The Government has notified certain changes in Table 4 of Form GSTR-3B to enable taxpayers to report correct information regarding ITC availed, ITC reversal, ITC re-claimed, and ineligible ITC through Notification No. 14/2022 - CT. Circular 170/2022-CGST also was issued to clarify disclosure practices that can be followed.
BackgroundIn the GST law, the export of goods/services are zero-rated supplies under the IGST act. The intention of the Government is to promote exports from th..
For many taxpayers seeking refunds under the Goods and Services Tax (GST) regime, delays and bureaucratic hurdles can feel like an endless maze. But a recent ray of hope emerged from the Delhi High Court, offering a potential escape route with its directive in one of the case.
This recent Judgement passed by the Hon'ble Madras High Court has to an extent resolved the anomaly with respect to taxability of vouchers under the GST regime...
In the intricate world of Goods and Services Tax (GST), staying abreast of changes and adopting efficient practices is crucial for businesses. One such recent development is the introduction of the Electronic Credit Reversal and Reclaim Statement (ECRRS).
In this article, the paper writer has examined the relevant decisions wrt 16(4) as well as the validity of credit availed post such due dates.
Live Class on Discover the Dynamics of Reverse Charge Mechanism in GST
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