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The Calcutta High Court ruled that the GST department could not calculate the penalty amount on a higher value compared to the invoice value without proper proof and reason. The bench of Chief Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya has marked that a transporter or owner of the goods is forced to carry specific […]
If an enrolled dealer availed for any advantage under Section 19 of the TNVAT Act 2006 then he needed to comply with the norms mentioned in the stated section, Madras High Court ruled. The applicant did not deliver the original tax invoice from a registered dealer, and thus, he is unable to complain that the […]
A person who is registered as a composition taxpayer cannot generate taxable invoices, collect GST from consumers, or claim ITC on purchases, according to the Central Board of Indirect Taxes and Customs (CBIC). The explanation came in response to a popular video showing a restaurant tricking patrons even though it was a composition taxpayer under […]
It is now three months since the launch of the GST e-invoice system. The system turned out to be the game-changer for all the taxpayers and also for the authorities, it provided easy transition of taxpayers to the new platform. As per report, After the launch of NIC developed GST e-invoice system Get to know […]
In the first month of the launch of the service, the assessee generated 4.95 crore GST e-invoices said IT and electronics officials. In October 6.41 crore GST e-way bills Know the details on blocking and unblocking e-way bill feature for non-filers of GST return. Also, we solved general queries through important frequently asked questions were […]
During judgment of a recent case, the Customs Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore has stated that Service Tax Refund paid are not applicable to subsequent GST invoices In a recent announcement, the Finance Ministry has said that no GST invoice will be required for the goods that were taken abroad for exhibitions […]
As per the current analysis, 27 thousand returns and 28,000 crore refund claims were found guilty of being fraudulent. These shocking figures have been revealed by the government saying that several unscrupulous assessees claimed ITC on false invoices At a time when reports of Central Government eyeing RBI Reserves to breathe fresh air to credit-starved […]
The new financial year brings along new rules and regulations like new alterations regarding Aadhar cards, GST, etc but there is no compulsion for fresh invoice number with the beginning of the new financial year. Rule 46 of the CGST Act does not bind any taxpayer to start a new invoice series for the new financial year, and they can continue from where they left by the end of the last financial year.
GST touted as the biggest taxation reform since Independence, it has been nearly 4 months since new indirect taxation regime was implemented across the country.
