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On the concern of unblocking the ITC, the Delhi government has issued the rules beneath GST on the expiry of one year from the blocking date. The officers have the authority to restrict the ITC beneath Rule 86A of the GST Rules, 2017 which the assessee claims fraudulently. Sub-rule (3) of the articulated Rule prescribes […]
The public is said to take precautions while sharing the Aadhaar and PAN information without any valid reason or towards the financial gains specifying that the details can be misused by the bogus people for GST theft, said CBIC. Central Board of Indirect Taxes and Customs (CBIC) mentioned that the Aadhaar and PAN information would […]
Union Budget 2022-23 is based on digitization along with the simplicity of doing the business. The main focus of the budget is on the amendment in the taxes to respond to the hurdles which are being suffered by the assessee. Since the coming of the GST, there are several indirect tax measures that are presented […]
It came into the concern of the businessmen when Delhi Disaster Management Authority announced to keep private offices shut. While several of them have argued that it is not possible or feasible to work from home in every business. They also explained that it would not possible especially for the small business to work from […]
The tax refund will not take place towards the extent of the non-reversal ITC under GST said by the commissioner. The petitioner is the owner of the M/s Stone Craft (India) Pvt Ltd which is a 100% exporter and poses the business of purchasing, processing, and exporting of the natural stone and does not involve […]
Under GST the new year 2022 is going to draw the important amendments in the way of claiming the GST ITC via assessee. Another condition to claim the GST ITC via the recipient of goods and services made by the Finance act 2021 would get effective from 1st Jan 2022. Through the forthcoming amendments, the […]
A decision of Singhbhum Chamber of Commerce and Industry conducted through president Vijay Anand Moonka met Central GST commissioner, M Rahman, and submitted a memorandum directed to Union finance minister Nirmala Sitharaman in the GST amendments. The ITC towards the invoices and debit notes would be available only towards the extent which is filed via […]
Under the GST regime, the finance ministry has circulated a notice dated 1st Jan 2022 as the date towards the norms pointing 100% invoice matching essential for GST ITC (Input Tax Credit). Towards every taxpayer, the framework computes GST ITC based on the return furnished through his or her supplier. “These curb the chance of […]
The Rajasthan High Court in the case of Vinayak Plylam Marketing Vs Superintendent, Central Goods, and Service Tax and Ors. rendered tax authority to immediately unblock the GST ITC claimed inside the electronic credit ledger via applicant since the statutory time limits given in Rule 86A of the CGST Rules, 2017 has passed. Advocate Prakul […]
