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To restrict the fake ITC claim and tax evasion, the CBIC would reveal nearly 40,000 GST returns for 2018-19 relying on the risk parameters for the scrutiny. The same shall be the 2nd batch of GST returns that will be liable for investigation post to CBIC has shown 35000 GST Identification Number (GSTINs) (allocated to […]
In times of pandemic, the realty sector has suffered the most and the sales of the relevant sector have also been affected. Also, several GST issues have been faced by the real estate sector in India. These issues are stopping better compliance communication with the new indirect taxation system. Below is the list of all […]
A host of procedural amendments in the GST compliances is being reported by the government, along with the levy of interest for the bogus usage of input tax credit and the turnover limit for furnishing the yearly returns for 2021-22 fiscal. GST administration investigated the changes at its meeting in the former week. Through the […]
Inside the indirect tax system, the GST began to remove the inefficiencies. The GST has been able to achieve some of its goals while there is much more yet to be done, particularly when it is being the question of the smaller business entities. This new system has thrown up prior to facing the challenges, […]
As the assessee suffers from the technical issues on the GST portal, the government has prolonged the GSTR-3B last date for April tax payment till 24th May 2022 via notification number 05/2022 and has rendered Infosys for the early resolution of the issues. Also, the central government has extended the deadline of the GST PMT-06 […]
The Delhi High Court bench of Justice Mukta Gupta rendered that the bail amount could be paid by cash ledger and debit ledger of GST Input Tax Credit (ITC). The council alleged that the applicant is one of the directors/key persons in M/s Brilliant Metals Pvt. Ltd., M/s Progressive Alloys India Pvt. Ltd. and M/s […]
The Madras High Court bench of Justice C. Sarvanan has held that the refund of input tax credit (ITC) could not refuse even the duty drawback that has been claimed by the taxpayer. The goods defined under Customs Heading No.8483-40-00 of the Customs Tariff Act 1975 have been exported by the petitioner and claimed the […]
The Telangana Authority of Advance Ruling (AAR) has the members B. Raghu Kiran and S.V. Kasi Visweswara Rao have headed that IGST paid on imports is qualified to be claimed as an ITC towards intra-state and inter-state sales. The applicant, M/s. Euroflex Transmissions (India) Private Limited wants to furnish the imported goods from the port […]
The Tamil Nadu Appellate Authority of Advance Ruling( AAAR ) ruled that inputs or input services procured for a promotional scheme of products are not qualified for ITC. The appellant, M/s GRB Dairy Foods Pvt. Ltd is involved in the business of making and supplying ghee, masalas, instant mixes, and sweets. With the goal of […]
