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GST ComplianceAmended Section 16(4) to de-link ITC on Debit Note with Invoice fails to get stamping of Gujarat AAR
The input tax credit is a beneficial piece of legislation but subject to various conditions and limitations prescribed under Section 16 and 17 of CGST Act, 2017. One of the conditions contained in Section 16(4) is that such a right is not indefinite and
GST ComplianceFinance Bill, 2021 receives the assent of the President: When would the GST related amendments become effective?
The Finance Bill, 2021 (‘the Bill’) presented by the Finance Minister on February 01, 2021, has finally received the assent of the President on March 28, 2021, and with that, the Bill stood enacted and has come into existence as the ‘Finance Act, 2021’
GST ComplianceCan Form -2A or Form-2B be a valid basis for the denial of ITC?
Can a recipient taxpayer be denied the benefit of ITC on the basis of the non-availability of the details of the tax invoice or debit note, etc. of the supplier-taxpayer in the Form GSTR-2A or Form GSTR-2B on the GSTN Portal? This issue has
GST ComplianceCan the buyer be denied the ITC on account of the fraud or malpractices committed by the supplier?
The Goods and Services Tax (GST) cannot be expected to be completely insulated from the adverse impact of the tax cascade prevalent in any Indirect tax system. However, with a view to mitigating – if not completely eliminate – this adverse impact of the
GST ComplianceGST on Clubs, Societies, etc. – A critical look…!
The issue whether Members‟ Clubs, Housing Societies or Trade and Industry Chambers / Associations come within the scope of service tax or VAT has always been mired into the legal dispute. The “principle of mutuality” has been at the roots of this dispute, based
GST ComplianceAAR Update- GST @5% applicable on pick up charges paid to the owner/driver
This post provides an update about the recent decision of the Karnataka Authority for Advance Ruling (‘AAR’) in the case of M/S KOU-CHAN TECHNOLOGIES PVT LTD (AAR No. KAR ADRG 22/2021) (“The Applicant”). The AAR was dealing with the transactions involved in a business model
GST ComplianceSupply of Goods with Installation Services- Composite Supply or Independent Supply?
In an Application filed before AAR, Karnataka by M/S. Bharat Earth Movers Limited, (BEML) Facts: The applicant has participated in the Tender and was a successful bidder for the Supply of “150 numbers of Standard Gauge Intermediate Cars compatible with and suitable for integration with
GST ComplianceClarification on Reporting 4-digit/6-digit HSNs: CBIC
GST helpdesk is in receipt of some tickets at helpdesk wherein it was reported that certain 6-digit HSN codes are not available in HSN Master/ not accepted on e-invoice/e-Waybill portals. Background: Notification No. 12/2017-Central Tax dated June 28, 2017, as amended vide Notification No. 78/2020
GST ComplianceCan the Taxpayer be Denied the Benefit of ITC on the Basis of Form-2A?
It is now well known that the benefit of Input Tax Credit (ITC) is available to a registered taxpayer under GST laws subject to the fulfillment of certain specified conditions. The 4 (four) pre-conditions are contained in Section 16(2) of the CGST Act, 2017 which
GST ComplianceFAQs on Furnishing Documents in Invoice Furnishing Facility (IFF) under QRMP Scheme: GSTN
1. What is Invoice Furnishing Facility (IFF)? Invoice Furnishing Facility (IFF) is a facility provided to quarterly taxpayers who are in QRMP scheme, to file their details of outward supplies in the first two months of the quarter (M1 and M2), to pass on the
GST ComplianceMaharashtra Govt. Introduced New Scheme for Withdrawal of the Assessment Proceedings
Maharashtra Value Added Tax Act, 2002. No. VAT- 1521/C.R. 1/Taxation1.- Whereas, on the implementation of the Goods and Services Tax in Maharashtra with effect from the 1st July 2017, the Government of Maharashtra vide Government Notification, Finance Department, No.VAT. 1518/C.R. 23/Taxation-1, dated the 23rd February
GST ComplianceE-invoicing – At a Glance
What is e-invoicing? As per Rule 48(4) of CGST Rules, notified class of registered persons (whose aggregate turnover in any preceding financial year from 2017-18 onwards, is more than prescribed limit) have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01)