to their agents and is in the process […]
GST council in its forthcoming meeting dated 11th July would seem to address and authorize the revisions in the mechanism to fetch the bogus ITC claims. The revisions would have the listing of the risk profiling parameters of the entities comply with the physical verification. The GST Council will need to approve any modifications to […]
On Wednesday, Sanjay Kumar Agarwal, a member of the CBIC, stated that additional efforts are required to get a solution for fake GST input tax credit (ITC) generators from the system in order to stop tax evasion and boost GST collection. He said that the government has taken a number of measures to deal with […]
A single bench of Justice C. Saravanan of Madras High Court ordered the purchaser to create a pre-deposit of 200% of the maximum fine or a replacement furnish Bank Guarantee in terms of Section 129(c) of the respective Goods and Services Tax ratification and the Rules made under that. After furnishing Bank Guarantee for the […]
