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Hundreds of builders have obtained notices from the GST department where it seeks to reverse their input tax credit. For the years 2017-18 and 2018-19, the notices were issued. For the unsold apartments, the council seeks builders to reverse the ITC during procuring building use (BU). As the developers do not file the GST for […]
Traveling is favoured by all some people like to travel domestically and others prefer to travel abroad. But before travelling, everyone used to plan their trip at their convenience, however, sometimes they ignored the other related expenses such as GST rates on services by travel agents and tour operators. It is due to that we […]
GST council has sent notices to numerous businesses for the peculiarities in their claimed input tax credit (ITC). It arrives post-investigation of the ITC through these firms, which revealed differences between their annual returns. Under Section 150 of the CGST Act of 2017, the notices were issued that needed the assesses to provide a detailed […]
The 200% penalty has been quashed by the Calcutta High Court and ruled that the e-way bill made for the goods exported to Bangladesh lapsed because of an accident. Until and unless the council established that the goods transporter or the owner of the goods has intended to violate the provisions of the act, the […]
Revenue Secretary Sanjay Malhotra in a press conference said that the government’s objective is to remove the flexibility furnished to the buyers and sellers in amending their output obligation. The same action consists of locking the invoices and eliminating the edit option in the forthcoming fiscal year, a proposal that shall be reflected in the […]
During remanding the matter the Madras High Court ruled that the refund claim needed to be examined and determined established on the documents related to the claiming of the ITC and the export of the product on zero-rated grounds. The petitioner has incurred the GST refund claims on time and cannot be faulted for the […]
In the case of Vardan Associates Pvt. Ltd. vs. Assistant Commissioner of State Tax Central Section & Ors, the Supreme Court of India provided a judgment. The case concerns the transportation of goods and the levying of penalties after the expiry of the E-way bill validity. The Court declined the penalty levied on the appellant […]
The Calcutta High Court in a recent statutory development has provided a significant judgment for the case of Sunil Kumar Poddar vs. Additional Commissioner (Appeal) pertinent to the rejection of a Goods and Services Tax (GST) refund. The applicant has been involved in zero-rated goods supply asking for a refund of the unused ITC however […]
Till after the 2024 general elections’ major announcements may be held. The forthcoming interim union budget shows the chance to address the lingering subjects and set the phase for the coming economic growth. This budget seems to prioritize fiscal discipline and prevent populist measures. In the domain of the personal income tax, there is optimism […]
