Madras High Court Removes Penalty for Delayed ITC Reversal on Obsolete Stock
The Madras High Court has passed a helpful ruling for businesses dealing with old or slow-moving stock. In the case GE T&D India Ltd. v. Deputy Commissioner of GST …
Tag: Input Tax Credit (ITC)
GST Liability/ITC on Warranty Period Replacement/ Repair Services: CBIC Clarifications
CBIC clarifications on GST liability and the requirement for ITC reversal in respect of warranty replacements and repair services supplied without consideration during the warranty period.
CGST Delhi East Busts 48 Fake Firms in Rs 199 Crore GST Fraud
In a major GST fraud bust named Operation Clean Sweep, CGST Delhi East officials uncovered a network of 48 fake firms involved in circular trading of Rs 199 crores …
ITC Mismatch (GSTR-2B/3B): GSTN Advisory on Online Compliance
GSTN advisory explains compliance process about new functionality for taxpayers to explain ITC differences between GSTR-2B & GSTR-3B online using Form DRC-01C.
GSTN Advisory on ITC Reversal under CGST Rule 37A (FY 2022-23)
A summary of the key points in the recent GSTN advisory regarding the requirement for taxpayers to reverse input tax credit under CGST Rule 37A by 30th November, 2023.
Refund of Unutilized ITC under GST: Process, Timelines and Key Aspects
A comprehensive guide on provisions and procedures for claiming refund of unutilized input tax credit (ITC) under GST due to zero rated supplies and inverted duty structure.
Electronic Credit Reversal and Reclaimed Statement: GSTN Advisory on New Feature
Explore the GSTN Advisory on New Feature at GST Portal "Electronic Credit Reversal and Reclaimed Statement" along with opening balance reporting and amendment guidelines.
CBIC’s Clarification on GST Refunds Related 4 Issues: GST Circular 197/09/2023
Discover the latest clarifications on GST refunds in CBIC Circular 197/09/2023. Gain insights on key issues and ensure compliance for smooth refund processes.
Handling ITC Differences in GSTR-3B & 2A: CBIC Clarification
Learn how to manage Input Tax Credit (ITC) differences between FORM GSTR-3B and 2A during 01/04/2019 to 31/12/2021, as per CBIC clarification Circular 193/05/2023.
Interest on Wrong Availment of IGST Credit: CBIC Clarification
CBIC clears the confusion around interest charges for wrong IGST credit under GST. Stay compliant and understand the rules to avoid penalties. Read now.