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Tag: Scheme

GST Article

ITC available on gold coin distributed to dealers as incentive under the scheme

byCA Bimal Jain05/09/202305/09/2023

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.

GST Article

Credit Note can be issued without charging GST

byGaneshan Kalyani04/07/202018/05/2023

Extract of provision: Sec.34(1) of CGST Act, “Where one or more tax invoices have been issued for supply of any goods or services or both and the taxable value or tax charged in that tax invoice is found to exceed the taxable…

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Latest Post

  • Mere Recital of Suppression Cannot Unlock the Extended Limitation under Section 74 of the CGST Act
  • Insolvency and Bankruptcy Code Cannot Dilute Section 16(2)(c): No ITC Where the Insolvent Supplier Never Paid Tax to the Government
  • Composition option lapses automatically on crossing the threshold but differential tax must be computed on cum-tax basis under Rule 35
  • DGFT Trade Notice 30/2026-27 dt 13.10.2026
  • DGFT Notif. 44/2026-27 dt 12.10.2026

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