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As per the circular issued by the government, the treatment of trade discounts and credit notes under the Goods and Services Tax (GST) regime; however, the experts caution that it may shift compliance and cash flow burdens onto FMCG distributors. Credit Notes and GST ITC According to GST circular 251, financial or commercial credit notes […]
GST-related 3000 complaints have been received by the National Consumer Helpline since the inception of the revised rates. For additional action, some of these complaints are being sent to the Central Board of Indirect Taxes and Customs (CBIC). Consumer Affairs Secretary Nidhi Khare stated, “Every day, we are receiving complaints. So far, we have received […]
The Madras High Court has directed the proper adjudication on whether a former director can be obligated for the tax arrears of the company and considered the bank attachment issued against him as a show cause notice. A writ petition has been submitted by Subir Ghosh contesting the bank attachment notice dated 29 July 2024 […]
The Patna High Court recently annulled decisions made by the Goods and Services Tax (GST) Adjudicating and Appellate Authorities. This action was taken due to the authorities’ oversight in not adequately considering the evidence presented by the appellant to support their claim. Binay Rice Mill, operating under the name Sharda Ram Industries and led by […]
The Life Insurance Corporation of India (LIC) experienced significant inflows, surpassing Rs 1,100 crore, on the first day following the repeal of the Goods and Services Tax (GST) on individual traditional life insurance policies, as reported by The Economic Times. The recent surge in monthly premium income is striking when compared to the ₹5,000 crore […]
The Allahabad High Court has initiated proceedings to examine the constitutional validity of Section 127 of the Central and State Goods and Services Tax (GST) Act, 2017. The court has issued notices to both the office of the Solicitor General of India and the Advocate General of Uttar Pradesh, requesting their responses to a writ […]
In a case about the rejection of the GST ITC claim due to allegations of a non-existent entity and fake invoices, the Orissa High Court mandated the parties to avail the statutory remedy and disregarded the petition. The applicant, Amit Metalics Company has contested the order on 1st July 2025 passed under section 74 of […]
A crucial update will be implemented on the GST portal by the Goods and Services Tax Network (GSTN). This amendment could permanently block your Input Tax Credit (ITC). Let’s find out how. Three years after the due date for filing GST returns, the GSTN declared that taxpayers would be unable to furnish their GST returns. Taxpayers have not […]
The GSTAT has released a comprehensive User Advisory aimed at taxpayers, tax officers, and authorised representatives concerning the recently launched GSTAT e-filing portal. This advisory highlights essential timelines, necessary conditions, and procedural safeguards for filing second appeals under section 112 of the CGST Act. The advisory highlights that the filing process will operate on a […]
