Time Period of February, 2020 to August, 2020 to be considered cumulatively for availing GST Credit under Rule 36(4) of the CGST Rules
The Hon’ble Allahabad High Court in the case of M/s. Vivo Mobile India Private v. Union of India and Others…
Tag: ITC
Penalty should not be imposed on ITC wrongly availed when Transitional Credit used for discharging tax liability
The Hon’ble Madras High Court allowed the writ petition and held that the penalty could not be imposed on wrongly availed ITC as there is no change in tax liability of the Assessee when Transitional Credit has been debited for discharging tax liability and wrongly availed Input Tax Credit has been reversed.
Amendment to Rule 89(4)(C) of CGST Rules, restricting refund by capping ‘export turnover,’ not applicable retrospectively
The Hon’ble Delhi High Court in the case of M/s. Indian Herbal Store Pvt. Ltd. vs. Union of India allowed the writ petition and held that the Rule 89(4)(C) of the GST Rules, would not have any retrospective application.
ITC cannot be denied to the recipient solely on the ground that transaction not reflected in GSTR-2A
If the taxpayer is able to prove that tax amount is paid to the seller and the Input Tax Credit claim is bonafide so the Input Tax Credit cannot be denied merely on non-reflection of transaction in GSTR-2A.
No ITC available for canteen expenses incurred for contract workers
Input Tax Credit of GST on canteen facility provided to contract worker is not eligible because contract worker are not employees of the assessee
ITC available on gold coin distributed to dealers as incentive under the scheme
The AAR, Karnataka, in M/s. Orient Cement Limited ruled that, ITC on gold coins is not restricted under section 17(5)(h) of the CGST Act, since the gold coin is not given as gifts but as the achievement of marketing targets set by the assessee.
Clarification regarding interest on wrong availment and utilization of ITC in IGST head (Circular 192/04/2023-GST)
1. Provisions of the law: As per section 50(3) of the CGST Act, 2017, where the amount of ITC is…
ITC not allowed to buyer if supplier did not pay GST to the Government
The Hon’ble Patna High Court in M/s. Aastha Enterprises v. State of Bihar held that ITC is in the nature of a benefit/concession and not a right extended to the assessee under the statutory scheme.
Fake ITC documents
The Noida Police has issued non-bailable warrant issued against 10 people for defrauding the government of Rs.15,000 crore by using…
DGGI communication to Bank to freeze bank account of assessee not a valid provisional attachment order
The Hon’ble Delhi High Court in M/s. Redamancy World v. Senior Intelligence Officer held communication letter sent by the DGGI to the assessee’s bank and customers, directing them not to make payments for the goods supplied by the petitioner, was not legally authorized, being not issued in requisite Form DRC-22.