GST Articles

Bombay HC issues notice in writ challenging Rule 89(5) denying refund of 'input services' under inverted duty structure

Posted by Bimal Jain 22 February 2020 12456 Views

Facts:M/s Raymond UCO Denim Private Limited ('Raymond' or 'the Petitioner'), approached the Hon'ble Bombay High Court challenging the vires of Rule 89(5) of the CGST Rules, 2017('CGST Rules') on the ground that it runs contrary to the provisions of S

Memorandum for GST problems faced by Trade and Industry and some suggestions to solve them to give relief to Trade and Industry

Posted by CA Sudhir Halakhandi 22 February 2020 14415 Views

Memorandum for GST problems faced by Trade and Industry and some suggestions to solve them to give relief to Trade and Industry

Reversal of Input Tax Credit Availed under GST Regime

Posted by Dilip K Raina 22 February 2020 17761 Views

One of the major steps to curb false/fraudulent claims of input tax credit was initiated under Goods and Services Tax regime by introducing a procedure to reverse the amount of input tax credit availed within 180 days in case no or part payment is made to the supplier of goods or services with interest as notified under section 50(1).

Dahi Handi of GST Annual Return and GST Audit

Posted by CA Umesh Sharma 22 February 2020 5211 Views

Arjuna (Fictional Character): Krishna, this is 300th Karneeti article and on the eve of Janmashtami, it's double celebration. Janmashtami was celebrated with great enthusiasm, all the "Govindas" tried hard for reaching "Dahi Hand" by forming pyramid and breaking "Dahi Handi".

GST Taxpayers!! - Arise and Fight against Injustice of Interest Charged

Posted by CA Umesh Sharma 17 February 2020 18061 Views

CBIC asked the tax officers to collect tax on the Gross Tax Liability. Post this the taxpayers raised concerns that the interest should be calculated on the net tax liability as proposed in the Union Budget by the FM by way of amendment in Section 50 of the CGST Act, however, the CBIC clarified that the effect of such amendment will be prospective.

21 Big Mistakes in GST

Posted by CA Sudhir Halakhandi 10 February 2020 56765 Views

The Goods and Service Tax Act is full of flaws. Taxpayers are dealing with new problems every day. Here are the 21 big mistakes in GST.

ITC and GST on Canteen Services by employer

Posted by CA. Anshul Medatwal 10 February 2020 22381 Views

Canteen services provided by an employer to its employee is taxable under GST. The employer can pay GST @5% on such services without taking ITC on inputs of such services. However, this rate is under dispute. Therefore, it is advisable to charge GST @18% & take ITC on inputs.