Powerd By SAG INFOTECH
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A very significant month has arrived for all the taxpayers under GST i.e. September as it will be the last month for the taxpayer to claim any pending credits for the invoices issued between 2017-18 time period and to rectify any error in the return form of the year.
In a ruling made recently, the Maharashtra Appellate Authority for Advance Ruling for Goods and Services Tax (AAAR-GST) has decided that Input Tax Credit (ITC) is not available to CMS Info Systems on purchase of motor vehicles for the sole purpose of carrying cash to be used by cash management companies and supplied as scrap thereafter.
Global locomotive maker which have put billions of dollars for Make in India programme of the government railways such as Alstom, Bombardier, and GE has sought to influence the finance ministry for the challenges faced under the new Indirect tax regime.
DBB, a large FMCG sector company, has filed a petition in the Nainital Bench of the Uttarakhand High Court. The petition is regarding Dabur’s refusal to pay ITC under GST on goods manufactured in special exempted states during the VAT regime.
Online food delivery service providers are in hard situations as the decision of withdrawal of input tax credit provision from the restaurants had become an extra burden on both the eatery and service provider.
The current sorry state of the once flourishing Surat’s Textile Industry can be attributed to the policies of the State Government.
The increase in the frequency of notices served for mismatch of input tax credit (ITC) claimed in the GSTR-3B forms filed by the taxpayer against that of the auto-generated GSTR-2A form must clear all doubts that exist regarding the efficiency of GST.
The provisions of ITC or Input Tax Credit under GST is at the centre of a major scam. Some businesses were prospering buy issuing fake GST bills or invoices. In the process, the businesses ended up gobbling a whopping amount of Rs 450 crore as part of the liable ITC.
A GST seminar was organized recently by the Tax Practitioners Association. The venue was Indore’s very own and famous Pritamlal Dua Auditorium.
