Guidelines for disallowing debit of electronic credit ledger under Rule 86A of the CGST Rules, 2017 -Reg.

11 ViewsReference: CBEC-20/16/05/2021-GST/1552 dated 02.11.2021 Rule 86A of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as “the Rules”) provides that in certain circumstances, Commissioner or an officer authorised by him, on the basis of reasonable belief that credit of input tax available in the electronic credit ledger has been fraudulently availed […]

Can the buyer be denied the ITC on account of the fraud or malpractices committed by the supplier?

6 ViewsBy, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL 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 mitigate – if not completely eliminate – this adverse impact of the tax cascade, […]

Challenge Validity of Section 16(4) of CGST Act, When Time Extend to Claim ITC on Inward Supply Is in Force

4 ViewsBy, Mr. S. Kannan B. Com., LL.B When the GST Commissioner, extend time limit, to furnish details of inward supply, meanwhile, he himself could restrict time limit under section 16(4), is legally valid? (a) Vested Rights granted to every registered person under the CGST Act , entitled to take the credit of “ELIGIBLE” input […]

Gist of Circulars issued by CBIC on 20.09.2021

13 ViewsThe Central Board of Indirect Taxes and Customs (CBIC) on 20.09.2021 issued the following clarifications: Circular No. Title / Query / Representations Clarifications 159/15/2021-GST Clarification on doubts related to scope of “Intermediary” Definition of “intermediary” under IGST Act as well as under Service Tax law have broadly no change except addition of supply of […]

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