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Article on ‘Analysis of Interest under GST’ by CA Abhishek Malpani, Sr.Advisor, Bizsolindia Services Pvt. Ltd.(June 2024)

Introduction: The Government of India has specified the due dates to pay Goods and Services Tax. The due date to pay GST is different for different types of taxpayers. If one fails to pay GST within the due date, one must pay the interest along with the GST dues for the delay period. Relevant Legal …

Article on ‘Analysis of Interest under GST’ by CA Abhishek Malpani, Sr.Advisor, Bizsolindia Services Pvt. Ltd.(June 2024) Read More »

Judicial Corner : No writ can be filed against order passed by GST authorities if principles of natural justice were adhered to (18.06.2024)

No writ can be filed against order passed by GST authorities if principles of natural justice were adhered to:  An assessment order reversed the input tax credit against the assessee/petitioner. The court dismissed the writ petition, stating that natural justice principles were followed by providing the petitioner opportunities to contest the tax demand and participate …

Judicial Corner : No writ can be filed against order passed by GST authorities if principles of natural justice were adhered to (18.06.2024) Read More »

Judicial Corner : Assessee should approach the Commissioner under Section 80 of the CGST Act to seek relief for payment of interest in instalments (17.06.2024)

GST: Assessee should approach the Commissioner under Section 80 of the CGST Act to seek relief for payment of interest in instalments: Hight Court directed the assessee to approach the Commissioner under Section 80 of the CGST Act for seeking relief for payment of interest in monthly instalments pertaining to disputed tax already paid on …

Judicial Corner : Assessee should approach the Commissioner under Section 80 of the CGST Act to seek relief for payment of interest in instalments (17.06.2024) Read More »

Judicial Corner: Interest and penalty not leviable when there is no fault of Assessee in depositing GST (15.06.2024)

GST Interest and penalty not leviable when there is no fault of Assessee in depositing GST  The Petitioner has initiated the payment of tax within the prescribed time period in the manner prescribed for which the amount is debited from the bank account. However, the Revenue Department (“the Respondent”) states that the amount has been …

Judicial Corner: Interest and penalty not leviable when there is no fault of Assessee in depositing GST (15.06.2024) Read More »

Judicial Corner: Assessee cannot be adjudicated by the CGST, assigned to SGST authority or vice-versa (14.06.2024)

GST Assessee cannot be adjudicated by the CGST, assigned to SGST authority or vice-versa  The issue regarding cross-empowerment and the jurisdiction of the counterparts to initiate proceedings. When an assessee has been allocated either to Central Tax Authorities or to the state tax authorities was examined. In detail by this Court in Tvl. Vardhan Infrastructure’s …

Judicial Corner: Assessee cannot be adjudicated by the CGST, assigned to SGST authority or vice-versa (14.06.2024) Read More »

DGFT: Corrigendum issued to Notification NO. 16/2024-25 dated 06.06.2024 on enabling provision for import of inputs that are subjected to mandatory quality control Orders by Advance Authorisation Holder, EOU & SEZ, for correcting para reference number of FTP(13.06.2024)

DGFT: Corrigendum issued to Notification NO. 16/2024-25 dated 06.06.2024 on enabling provision for import of inputs that are subjected to mandatory quality control Orders by Advance Authorisation Holder, EOU & SEZ, for correcting para reference number of FTP. [Corrigendum dated 12 June 2024]

DGFT: The Import Policy for ITC (HS) Codes (related to gold) 71131912, 71131913, 71131914, 71131915 and 71131960 have been amended from Free to Restricted with immediate effect.(13.06.2024)

DGFT: The Import Policy for ITC (HS) Codes (related to gold) 71131912, 71131913, 71131914, 71131915 and 71131960 have been amended from Free to Restricted with immediate effect. However, import under said ITC (HS) Code except 71131960 (parts) is permitted without authorization under valid INDIA-UAE CEPA TRQ. [Notification No.17/2024-25 dated 11 June 2024]

Judicial Corner: Revenue Department cannot block Electronic Credit Ledger by making negative balance (13.06.2024)

GST:   Revenue Department cannot block Electronic Credit Ledger by making negative balance   Plain perusal of the impugned order under challenge shows that the Revenue department have made a negative credit in the electronic credit ledger of the Petitioner which otherwise is not permissible and what is permissible is only blocking the availing of …

Judicial Corner: Revenue Department cannot block Electronic Credit Ledger by making negative balance (13.06.2024) Read More »

Judicial Corner: Quashes appellate order creating tax demand inspite of ‘non-satisfaction’ of s. 74 ingredients (12.06.2024)

GST:   HC: Quashes appellate order creating tax demand inspite of ‘non-satisfaction’ of s. 74 ingredients   Madras High Court sets aside an appellate order where the tax proposal under section 74 was confirmed without satisfying its requirements.   The original tax order against the assessee was dismissed in appeal due to submission beyond the …

Judicial Corner: Quashes appellate order creating tax demand inspite of ‘non-satisfaction’ of s. 74 ingredients (12.06.2024) Read More »

Judicial Corner: No GST on sale of warehoused goods in 3P FTWZ on “as is where is” basis for supply to bonded warehouse under MOOWR Scheme: AAR (11.06.2024)

GST:   No GST on sale of warehoused goods in 3P FTWZ on “as is where is” basis for supply to bonded warehouse under MOOWR Scheme: AAR   The advance ruling pertains to the classification of a specific transaction involving warehoused goods. The applicant imports and stores goods in a third-party Free Trade Warehousing Zone …

Judicial Corner: No GST on sale of warehoused goods in 3P FTWZ on “as is where is” basis for supply to bonded warehouse under MOOWR Scheme: AAR (11.06.2024) Read More »

Judicial Corner: The Hon’ble Calcutta High Court in the case of M/s. Cosyn Limited v. Assistant Commissioner of State Tax [M.A.T. NO. 2411 OF 2023 dated April 30, 2024] held that where the Assessee had availed IGST credit and subsequently utilized the said IGST credit for tax payment of SGST, the amount collected as IGST Tax shall stand reduced by an amount equal to the credit so utilized and shall be apportioned to the appropriate State Government and the Central Government shall transfer the amount so apportioned to the account of the appropriate State Government in terms of Section 18 of the Central Goods and Services Tax Act, 2017 (10.06.2024)

GST   The Hon’ble Calcutta High Court in the case of M/s. Cosyn Limited v. Assistant Commissioner of State Tax [M.A.T. NO. 2411 OF 2023 dated April 30, 2024] held that where the Assessee had availed IGST credit and subsequently utilized the said IGST credit for tax payment of SGST, the amount collected as IGST Tax shall …

Judicial Corner: The Hon’ble Calcutta High Court in the case of M/s. Cosyn Limited v. Assistant Commissioner of State Tax [M.A.T. NO. 2411 OF 2023 dated April 30, 2024] held that where the Assessee had availed IGST credit and subsequently utilized the said IGST credit for tax payment of SGST, the amount collected as IGST Tax shall stand reduced by an amount equal to the credit so utilized and shall be apportioned to the appropriate State Government and the Central Government shall transfer the amount so apportioned to the account of the appropriate State Government in terms of Section 18 of the Central Goods and Services Tax Act, 2017 (10.06.2024) Read More »

Judicial Corner : The time limit for furnishing the return for the month of September is to be treated as 30th November in each financial year with effect from 01.07.2017, and the ITC claims should be processed if otherwise eligible. The petitioner challenged the provisions under Section 16(2)(c) and Section 16(4) of the CGST Act. The Court ruled in favor of the petitioner, providing relief concerning the input tax credit (ITC) eligibility criteria (07.06.2024)

GST: The time limit for furnishing the return for the month of September is to be treated as 30th November in each financial year with effect from 01.07.2017, and the ITC claims should be processed if otherwise eligible. The petitioner challenged the provisions under Section 16(2)(c) and Section 16(4) of the CGST Act. The Court …

Judicial Corner : The time limit for furnishing the return for the month of September is to be treated as 30th November in each financial year with effect from 01.07.2017, and the ITC claims should be processed if otherwise eligible. The petitioner challenged the provisions under Section 16(2)(c) and Section 16(4) of the CGST Act. The Court ruled in favor of the petitioner, providing relief concerning the input tax credit (ITC) eligibility criteria (07.06.2024) Read More »

Article on ‘Essential Guidelines for Accurate Filing of GSTR-9 and GSTR-9C’ by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd (June 2024)

6 out of 10 GST taxpayers have completed their “GST Departmental Audit”. Followed by various observations like GSTR-2A reconciliation issues, Input tax credit availed from non-genuine taxpayer or registration canceled vendor, ITC reversals on account of Credit notes appearing in GSTR-2A, mismatch in Outward supplies vis a vis E-way bill issued, Wrong classification of goods, …

Article on ‘Essential Guidelines for Accurate Filing of GSTR-9 and GSTR-9C’ by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd (June 2024) Read More »

Article on ‘Debit Notes and Eligibility of Input Tax Credit of it in GST’ by CA Anuj Gandhi, Bizsolindia Services Pvt Ltd. (June 2024)

Introduction A debit note is a commercial document commonly used in business-to-business (B2B) transactions, which can be utilized by either buyers or sellers to address the amount owed for the sale of goods or services. Essentially, it serves as an additional note associated with an invoice, typically indicating the necessity to adjust the invoiced amount. …

Article on ‘Debit Notes and Eligibility of Input Tax Credit of it in GST’ by CA Anuj Gandhi, Bizsolindia Services Pvt Ltd. (June 2024) Read More »

Article on ‘India and its GIG Economy – The Emerging Duality of India’s Workforce – Empowerment or Exploitation?’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. ( June 2024)

Introduction: Arguably, one of the most difficult relationships in the corporate sector in India is in the sphere of work ethics involving workmen who are constantly called upon to deliver up to the required standard of efficiency and the management who is tasked with the duty of ever greater performance all the time. In the …

Article on ‘India and its GIG Economy – The Emerging Duality of India’s Workforce – Empowerment or Exploitation?’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. ( June 2024) Read More »

Judicial Corner : The Bombay High Court has quashed the show cause notice (SCN) demanding GST on ocean freight on transportation of goods from outside India. The bench of Justice G. S. Kulkarni and Justice Firdosh P.Pooniwalla has relied on the decision of the Supreme Court in the case of Mohit Minerals and observed that the verdict applies to both free on board (FOB) and sum of cost, insurance, and freight (06.06.2024)

GST The Bombay High Court has quashed the show cause notice (SCN) demanding GST on ocean freight on transportation of goods from outside India. The bench of Justice G. S. Kulkarni and Justice Firdosh P.Pooniwalla has relied on the decision of the Supreme Court in the case of Mohit Minerals and observed that the verdict …

Judicial Corner : The Bombay High Court has quashed the show cause notice (SCN) demanding GST on ocean freight on transportation of goods from outside India. The bench of Justice G. S. Kulkarni and Justice Firdosh P.Pooniwalla has relied on the decision of the Supreme Court in the case of Mohit Minerals and observed that the verdict applies to both free on board (FOB) and sum of cost, insurance, and freight (06.06.2024) Read More »

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