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The Goods and Services Tax Department has extended its investigation against some insurance companies on the belief that they are involved in the wrongful availment of the Input Tax Credit (ITC). The Director General of GST Intelligence (DGGI) is expected to issue show cause notices to 10 more insurers soon, taking the number of firms […]
The option to submit final annual returns (GSTR 9) and reconciliation statements (GSTR-9C) through the GST Portal has been enabled by the Goods and Services Tax (GST). The deadline for submitting the FY 2022-2023 returns and statements is December 31, 2023. Regular taxpayers in India who are registered for the Goods and Services Tax (GST) […]
The Bombay High Court (HC) chaired by Justice Abhay Ahuja and Justice Nitin Jamdar ordered the Sales tax department to review the Goods and Services Tax (GST) Input Tax Credit (ITC) application for refund. It was also ordered by the High Court to assess the evidence that the petitioner presented along with the invoices and […]
The insurance industry, which is now facing penal actions by tax officials for violating input tax credit rules for the goods and services tax (GST), and the finance ministry had refused to mediate in the plea made for relief in this matter. According to those with knowledge of the situation, the ministry has sent the […]
A request has been presented before Union Finance Minister, Nirmala Sitharaman by the Gujarat Chamber of Commerce & Industry (GCCI) to dismiss the interest and penalty for Integrated Goods and Services Tax (IGST) levied under notification No. 54/2018 dated October 9, 2018. The GCCI stated that the representations received are from its different member units. […]
According to the latest GST notification on GST registration revocation the High Court of Karnataka has permitted to file the cancellation of the application, an application would get filed outside the time limit can be applied again when the cancellation of the registration was incurred prior to the date 31.12.2022. Read Also: Rajasthan HC: Assessee […]
What is Section 16 Under CGST Act? Section 16 of CGST ACT 2017 is concerned with the Input Tax Credit mechanism, which permits the assessee to offset the GST Input Tax Credit with the GST Output Tax Liability. The same shall assist in preventing the cascading effect of taxes and promote a seamless flow of […]
In a recent ruling, the Gujarat Appellate Authority for Advance Ruling (GAAAR) held that 18% Goods and Services Tax (GST) is pertinent to the services supplied via the sub-sub-contractor to sub-contractors. M/s Shreeji Earth Movers (sub-sub-contractor), the petitioner who is the work contractor and operates and performs the composite supply of works contract as specified […]
The Delhi Bench of Appellate Authority for Advance Ruling (AAAR) stated that the Ministry of Housing and Urban Affairs (MoHUA), does not exempt from Goods and Service Tax (GST) on the sale of commercial built-up areas. The petitioner, NBCC India Ltd is a Government of India company whose operation is a project management consultancy, real […]
