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Article: Unraveling the Intricacies of Assessments under GST Regime
Unraveling the Intricacies of Assessments under GST Regime The article "Unraveling the Intricacies of Assessments under GST Regime" provides a comprehensive overview of the various types of assessment...
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Meerut CGST Commissionerate Busts Rs. 1,000 Cr ITC Fraud
Introduction: In a significant development, the Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, has successfully uncovered a large syndicate involved in a major I...
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Appealing an Order before the GST Appellate Authority : Law and the Procedure
1. IntroductionThe Goods and Services Tax (GST) law, which refers to Central Goods and Services Tax Act, 2017 ('CGST Act'), Integrated Goods and Services Tax Act, 2017 ('IGST Act'), State Goods and Se...
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GSTN Announcement: E-Waybill Integration with New IRP Portals
Introduction: In a significant development, the Goods and Services Tax Network (GSTN) has successfully integrated E-Waybill services with four new Invoice Registration Portal (IRP) portals via the Nat...
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Finance Head of a firm arrested for GST evasion to the tune of Rs 88 crore
Introduction: The Ministry of Finance recently made headlines with the arrest of the Finance Head of a prominent firm for alleged GST evasion amounting to a staggering Rs 88 crore. This incident, whic...
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Reply to Show Cause Notice: No ITC Reversal Required on Input Loss During Manufacturing Process
Brief Facts: M/s. Steelco Pvt Ltd (Name Changed) ('the Assessee') is engaged in the manufacture of steel products.During the manufacturing process, a small portion of inputs is inevitably lost, which...
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Response to Show Cause Notice: CSR Expenses Eligible for ITC under GST Laws
Brief Facts: XYZ Pvt Ltd ('the Assessee') is a manufacturer of cosmetic products.The Assessee claimed input tax credit (ITC) on Corporate Social Responsibility (CSR) expenses incurred as per the manda...
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Taxability and Valuation of Personal Guarantees under GST
Query: Subject: Query regarding chargeability of personal guarantee under GSTDear Editor,I am a tax professional working. Recently, we have been facing queries from our clients regarding the taxabilit...
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Reply to Show Cause Notice: Goods Detained on Misclassification Grounds Despite Bona Fide Dispute
Date: <DD/MM/YYYY> To, The Jurisdictional GST officer <PLACE>Dear Sir/Madam,Re.: Mr./ Ms./ Mrs./ M/s. <NAME OF INDIVIDUAL/FIRM/COMPANY> -GSTIN: <……….>Sub.: Reply to the Show Cause Notice No….. dated…....
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Submission in Response to Show Cause Notice: Rejection of Input Tax Credit based on Invoice Issued after Time of Supply
Factual Background: ABC Ltd operates in the mobile phone trading sector and received accounting and taxation support from XYZ LLP in August 2022. However, an oversight led to the delayed issuance of t...
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Ministry of Finance: ₹1.68 Trillion GST Collection Surpasses Expectations
The Ministry of Finance recently announced impressive figures regarding the Goods and Services Tax (GST) revenue collection for February 2024. With a substantial increase in collections compared to th...
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Allahabad High Court Protects Flipkart in Reassessment Dispute, Places Burden of Proof on Tax Authorities
HighlightsThe Allahabad High Court quashed a reassessment order against Flipkart, ruling assessment authorities must prove turnover was underreported.The burden of providing evidence for "reason to...
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Allahabad High Court Overturns GST Ruling: Superintendent Exceeded Authority
HighlightsThe Allahabad High Court quashed a GST order due to the Superintendent lacking jurisdiction based on the amount involved.The circular dated February 9, 2018, by the Indian Ministry of Financ...
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5 Including Ex-ITO sentenced to 3 Yrs Jail; CBI Arrests CGST Superintendent for Bribe
CBI Arrests CGST Superintendent, Sentences Five for Bribery In recent developments, the Central Bureau of Investigation (CBI) has made significant strides in combating corruption. A CGST Superintenden...
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GST Council Newsletter for the month of January 2024
The Finance Bill 2024 proposes substitution of Section 20 of the IGST Act to make registration as an Input Service Distributor (ISD) mandatory for the procurement of common input services and the dist...
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Beware of Fake GST Summons: How to Verify – Ministry of Finance Advisory
In an important announcement made by the Ministry of Finance on 10th February 2024, taxpayers have been cautioned against an alarming trend of receiving fake and fraudulent summons for GST violations....
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GST Input Tax Credit: Issues, Settlements and Government Measures
The availability of GST input tax credit (ITC) has been a subject of concern for traders in India. Questions have arisen regarding limitations, settlements, and government measures to address related...
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Elimination of Inequality in Income & Living of Citizens by GST Implementation
The Goods and Services Tax (GST) implementation in India aimed to simplify the indirect tax system, create a unified market, and eliminate cascading tax effects. However, questions arise regarding its...
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Aadhaar-Based Authentication For GST Registration
The Lok Sabha recently raised queries regarding the implementation of Aadhaar-based authentication for GST registration in Andhra Pradesh. In response, the Ministry of Finance provided insights into t...
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Government Uncovers 4,153 Bogus Firms in GST Evasion Scandal
The Ministry of Finance’s recent disclosure regarding the involvement of bogus firms in the evasion of input tax credit (ITC) under the Goods and Services Tax (GST) system has raised significant conce...