ITC can’t be denied under GST even when post-supply discounts received: AAR
Input tax credit would not be denied under the goods and services tax (GST) system even when a company receives post-supply discounts,…
Month: June 2023
6 years of GST: Rs 1.5 trillion monthly tax revenues becomes ‘new normal’, focus on curbing tax evasion
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of…
Active GST taxpayers in Gujarat grew by 124% in six years
After the rollout of the goods and services tax (GST) six years ago, the number of new taxpayers has jumped.…
Automobile industry seeks 5% GST for 2-wheelers running on flex fuel, official says
The automobile industry has sought 5% GST on two-wheelers running on flex fuel, at par with those powered by electric…
Advisory: Online Compliance Pertaining to Liability / Difference Appearing in R1 – R3B (DRC-01B)
The functionality compares the liability declared in GSTR-1/IFF with the liability paid in GSTR-3B/3BQ for each return period. If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds the configurable threshold, taxpayer will receive an intimation in the form of DRC-01B.
Refund on account of export cannot be withheld merely on the ground that Revenue intends to file appeal
The Hon’ble Delhi High Court in Alex Tour and Travel Pvt. Ltd. v. Assistant Commissioner, CGST directed the Revenue department to disburse the assessee’s refund claim along with interest as payable and held that, the Revenue cannot withheld assessee’s refund merely on account that it intends to file appeal before the GST tribunal that to when the Tribunal is not constituted.
No liability to pay interest in a revenue-neutral situation
The CESTAT, Kolkata in M/s Jai Balaji Industries Limited v. Commissioner of Central Excise, Bolpur set aside the order confirming interest on differential duty and held that where the differential duty paid by the assessee is available as CENVAT credit to the Assessee’s sister concern then it is a revenue-neutral situation. Thus, as duty was not actually payable, the payment of interest does not arise in the case of revenue neutral situation.
Guidelines for determining discrepancies arising on tax calculation on pre-GST contracts
The Hon’ble Karnataka High Court in Sri Chandrashekaraiah v. State of Karnataka [WP no. 9721 of 2019(T-RES) dated April 11,…
Gujarat HC issues notice to Centre after Flair Writing challenges DGGI
The Gujarat High Court has asked the central government and DGGI to come forward and answer whether DGGI has the power to issue such notices outside its territorial jurisdiction.
State seeks Rs 5K cr GST dues, Centre says it owes Rs 3,000 cr
The Aam Aadmi Party government is struggling to settle the pending GST compensation claims of Rs 5,000 crore, due from…