Stay updated
The 57th meeting of the Goods and Services Tax (GST) Council is scheduled to be held in New Delhi on September 12, while an officers’ meeting is scheduled for September 11, according to the official notice issued by the GST Council Secretariat.
The Supreme Court on Wednesday dismissed the Centre’s review petitions challenging its earlier decision to uphold a Delhi High Court ruling that allowed Bharti Airtel and other telecom companies to claim ITC on mobile telecom towers under GST regime.
The Hon’ble Supreme Court in Additional Commissioner Grade 2 & Anr. dismissed the SLP affirming that proceedings under Section 74 of UP GST Act, 2017 cannot be initiated to deny ITC to a bona fide purchaser who has duly established the genuineness of the transaction through tax invoices, e-way bills, transport documents, payment through banking channels and filing of returns
The Hon’ble Madras High Court in the case of Clear Secured Service Private Limited held that the Revenue Department cannot confirm a tax proposal denying ITC solely on the ground that the supplier was subsequently declared non-existent
The Punjab state taxation department has arrested the alleged mastermind of a Rs 55-crore fake billing racket that enabled fraudulent ITC claims worth Rs 8.35 crore, finance minister Harpal Singh Cheema said on Thursday.
The Hon’ble Madras High Court in the case of Tvl. Sri Balajee Udyog held that cancellation of GST registration under Section 29(2)(a) is valid where the assessee fails to produce evidence of actual movement of goods and claims ITC based on inadequate and unsubstantiated documents, despite being given opportunity of hearing.
The Hon’ble Madras High Court in M/s. Fathima Traders quashed the orders passed by the Adjudicating Authority denying ITC to the Assessee solely on the ground that the supplier’s GST registration had been cancelled
When the Goods and Services Tax (GST) was implemented on July 1, 2017, one of its central promises was to eliminate tax cascading and allow seamless flow of input tax credit (ITC) across the value chain.
The Hon’ble Gauhati High Court in M/s Metal Syndicate and Another set aside the OIO and the OIA confirming GST demand of Rs. 78,70,952/- along with interest and equivalent penalty, and held that a bona fide purchasing dealer cannot be denied ITC merely on account of the supplier’s failure to deposit the tax collected with the Government.
CA Nihalchand J Jain prepared this PPT on “GST Law vs Reality of Input Tax Credit (ITC)