Section 16: Eligibility and conditions for taking ITCWhat is the Eligibility Criteria?Every registered person shall be entitled to take credit of input tax char..
Importers can claim IGST and cess paid on their imports only after issuing the bill of entry (BoE). Hence, taxpayers must access the bill of entry on the portal to avail input tax credit seamlessly. The GST Network (GSTN) provides a framework to taxpayers for finding the relevant bill of entry.
Even after completing 5 years, one gets the feeling that GST is still an evolving law. Lot many changes are taking place with almost every GST council meeting. There are still some burning issues which are yet to be ironed out and decisively settled. These burning issues have been a bone of contention between department and the tax payers.
In this background the paper writer has examined summons provisions under GST, as well as important aspects to be taken care by assessee while attending summons.
In this article the paper writer has examined the latest circular and its impact for various kinds of recoveries made under GST law.
In case of GTA services, the person who is liable to pay freight is considered as the service recipient. Recipient of GTA service is liable to pay RCM on such freight. Accordingly RCM is payable under CGST, SGST or IGST head.
Search denotes an action of a Government machinery to go, look through or examine carefully a place, area, person, object etc. in order to find something which is concealed or for the purpose of discovering evidence of crime.
Show Cause Notice (SCN) is a warning or notification issued by a Courts, Competent Authorities or an Organization for an identified default demanding a tax payer to explain or to "show cause" in writing as to why the disciplinary/penal action should not be taken against the taxpayer for the identified defaults.
Section 61 of the CGST Act, 2017 empowers the proper officer to scrutinise the return filed and related particulars furnished by the registered person in order to verify the correctness of the return and inform the registered person about the discrepancies noticed and seek explanation on the same.
From now on, if a registered person takes residential dwelling on rent then he will have to deposit GST in reverse charge.
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