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It was carried by the Delhi High Court that refunds, be it from the balance left in the electronic cash or the Electronic Credit Ledger, are considered at par and the Commissioner under the Central Goods and Services Tax Act may withhold both in the practice of its powers u/s 108. Section 108 provides the […]
In the last few years, Limited Liability Partnerships (LLPs) have become popular within the small businesses landscape. LLPs provide limited liability, shielding partners’ assets from business responsibilities and liabilities. This structure has made LLPs most adopted by various professionals, including consultants, doctors, lawyers, and accountants. Since their introduction in 2008, LLPs have gained significant popularity […]
An important advisory has been issued by the Goods and Services Tax Network (GSTN) on the updated introduced Form GST DRC-03A. It was introduced for demand adjustments in the electronic obligation register for the assessee. What is the New GST DRC-03A Form? The amendment has arrived in answer to the instances where the assessees used […]
The Goods and Services Tax (GST) portal has activated Form DRC-03A which allows the taxpayers to adjust or set off the voluntary payments against the order of demand. The same new form is been introduced Under Notification 12/2024, which is an addition to the GST compliance process. The DRC-03A form acts as a continuation of […]
The Madras High Court in the case of ignorance of the Goods and services tax (GST) recovery notices along with the hearing notices ordered the pre-deposit of 25% from the Electronic Cash Ledger (ECL) for fresh consideration. The applicant, Sornam Medicals asked for relief from the order on 31.12.2023 furnished via the second respondent, following […]
The Patna High Court in the matter of Raiyan Traders vs. the Assistant Commissioner, the State of Bihar, the Additional Commissioner of State Taxes (Appeals), Patna vide Civil Writ Jurisdiction Case No. 12994 of 2024 dated 06.09.2024, addresses the problem on the existing legal debate on whether the GST pre-deposit for the appeals can get […]
The Goods and Services Tax Network ( GSTN ) Under Rule 37A of the Central Goods and Services Tax Rules, has introduced a process for the reversal of Goods and Services Tax ( GST ) Input Tax Credit ( ITC ) when the supplier is unable to file the GSTR-3B return within the GST Portal. […]
It was mentioned by the Gujarat High Court that no blocking of the credit in the electronic credit ledger is there if the available balance is not enough. The Division Bench, including Justices Bhargav D. Karia and Niral R. Mehta, was hearing a case where the taxpayer argued that the blocking of Input Tax Credit […]
The blog specifies the major aspects of LLP audits more efficiently and furnishes the answers to common questions. It is important for professionals and entrepreneurs to understand the audit needs of a Limited Liability Partnership (LLP) to ensure compliance with the law. LLPs are separate lawful entities directed to distinct compliance norms, auditing, and taxation. […]
