Nowadays, the GST department issues various notices and orders to GST registration holders for past years, often leading to demand notices. However, GST registration holders should be aware that each notice and order has a prescribed time limit under the relevant act, which the GST department must adhere to. Additionally, if a retrospective notification or …
Introduction The new section 16(5) of the CGST Act allows taxpayers to claim Input Tax Credit (ITC) for a certain period. This is a helpful step by the government to support GST-registered businesses in claiming their unused ITC for the financial years 2017-18 to 2020-21. They can do so until November 30, 2021. This section …
Introduction Getting GST refunds has been challenging for industries when dealing with the GST department, especially for exports. Exporters need to prove their transactions by justifying the export of services, payments in foreign currency, matching invoices with payments received, submitting BIRCs, and other supporting documents. Refunds are only granted if the GST officer is satisfied …
Introduction On September 20, 2021, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 161/17/2021-GST to clarify the interpretation of condition (v) of Section 2(6) of the IGST Act, 2017. This condition determines whether services provided by an Indian subsidiary to its foreign parent company qualify as an export of services or …
The Delhi High Court recently quashed the cancellation of GST registration for Rashid, Proprietor of MS Enterprises, highlighting serious procedural lapses in the issuance of Show Cause Notices (SCNs) and the denial of a personal hearing. Background of the Case The petitioner, Rashid, filed a writ petition under Article 226 of the Indian Constitution, challenging …
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Introduction The GST registration process has been updated to enhance security and streamline authentication for applicants. As per Rule 8 of the CGST Rules, 2017, applicants must follow specific steps based on whether they opt for Aadhaar authentication or not. This blog provides a detailed overview of the updated GST registration process to help taxpayers …
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The Goods and Services Tax (GST) framework in India mandates the generation of an E-Way Bill (EWB) for the movement of goods above a specified value. However, Rule 138(14) of the Central Goods and Services Tax (CGST) Rules, 2017, along with its Annexure S.Nos. 4 and 5, provides certain exemptions. Specifically, goods falling under Chapter …
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We wish to inform you of recent developments regarding the GST registration process that may impact your application. The following points outline key updates pertaining to biometric-based Aadhaar authentication and document verification for GST registration applicants in Tamil Nadu and Himachal Pradesh: Key Updates: We advise all applicants to adhere to these updated procedures to …
The Goods and Services Tax (GST) framework has introduced several enhancements to the reporting of Harmonized System of Nomenclature (HSN) codes in Table 12 of GSTR-1/1A. These changes aim to streamline compliance and improve the accuracy of tax reporting, with phased implementation starting from November 2022. Below is a detailed overview of the advisory on …
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The E-Way Bill is an important compliance mechanism under GST (Goods and Services Tax) in India, designed to ensure smooth movement of goods while preventing tax evasion. It is applicable to the transportation of goods exceeding ₹50,000 in value. The generation of an E-Way Bill is necessary for the movement of goods across states and …
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