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The announcement for restructuring of the state GST department dated 19th January will be done by Chief Minister Pinarayi Vijayan said Kerala Finance Minister KN Balagopal. Kerala FM stated that there would be a restructuring of the GST council. At present three sections would be there, taxpayer, audit, and intelligence. There shall be much more […]
A division bench of the High court would circulate the ruling that eases the taxpayer in which the court permitted the taxpayer to rectify GSTR-1 for obtaining the ITC since there was a bonafide mistake of filing Form-B2B rather than B2C. The applicant, Shiva Jyoti Construction before the Court asking for a decision from the […]
No GST shall be applicable to the government incentives provided to the banks for motivating the practice RuPay debit cards and low-value BHIM-UPI transactions, under the finance ministry. The cabinet ministry has authorized a Rs 2,600-crore incentive program for banks to facilitate RuPay debit cards and low-value BHIM-UPI transactions in the current year. “As recommended […]
What is GST Rule 88C? The Achilles’ heel of GST has always been the mismatch in GSTR-1 and 3B. There have been several cases when ITC was transferred by the supplier via GSTR-1 even though taxes had not yet been refunded via GSTR-3B. While some of the discrepancies in GSTR-1 and 3B relate to tax […]
According to the Andhra Pradesh High Court, the GST department is not permitted to keep the disputed money that was unintentionally paid to them. The division bench of Justice C. Praveen Kumar and Justice A.V. Ravindra Babu tracked, the amounts furnished by the taxpayer who has filed the wrong information could not be treated as […]
From January 1st, 2023, the GST rate was reduced for a few commodities in India. Furthermore, few were GST-exempt. On December 30, 2022, the Central Board of Indirect Taxes and Customs (CBIC) released new CGST notifications, putting into effect changes announced at the 48th GST Council meeting earlier in the same month. The GST rates […]
The Madras High court ruled, the dealer holds with 2 choices: refund or carry forward the Input tax credit to the GST regime. A single bench of Justice M. Sundar, the dealer could not be forced to choose one of the two i.e refunds or carry forward Input tax credit to the GST regime. The […]
The Central Board of Indirect Taxes and Customs has made it clear that once a company enters the bankruptcy process, it cannot be made to pay back taxes, such as GST, in excess of the “reduced amount” established. Banks and investors will benefit from the change in a more assured way. CBIC mentioned that when […]
The Central Board of Indirect Taxes and Customs (CBIC) specified that the entitlement of ITC in which the supply place is defined for the proviso to sub-section (8) of section 12 of the Integrated Goods and Services Tax Act, 2017. Under clause (a) of the mentioned subsection, the supply place of the services through the […]
