Is Your ITC Safe?
Author writes that the Input tax credit is Not Fully Safe in GST – Reasons and Solutions (Actions Required by the Government).
Tag: ITC
GST DAILY – 209
Non-Reflection in GSTR 3B but HC Permits GST ITC Claim on Basis of GSTR 9, 2A
IRCTC faces tax demand cum show cause notice for Rs 3.93 crore
IRCTC received a demand cum show cause notice, on 08.04.2024, from the Additional Commissioner of CGST Delhi South Commissionerate for the fiscal year 2018-19
DGGI detects 99% surge in FY24, unearths Rs.2.01 lakh crore worth of tax fraud
In a major push to curb GST evasion, the Directorate General of GST Intelligence (DGGI) claims to have detected 6,074 cases involving evasion of duty amounting to Rs. 2,01,931 crore, top sources told CNBC-TV18. This marks a staggering 99% surge in the year-on-year (YoY) detection of tax evasion compared to the amount of duty evasion detected by the investigation arm of the tax authority.
ITC is permissible when the consideration is settled via Book Adjustment
The West Bengal, AAR in the case of Paragon Polymer Products (P.) Ltd., held that claiming credit of input tax by the assessee cannot be denied under section 16(2) of the CGST Act when payment is settled through book adjustments because the law has not put any restriction on such adjustments.
Fraudsters use handpumps to evade GST
A scam has been unearthed in Uttar Pradesh with fraudsters using hand pumps for claiming fake refunds using Inverted Duty…
ITC should not be disallowed because of entering the wrong GSTIN number of the recipient in Form GSTR-1
ITC was disallowed due to difference in GSTR-3B and GSTR-2A because of entering wrong GSTIN in GSTR-1
Fake invoice scam busted in Bengaluru after tax officials raid scrap dealers
An Input Tax Credit (ITC) scam making use of bogus invoices was busted by the Karnataka Commercial Taxes Department. According…
Case name: Shankar Ekka vs The Assistant Commissioner of State Tax – Calcutta High Court
On a plain reading of section 29 of the Act, it is evident that there is a apparent difference between…
‘New GST rule may affect business’
All Kerala GST practitioners association said on Wednesday that input tax credit (ITC) reversal on account of the Rule 37A will dampen…