Tag: TRAN-1 ITC
CEAT gets GST demand, penalties of over Rs 19 crore
Tyre maker CEAT Ltd on Wednesday said it has received GST demand and penalties totalling over Rs 19 crore from tax authorities in Maharashtra and Vadodara. The Additional Commissioner, CGST & Central Excise, Vadodara has issued an order for an…
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.
Credit cannot be denied even if assessee made mistake filed in TRAN-1 twice
The Hon’ble Madras High Court quashed the order passed by the Adjudicating Authority and held that the credit that was validly availed cannot be denied, even if there were mistakes in the TRAN-1 returns filed twice.
Electronic credit ledger cannot be blocked without providing an opportunity of personal hearing
The Hon’ble Jharkhand High Court in M/s Vinayak Metal and Chemicals& Ors. v. the State of Jharkhand & Ors. [W.P.(T) No. 3022 of 2020 dated November 14, 2022] quashed and set aside the orders blocking Electronic Credit Ledger (“ECL”) of…
Advisory on taxpayers facing issue in filing GSTR-3B
16/01/2023 According to Hon’ble Supreme Court’s directive filing of TRAN forms was made available for aggrieved taxpayers during 01.10.2022 to 30.11.2022. It has been observed that, in the process of filing TRAN forms, few taxpayers have submitted their forms on the portal but…
Circular No. 182/14/2022-GST
Guidelines for verifying the Transitional Credit in light of the order of the Hon’ble Supreme Court in the Union of India vs. Filco Trade Centre Pvt. Ltd., SLP(C) No. 32709-32710/2018, order dated 22.07.2022 & 02.09.2022 Circular No. 182/14/2022-GST F. No.…
No Tran-1 & 2 Form shall be accepted after 30th November 2022
Don’t wait for the last-minute rush to file your TRAN-1/2 Forms. Please File today. The last date to file TRAN forms is 30th November 2022. No Form shall be accepted after 30th November 2022. Source: Twitter
Advisory on Filing TRAN-1/2 Forms to claim Transitional Credit
01/10/2022 The Hon’ble Supreme Court of India has provided a one-time opportunity to all the aggrieved taxpayers to file Form TRAN-1/TRAN-2 and claim their transitional input tax credit in GST system. In compliance of the Hon’ble court’s directive, the facility…
Supreme Court allows 4 weeks extension to open common portal for Tran 1 & Tran 2
03/09/2022 Hon’ble Supreme Court while hearing an application from GSTN, has allowed extension of 4 weeks time to comply with their order dated 22/07/2022 issued in the matter of UOI & Anr. V/s Filco Trade Centre Pvt. Ltd. & Anr.…