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The Hon’ble Delhi High Court in Treco Wire India Private Limited set aside the Order-in-Original confirming a demand of ITC of Rs. 3,34,21,261/- along with interest and an equal penalty under Section 74 of the CGST Act, raised on the ground that the registrations of the suppliers had been cancelled retrospectively,
Once the ITC reconciliation ( books vs 2B) is completed, the correction process needs to be initiated. The correction needs to be done by the vendor for missing and mismatched invoices in his GSTR 1. He can do it on or before 11th November.
One vendor was charging GST. GSTIN was also mentioned in the invoice so the buyer made payment of invoice value (including GST) to the vendor. In GSTR 2B the invoice was not appearing. The return filing periodicity matters. It may…
Time is short for 11th November. Also the Diwali festival is there from 8th onwards. All taxpayers will attempt to complete their filing by 6th or 7th. So, perform the activities of communicating with the vendor today.
The GSTAT, Bengaluru Bench in Maltown Electricals Private Limited held that where the supplier waives the unpaid balance of consideration through a financial/commercial credit note without reducing the tax charged, the recipient is entitled to retain the full ITC and is not required to reverse the credit under the second proviso to Section 16(2) of the CGST Act.C2928`
Strategy is a clear plan of action designed to use limited resources, handle uncertainty, and achieve a specific long-term goal. The above meaning of strategy is taken from Google. The government is practising this concept of ‘strategy’ wisely. The GST…
The GSTAT, Thiruvananthapuram Bench, in Vijayan Sahadevan (Deceased) set aside the Order-in-Appeal confirming the demand of tax, interest and penalty raised on account of disallowance of ITC under Section 16(4) of CGST Act against a deceased proprietor,
ITC on ETP and ITC on Incineration service
ITC on testing of material , research and development , stationery , etc.
ITC on lift, Air conditioners, shed, electrical wiring and fitting, factory maintenance, fumigation, insurance, structural support.