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The issue faced by the small-scale dealers at the initial time of GST execution in learning the provisions of the GST act, Kerala High Court addressed. The orders of the assessing authority have been set aside by Justice Dinesh Kumar Singh disallowing the ITC claims of the petitioners and followed accordingly, The period involved is […]
SAG Infotech’s online Gen GST software simplifies the accurate ITC process in the GSTR-3B form. This is a useful cloud-based tool for return filing.
The Allahabad High Court recently ruled that valid reasons must support an order cancelling a GST registration. The Court stated that ‘reasons are the heart and soul’ of any order. The court held that the absence of reasons renders the order legally flawed. In this case, the Assistant Commissioner, Sector 25, State Tax, Kanpur Nagar, […]
In this post, we have discussed the recent GST changes effective from the 1st of October 2023. Sections 137 to 162 of the Finance Act, 2023 (the FA,2023) (except Sections 149 to 154) wef October 01, 2023 vide Notification no. 28/2023-Central Tax dated July 31, 2023. From August 01, 2023 Sections 149 to 154 of […]
The Ministry of Finance has officially announced that it will establish a bench planned for the Union Territory of Jammu and Kashmir. The establishment of 31 benches of the GST Appellate Tribunal (GSTAT), has already been announced earlier. According to official sources, the introduction of state-level GSTAT benches will expedite the resolution of disputes for […]
Reliance General Insurance, a subsidiary of Reliance Capital, has been served with multiple show-cause notices by the Directorate General of GST Intelligence (DGGI), totalling ₹922.58 crore. These notices include four separate claims requiring GST payments of ₹478.84 crores, ₹359.70 crores, ₹78.66 crores, and ₹5.38 crore respectively. The liabilities are concerning revenue generated from services such […]
The GST Council is set to clarify the input tax credit for life insurers, addressing a recent demand of Rs. 290 crore imposed on the Life Insurance Corporation (LIC). The state-owned giant is expected to get relief with this development. The complexity surrounding GST occurs in relation to traditional life policies or endowment plans, where […]
New India Assurance, a public sector general insurer, has recently received the largest-ever Goods and Services Tax (GST) demand notice among all insurers. The demand notice amounts to ₹2,379 crore. The notice is based on Section 73(1) of the Central Goods and Services Tax (CGST) Act, 2017, which deals with non-payment or short payment of […]
The Calcutta High Court has made an observation that the payment of GST should be made upon receiving payment for the execution of work contracts. Dipak Sarkar, the petitioner, is a contractor responsible for carrying out projects on behalf of the State Government. The petitioner’s concern arises from the fact that the Notification dated 16th […]
