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What are GSTR-2B and GSTR-3B? GSTR-2B is a system-generated statement that furnishes information about all inward supplies or purchases, including information on eligible and ineligible Input Tax Credits (ITC) for a tax period. It acts as a verification tool, auto-populated based on the GSTR-1, GSTR-5, and GSTR-6 filed via suppliers. GSTR-3B is a self-declared monthly […]
The Gujarat High Court ruled in favour of Patanjali Foods Ltd. (Patanjali), keeping the refund of unutilized Input Tax Credit (ITC) of Rs 1,70,07,091, which was initially granted but subsequently desired to be recovered by the revenue. The applicant, Patanjali Foods, is a foremost manufacturer and seller of edible oil who applied for an ITC […]
The West Bengal Authority for Advance Ruling (AAR) ruled that the hiring of fitted assets, including air-conditioning systems, fire sprinklers, diesel generator (DG) sets, and electric installations, is categorized as a leasing or rental service and is subject to an 18% Goods and Services Tax (GST). The AAR made the ruling against an application submitted […]
Taxpayers who filed their annual return (GSTR-9) and reconciliation statement (GSTR-9C) before the amnesty notification date can still avail of the late fee waiver benefit, the Himachal Pradesh High Court ruled. It was noted by the bench of Acting Chief Justice Tarlok Singh Chauhan and Justice Satyen Vaidya that the objective of the government for […]
The government, in relief to Goods and Services Tax (GST) payers, seems to have revised the rules of Central GST (CGST), permitting the recipients of goods and services up to two months to accept or reject a credit note and adjust the Input tax credit as per that. The taxpayers currently using the Invoice Management […]
An Overview of GST and the Requirements for Registration Goods and Services Tax (GST) is a comprehensive indirect tax imposed on the supply of goods and services in India. The GST regime was introduced in 2017, which has substituted multiple cascading taxes like excise duty, VAT, and service tax, facilitating the country’s taxation system. The […]
The West Bengal Authority for Advance Ruling (AAR) in a ruling has determined that Polyvinyl Chloride (PVC) raincoats shall be categorized under HSN 3926 as plastic articles and attract a Goods and Services Tax (GST) of 18%. The AAR ruling came following an application filed by Aristocrat Industries Private Limited (Aristocrat), a Kolkata-based manufacturer that […]
The Gauhati High Court has kept the constitutional validity of CGST Rule 36(4). The provision specifies documentary needs and conditions for a registered person claiming input tax credit (ITC). It was noted by the division bench of Chief Justice Vijay Bishnoi and Justice N. Unni Krishnan Nair that the provision was legislated based on the […]
In Haryana, the Gross GST revenue increased by 20 per cent to Rs. 9,925 crore in February 2025 from Rs 8,269 crore in the same month of last year, an official release stated. In the collection of Goods and Services Tax (GST), the Excise and Taxation Department, Haryana, has achieved significant growth. Gross GST revenue […]
