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 …
The Goods and Services Tax (GST) framework in India has been constantly evolving to address various compliance and administrative challenges. GST Show Cause Notices (SCNs) issued under Sections 73 and 74 of the GST Act have long been a cornerstone of tax recovery. These sections have provided clarity on addressing cases of tax non-compliance. However, …
