GST Articles
Gujarat HC granted interim relief in writ challenging late fee for delayed filing of GSTR-3B
The Hon'ble Gujarat High Court in the matter of AAP & Co. vs Union of India has grants interim relief in writ challenging imposition of late fees for late filing of GSTR-3B under Section 47 of the CGST Act.
Clause by clause analysis of changes in GST vide Finance Bill 2020
Clause by clause analysis of changes in GST vide Finance Bill 2020
GST Vital Practical Problems - Part I
GST is new tax and the dealers who followed it from the initial stage have made some technical mistakes which were not noticed by them within time or they were not rectified by the dealers since the facility of revision of such mistakes was not there. These were innocent mistakes and not the fraud and/evasion of tax.
GST problems require immediate solution
The GST is at vital stage at present. The Department is concerned about revenue and the Taxpayers are anxious about actions to be initiated against them for technical and innocent Mistakes done by them while trying to follow the back to back stringent GST procedures without any intension of evasion of tax.
Documentation under GST audit
Audit documentation is the written record (including electronic record) prepared during the course of audit which forms foundation for auditor's in preserving the various observations identified during the audit, acts as a proof of performance of audit and safeguard the auditor at the time of dispute.
Demand for interest payable on delayed GST payment on the Gross amount of tax payable
Demand for interest payable on delayed payment of GST dues being raised on the Gross amount of tax payable before the availment of Input Tax Credit (ITC)
Beware! No Entry for false entry in Income Tax and GST!!
Several cases of fraudulent claim input tax credit (ITC) have been caught by the GST authorities. Considering the same, in Union Budget 2020 it has been proposed to take massive steps to curb issuance of fake invoices. To curb issuance of fake invoices, New penalty section 271AAD has been proposed to be inserted in the Income Tax Act through Finance Bill, 2020.
GST on Supply of Lottery Tickets
What is Lottery Tickets 'Lottery tickets', is actionable claim and is classified as 'Goods', under GST. However as per Schedule III Actionable Claim is neither supply of Goods nor Supply of Service, but Lottery Tickets is exception.
Who can avail Letter of Undertaking under GST?
Any registered person availing the option to supply goods or services for export without payment of integrated tax shall furnish, prior to export, a bond or a Letter of Undertaking in FORM GST RFD-11 to the jurisdictional Commissioner.
Request to PM to stop collecting interest on Gross GST Liability
The FM in the Union Budget 2020 announced to amend section 50 of the CGST Act and collect interest on the Net GST Liability. However, a few days ago CBIC issued a clarification that the interest will be collected on the effect of such amendment will be prospective and not retrospective.
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