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In 2017, the GST which is a destination-based consumption tax was incorporated. As per the GST framework, particularly for the businesses that are involved in the exports and supplying the Special Economic Zones (SEZs), the concept of zero-rated supply poses influential importance. The provision of goods or services that are either exported or provided to […]
Filing of fresh calculations has been allowed by the Calcutta High Court to get the refund as regards the GST Refund claim in the Transition Phase. West Bengal State Rural Development Agency (WBSRDA) is an agency under the Department of Panchayat and Rural Development. The writ petition has been filed, claiming the negligence of the […]
The allegations of claiming the bogus credit could not be the basis for refusing the applications for the refund held by the Delhi High court until the same would be accomplished that the applicant does not obtain the goods or paid for them. The applicant is qualified for the GST ITC refund on the goods […]
The 50th Goods and Services Tax (GST) Council meeting is in progress today, on July 11th, 2023. Chaired by Union Finance Minister Nirmala Sitharaman, this meeting holds paramount importance in discussing crucial taxation issues. It is important to note that the information shared is reflective of the present circumstances. We will continue to provide you […]
The Delhi High Court ruled that under Rule 86 A of the CGST 2017, the restriction of the input tax credit (ITC) cannot be more than one year. The petitioner, M/s Parity Infotech Solutions Pvt. Ltd., complained about the instruction, which was dated March 8, 2012. Special Commissioner-V, Department of Trade and Taxes, issued the […]
Under Reverse Charge Mechanism (RCM), the Odisha Authority of Advance Ruling (AAR) held that GST should be levied on renting the residential premises on rent as a guest house. Case Fact Petitioner Opinion An advance ruling has been filed by the petitioner on whether the rented residences would be utilised as a guest house through […]
As we arrived at the last month of the accounting year (March 2023), it reveals some essential facts that are needed to be considered in the current month in order to have an easier operation in the subsequent year without taking the assistance of the former year. Below mentioned are the points that need to […]
The Goods and Service Tax (GST) is not applicable for consideration paid on sales of property plots, according to a recent ruling by the Karnataka Appellate Authority for Advance Ruling (AAAR) under GST. In order to convert her three acres of property from agricultural to residential use, applicant Rabiya Kanum formed a small plot and […]
Towards the willful failure to file the ITR, during maintaining the conviction for an offence under Section 276CC of the Income Tax Act, 1961, a Mumbai court would state that a presumption of the culpable mental state from the taxpayer’s admission could have emerged who files the ITR of the company of which he would […]
