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The Authority of Advance Ruling (AAR) of Gujarat state ruled that the Input Tax Credit (ITC) is not available towards the GST paid on input services of Lease Premium towards which GST has been imposed. The petitioner is the owner of JM chemicals furnished that long term lease premium gets privileged from the tax beneath […]
The Madras High Court ordered the GST Authority to permit for furnishing the amended Form TRAN-1 by beginning the GST portal as an advantage of Input Tax Credit (ITC) would not be disappointed on the basis of technicalities. The respondent, M/s.Bharat Electronics Limited had filed a claim for Input Tax / CENVAT Credit via filing […]
GST rates revision which is subjected to apply to the textile industry to rectify the tax anomaly dated 1st Jan and this helps in securing the money used as working of businesses and lessens the compliance load and solves the ITC concerning issues the textiles ministry. GST officials decided to amend the tax anomaly known […]
GST field officers can restrict the tax credit as of now upon the grounds of the sources found and it is apart from the suspicion said CBIC (Central Board of Indirect Taxes and Customs). The sources specified that there could be five situations in which these credits can be restricted via senior tax officers. “These […]
The Goods and Service Tax Networks (GSTN) provides that the advisory for the assessee on Form GSRT-2B in which it specified that the availability of ITC furnished available to the assessee in the afternoon of 14th of every month. Form GSTR-2B is an auto-drafted ITC statement i.e generated towards every assessee up on the grounds […]
The Madras High Court ruled that the GST council must discuss the causes towards blocking Input Tax Credit (ITC) to the assessee. The applicant is the owner of HEC India LLP urging the respondents to allow the applicant to debit a sum of Rs 47,30,457 through its electronic credit ledger displayed in the ledger. The […]
The industry has asked that interest be paid on the inappropriate input tax credit, which was profited however not used under the goods and service tax (GST) administration, be returned. Meanwhile, in the recent meeting, the GST Council liberated these credits from interest rates from July 1, 2017, when GST was entered. Although, it did […]
The latest feature has been updated on the GST portal in which the assessee can avail of the ITC despite it is not shown in GSTR-2A or 2B which is a bigger advantage to assessees. To support the importers of goods along with the recipients of the supplies via SEZ search bill of entry that […]
The West Bengal AAR held that the ITC is not permitted upon the invoices for Jan to March-2020 to which the supplier has filed the FORM GSTR-1 and FORM GSTR-3B. The applicant is the owner of Eastern Coalfield ltd which produces and supplies the coal and obtained the services from M/s Gayatri projects ltd and […]
