ITC Rules & Sale of Capital Goods / Fixed Assets under GST.

ITC Rules &  Sale of Capital Goods / Fixed Assets under GST.

Businesses use many capital goods for their operations. It is to be noted that tax paid on these capital goods can be availed as input tax credit.

Capital goods

Capital goods are assets such as buildings, machinery, equipment, vehicles and tools

Can a Registered Person whose Place of Supply is different from Recipient’s State Claim IGST ITC

Can a Registered Person whose Place of Supply is different from Recipient’s State Claim IGST ITC

Can a Registered Person claim an Input Tax Credit of IGST whose Place of Supply is different from the Recipient’s State

The availability of Input Tax Credit (ITC) of Integrated Goods and Services Tax (IGST) has

test by sathish

test

GST on Hotel, Restaurant & Outdoor Catering Services.

The Indian hospitality and food service industry thrives on providing exceptional experiences, but navigating the complexities of GST can often turn into a back-of-house headache. From budget hotels to luxury accommodations, standalone restaurants to elaborate outdoor catering services, the applicable GST rates and Input Tax Credit (ITC) eligibility vary significantly.

test by sathish

test

Delhi High Court Directs Re-Adjudication on Rejected Excess ITC Claim

Delhi High Court Directs Re-Adjudication on Rejected Excess ITC Claim

Spinclabs Private Limited Vs Commissioner of Delhi Goods And Services Tax And Ors.

In this case, Spinclabs Private Limited challenges two orders dated 31.12.2023 regarding show cause notices issued against them proposing a demand of Rs.42,74,423.00 and Rs.33,32,254.00. The petitioner argues that

Contractor’s Statement Alone Insufficient To Establish A Transaction As Benami -Allahabad High Court

Contractor’s Statement Alone Insufficient To Establish A Transaction As Benami -Allahabad High Court

Meera Pandey Vs Union of India

In the case of Smt. Meera Pandey Vs Union of India, the Allahabad High Court has made a significant ruling, quashing benami transaction proceedings initiated against the petitioner. The judgment highlights the importance

Delhi HC directs re-adjudication for Two separate SCN for same tax period

Delhi HC directs re-adjudication for Two separate SCN for same tax period

Dinesh Kumar Varma Vs Sales Tax Officer

The petitioner contested an order issued under Section 73 of the Central Goods and Services Tax Act, 2017, objecting that they were unaware of a prior show cause notice, and that another notice

GST Section 75(5) allows upto 3 adjournments if Sufficient Cause Shown Delhi High Court

GST Section 75(5) allows upto 3 adjournments if Sufficient Cause Shown Delhi High Court

Sun & Sand Industries Africa Pvt Ltd Vs Sales Tax Officer Class-II/Avato Department of Trade And Taxes

The case involves Sun & Sand Industries Africa Pvt Ltd challenging an order dated 19.12.2023 passed under Section 73 of the

GST Penalty Should not Exceed Invoice Value Without proper evidence & reason Calcutta High Court

GST Penalty Should not Exceed Invoice Value Without proper evidence & reason Calcutta High Court

Ashish Kumar Sharma Vs Deputy Commissioner

The Calcutta High Court recently delivered a significant judgment in the case of Ashish Kumar Sharma Vs Deputy Commissioner, revolving around the computation of penalty by the GST department.

Detailed Analysis: The

Relaxation given to the Deductors / Collectors / Deductees on higher TDS demand due to Aadhar PAN not linked By BDT Circular No. 6/2024

Relaxation given to the Deductors / Collectors / Deductees  on higher TDS demand due to Aadhar PAN not linked By BDT Circular No. 6/2024

CBDT Circular No. 6/2024: Relief for TDS Deductors on PAN-Aadhar Linkage

The CBDT, aiming to address grievances of deductors / collectors who collected TDS/TCS at the normal rate

Govt defers implementation of Special Registration, Return Filing For Pan Masala, Gutkha Companies till May 15.

Govt defers implementation of Special Registration, Return Filing For Pan Masala, Gutkha Companies till May 15.

Notification No.08/2024 - CT  10th April 2024

Vide Notification No.08/2024 - CT dated 10.04.2024, Government has extended the deadline for implementation of special procedure for registration and monthly return filing of manufacturers of pan masala, gutkha

CBIC Waives Full Interest For Specified Taxpayers For Late Filing Of Gstr-3b Due To Portal Technical Glitches During Specified Months.

CBIC Waives Full Interest For Specified Taxpayers For Late Filing Of Gstr-3b Due To Portal Technical Glitches During Specified Months.

Notification No 07/2024 - Central Tax 8th April, 2024

CBIC specifies Nil interest for late filing of GSTR-3B due to technical glitches during specified months by the specified taxpayers.

Specified Taxpayers:

Registered person having

CLARIFICATION ON CIRCULAR NO. 193/05/2023-GST (17TH JULY 2023)

CLARIFICATION ON CIRCULAR NO. 193/05/2023-GST (17TH JULY 2023)

Clarification on Circular No. 193/05/2023-GST (17th July 2023). Understand the treatment of differences in Input Tax Credit (ITC) availed in GSTR-3B compared to GSTR-2A for the period 01.04.2019 to 31.12.2021. Learn about the applicable rules, percentages, and examples to navigate these GST updates

GST Demand Notices Sections 73 And 74 Of GST Act and Extension time to issue SCN for the financial year 2017-18, 2018-19 and 2019-20 Notification No. 09/2023

Introduction: The Goods and Services Tax (GST) legislation, encapsulated within Sections 73 and 74 of the GST Act, delineates clear procedures for addressing discrepancies such as unpaid or short-paid tax, improper refunds, or incorrect availment of input tax credit. These sections draw a significant distinction between unintentional errors, which are