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The Allahabad High Court’s recent ruling stipulates that an assessee is ineligible to claim input tax credit unless they successfully demonstrate unambiguous proof of the actual transaction and the physical movement of goods. Referring to Sections 16 and 74 of the UP Goods and Service Tax Act, 2017, Justice Piyush Agrawal stated that “it is […]
The West Bengal Authority for Advance Ruling (AAR) has made a significant ruling stating that Goods and Services Tax (GST) does not apply to the services involving the printing of question papers for educational institutions. The applicant, Saraswaty Press Limited, operates in the printing business, which includes the printing of question papers specifically for educational […]
Dabur India joined the growing list of companies that have received tax notices, as the Goods and Services Tax (GST) authorities issued a demand of over Rs 320 crore. Dabur India, a consumer goods company, has stated its intent to challenge this demand with the relevant authorities. In recent months, a variety of businesses spanning […]
SAG Infotech’s online Gen GST software simplifies the accurate ITC process in the GSTR-3B form. This is a useful cloud-based tool for return filing.
When a tax officer issues form GST DRC-01 to a taxpayer due to non-payment, underpayment of taxes, improper utilization of input tax credit, or issuance of an erroneous refund, and the taxpayer fails to settle the outstanding amount, they are labelled as defaulters. In accordance with clause (a) of sub-section (1) of section 79 of […]
In this post, we have discussed the recent GST changes effective from the 1st of October 2023. Sections 137 to 162 of the Finance Act, 2023 (the FA,2023) (except Sections 149 to 154) wef October 01, 2023 vide Notification no. 28/2023-Central Tax dated July 31, 2023. From August 01, 2023 Sections 149 to 154 of […]
With regard to the process for matching the credit note of the supplier with the ITC reversal, the Rajasthan High Court seeks recommendations from the authorities. In the absence of any legal obligation cast on the respondent to perform the matching actions when the applicant wishes to avail the decrease in the liability of tax, […]
Recently, the Bombay High Court has ruled that the amendment made in accordance with section 54 of the Income Tax Act, 1961, doesn’t have a retrospective impact on limiting investments in India. This amended provision takes effect from April 1, 2015, and will be applicable in the future, but not before the amendment date. The […]
The capital gain exemption is not available for the residential house brought abroad post 1st April 2015. For the period prior to AY 2015-16 or to the introduction of the words “in India” in Section 54 of the Act vide Finance Act No. 2 of 2014, which came into effect on April 1, 2015, the […]
