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The Gujarat Authority of Advance Ruling (AAR) has determined that rooftop solar systems, inclusive of installation and commissioning, are considered plant and machinery. In the assessment conducted by the bench comprising Amit Kumar Mishra and Riddhesh Raval, it has been concluded that applicants have the entitlement to claim Input Tax Credit (ITC) on rooftop solar […]
the National Restaurant Association of India appealed to the government to reinstate input tax credit for restaurants. Additionally, they recommended an increase in the GST rate existing 5% to 12% in anticipation of the upcoming Union Budget. In a letter addressed to Finance Minister Nirmala Sitharaman, the National Restaurant Association of India emphasized the need […]
In a recent legal matter, the Delhi High Court mandated the commencement of proceedings only upon issuance of a comprehensive Show Cause Notice (SCN) providing full particulars concerning the Income Tax Credit (ITC). RS Wires Industries filed a writ petition challenging the show cause notice issued by the respondent under Section 29 of the Goods […]
The Hon’ble Allahabad High Court reviewed the matter of M/S Shree Krishna Traders Vs State of UP and another – 2023 (10) TMI 927 – Allahabad High Court and resolved the writ petition by overruling the impugned directive given. The court remitted the case back to the revenue division for further study, instructing them to […]
The central air conditioning plant, lift, electrical fittings, and fire safety extinguishers are immovable property and do not qualify for input tax credit (ITC), Gujarat Appellate Authority for Advance Ruling (AAAR) noted. The petitioner, M/s. The Varachha Co-Op. Bank Ltd., furnished that they are building a new administrative building and incurring the cost of distinct […]
The High Court of Andhra Pradesh has rejected the Writ Petition filed by an assessee opposing the rejection of the GST input tax credit (ITC) claim made manually instead of electronically submitting Form GST ITC 02. The court noted that the taxpayer did not provide evidence to the respondent even after being given an opportunity. […]
Input Tax Credit (ITC) serves as a taxation mechanism, allowing businesses to offset taxes paid on inputs against the taxes due on their output. Essentially, it permits businesses to claim a credit for taxes paid on purchases, thereby reducing their overall tax burden. The limitations on Input Tax Credit (ITC) are detailed in GSTR-2B, Section […]
Here are three important changes under GST law that have come into effect from 20th October 2023 that will affect your input tax credit availability. Cab Rental Services for Passengers In the services, the condition has been inserted via renting any motor vehicle designed to carry the passengers in which the fuel cost is been […]
The GST Council is expected to provide clarity regarding the refund of accumulated Input Tax Credit (ITC), from the date of issuing the notification, for the construction of civil structures such as bridges and roads that are not intended for sale to buyers, as per a senior government official. The official mentioned that the clarification […]
