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The AAR, Tamil Nadu in the case of In Re. M/s. A Senthil Maharaj ruled that, the ITC is not admissible in case of the Rotary Car Parking System as the said system is permanently fastened and is installed for the purpose of permanent enjoyment.
Mining giant Vedanta Ltd has received GST demand notices to the tune of Rs 1.86 crore for availing input tax credit, which has been termed “ineligible” by the tax authority.
Leading cement maker UltraTech Cement has received two demand orders, interest and penalties totalling Rs 72.06 lakh from the GST authorities. The company said it will challenge the orders before the appellate authorities. It has received an order from Assistant…
The AAAR, Gujarat in the case of M/s. The Varachha Co-Op. Bank Ltd. [Ruling No. 37/2021 dated October 04, 2023] observed that items like the Central Air Conditioning Plant, Lift, Electrical Fittings, and Fire Safety Extinguishers were categorized as immovable…
State GST department – Government of Kerala has published ‘Standard Operating Procedures’ for monitoring ineligible input tax credit in Return From GSTR-3B. Contents 1. Introduction 2.Statutory provisions 3. Scenarios with examples 4. Reversal monitoring process 4.1 Selection of cases for…
Net ITC is to be reported in Table 4(A) and ITC reversal, if any, is to be reported in Table 4(B) of GSTR-3B.
02/09/2022 Thanking you Team GSTN Source: GSTN
By, Mr. Ashish Miglani INTRODUCTION The GST Law was introduced on 1st July 2017 as per 101 constitution amendment act and it was promised that there would be seamless flow of inpu tax credit and object was NO cascading of taxes…
Table 7 of GSTR-9 requires the information of reversal of eligible Input Tax Credit (ITC) and details of ineligible ITC for the financial year 2020-21. In the table, following rules/sections are specified for reversal: Reversal – As per Rule 37…
By, M.S.VIJAYAKUMAR, ASSISTANT COMMISSIONER GST (RETD.) One of the main objective of GST was to eradicate cascading effect of taxes which existed under Central Excise, VAT and Service Tax. Under GST Input tax Credit (ITC) can be claimed irrespective of place of…