The Goods and Services Tax (GST) registration is a crucial step for businesses operating in India, as it establishes their legal recognition and enables them to comply with the tax regime. However, obtaining GST registration in the current scenario poses numerous challenges due to evolving regulatory frameworks, technical glitches, and bureaucratic hurdles. This article discusses …
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The Goods and Services Tax (GST) framework has always emphasized compliance, transparency, and accountability. Recently, a surge in the issuance of Form GST ASMT-10 notices has been observed, particularly to investigate discrepancies in input tax credit (ITC) between various GST returns for the financial year 2020-21. Taxpayers are being scrutinized for differences between GSTR-2A and …
Date: November 16, 2024 The GST Network (GSTN) has issued an advisory to address concerns raised by some taxpayers regarding the non-generation of GSTR-2B for the October 2024 period. Below are the key points taxpayers need to be aware of: Scenarios Where GSTR-2B Is Not Generated Resources for Further Guidance Taxpayers are encouraged to refer …
In commemorating one year of successful operation since going live, the Goods and Services Tax Network (GSTN) proudly introduces a revamped version of the E-Invoice Master Information Portal at einvoice.gst.gov.in. This milestone marks a significant stride in enhancing taxpayer services and streamlining compliance procedures. Let’s get into the exciting new features of this enhanced portal: …
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Introduction: Goods and Services Tax (GST) in India has brought about a paradigm shift in the taxation landscape, necessitating businesses to navigate a complex web of regulations. As businesses grapple with GST-related challenges, including disputes and appeals, the expertise of Chartered Accountants (CAs) becomes invaluable. In this detailed exploration, we unravel the multifaceted ways in …
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Introduction: Navigating the intricate landscape of Goods and Services Tax (GST) in India requires meticulous attention to detail and a profound understanding of the regulatory framework. As businesses strive to comply with GST regulations, enlisting the expertise of a Chartered Accountant (CA) during the GST registration process proves to be a strategic move. In this …
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In a significant pronouncement on November 6, 2023, the Hon’ble Supreme Court addressed a crucial GST compliance matter in the case of Deputy Assistant Commissioner-1 (ST) v. Arhaan Ferrous and Non Ferrous Solutions (P.) Ltd. The apex court declined to intervene in a case where the Andhra Pradesh High Court had ruled on the responsibilities …
In a recent landmark judgment dated December 18, 2023, the Hon’ble Madras High Court addressed the predicament faced by M/s. Samadhu Medicals in the case against the Deputy Tax Officer [Writ Petition NO. 35228 OF 2023]. The focal point of the case was the dispute arising from GSTR-3B and GSTR-2A mismatch, exacerbated by the demise …
In a recent judgment on December 15, 2023, the Hon’ble Andhra Pradesh High Court delved into the intricacies of natural justice in the case of TSN Old Iron Scrap Merchants versus the Deputy/Assistant Commissioner of State Tax [Writ Petition No. 32206 of 2023]. The case revolved around the issuance of a Show Cause Notice (“SCN”) …
The recent Notification No.: 26/2022 – Central Tax, dated December 26, 2022, has introduced significant changes to FORM GSTR-1 and IFF with the addition of two new tables: Table 14 and Table 15. In this blog post, we will delve into the purpose, details, and step-by-step reporting process for these new tables. Purpose of the …
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