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Search results for: input tax credit

Himachal Pradesh HC Order for M/s Pooja Cotspin Limited

HP HC: Cancel Portion of ITC & Refund GST ITC with 6% Interest

The Himachal Pradesh High Court has removed the order of Excise and Taxation commissioner disallowing the portion of GST ITC and rendered the refund of the balance ITC with 6% interest. The applicant is the owner of Pooja Cotspin Limited is an enrolled dealer beneath the Himachal Pradesh value-added tax, 2005. The assessing authority assessed […]

Haryana AAAR's Order for BMW/Appellant

Haryana AAAR: No GST ITC Benefit to BMW on Demo Vehicle

The Haryana Appellate Authority of Advance Ruling (AAAR) bench comprised of Amit Kumar Aggarwal and Anil Kumar Jain held that the (ITC) is not permissible on demo cars/vehicles. Towards running a training centre for the training of Engineers and Marketing professionals BMW/Appellant has been enrolled in GST at Gurugram as a State-administered taxpayer. They get […]

CBIC Alerts Taxpayers for PAN & Aadhaar Details

Fraudsters May Use Your PAN & Aadhaar for GST ITC Evasion, CBIC

The public is said to take precautions while sharing the Aadhaar and PAN information without any valid reason or towards the financial gains specifying that the details can be misused by the bogus people for GST theft, said CBIC. Central Board of Indirect Taxes and Customs (CBIC) mentioned that the Aadhaar and PAN information would […]

Solution for Businesses As Per New GST Norms

New Amendments in GST Norms and Their Systematic Solution

In recent times, the Goods and Services Tax (GST) law has experienced important GST amendments. It just surges the mandatory reconciling of the GST data in a more regular way to prevent the differences amid GSTR-1, GSTR-3B, and GSTR-2B. The same rises the challenges to the new business which would be addressed through the technology. […]

New GST E-invoicing Rule for Firms T.O. 20Cr

New Limit of GST Invoicing to Push 180k Firms into Compliance

The essential electronic invoicing of business to business B2B transactions towards the firms that have a turnover exceeding Rs 20 cr would raise the GST enrollment by 75%. The latest system which will be applicable from 1st April would add 180,000 GST identification numbers (GTINs) increasing from the current 240000 to nearly 420000. Beneath GST […]

Gujarat HC Judgement for Rajkot’s Utkarsh Ispat LLP

Gujarat HC: Partner’s Properties Can’t be Attached for GST Dues

The Gujarat high court recently with the justices J B Pardiwala and Nisha M Thakore had discarded the order of provisional attachment which said that the GST officials are not eligible to provisionally attach personal properties of the partnership partner’s firms with the final liability determination of the firms which had been wrongly accused of […]

Uttar Pradesh AAR Order

UP AAR: No GST ITC on Commercial Complex Construction Expenses for Rental

In a recent ruling by the Uttar Pradesh Authority of Advance it was found that the ITC, the input tax credit is not available for the expense incurred on the construction of the complex which is further given for lease. The KRBL infrastructure limited which is also the applicant offers services like construction of commercial […]

Major Reforms for Easy GST Compliance

Highly Recommended Reforms for Easier GST Compliance in New FY

As India has entered into the year 2022 after a disastrous year and a quarter because of a pandemic and the tax structure is the basic part of the regeneration plan. When it comes to GST ( Goods and Services) which has been already going ahead while establishing its position and has been asked time […]

New ITC Changes a Boon or a Bane for GST Suppliers

GST ITC Restrictions Bring Positivity or Negativity: Analysis Here

Union Budget 2022-23 is based on digitization along with the simplicity of doing the business. The main focus of the budget is on the amendment in the taxes to respond to the hurdles which are being suffered by the assessee. Since the coming of the GST, there are several indirect tax measures that are presented […]

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