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The High Court of Andhra Pradesh for the case of Thirumalakonda Plywoods Vs. The Assistant Commissioner would incorporate three crucial observations: (i) Point No.1: The time limit specified to claim input tax credit (ITC) U/s 16(4) of APGST Act/CGST Act, 2017 is not violative of Articles 14, 19(1)(g) and 300-A of the Constitution of India. […]
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 […]
In just six years, the Goods and Services Tax (GST) has increased significantly. From around 68 lakh in 2017 to around 1.4 crores the number of assessees would have twice, indeed the average monthly revenue has also climbed approx to the identical rate from near to Rs 90,000 crore in 2017-18 to Rs 1.69 lakh […]
In a recent move, taxpayers under the Goods and Services Tax (GST) are allowed to explain the errors or discrepancies in their inward and outward supply filed in tax returns on the GST portal itself, without being worried about receiving notice from the tax authorities. The Central Board of Indirect Taxes and Customs (CBIC) has […]
Full credit of the GST charge would comprise inside the tax invoice through the supplier despite future commercial or financial credit notes would get issued, Andhra Pradesh Authority of Advance Ruling (AAR) stated. There would be no need for the petitioner to reverse the proportionately of ITC to the extent of the fiscal or commercial […]
On Saturday, Rajiv Talwar, a member of the Central Board of Indirect Taxes and Customs (CBIC) was provided with suggestions regarding GST by the Indore city traders, tax advisors, and industrialists. He learned about what problems its stakeholders are facing with the GST. Read Also: CBIC Recommends New Validations of GST Return Forms for Tracking […]
