GST Articles

Recent Important Amendments in the CGST Rules

Bimal Jain 19 October 2024 at 11:47

1. Rule 36 - Documentary requirements and conditions for claiming input tax creditCBIC vide Notification No. 20/2024 - Central Tax dated October 08, 2024 w.e.f...

ITC will be allowed when Immovable Property falls under Definition of Plan & Machinery: SC

FCS Deepak Pratap Singh 19 October 2024 at 07:54

To give a plain interpretation to clause (d) of Section 17(5), the word "plant" will have to be interpreted by taking recourse to the functionality test.

Additional FAQs on IMS

Aarika 18 October 2024 at 15:28

1: Which invoices are visible on the IMS dashboard since October 14, 2024?IMS is launched from the GSTR-2B return period of Oct'24. Hence, all the records eligi..

Impact of GST on Renting of Immovable Property

CA Aditya 14 October 2024 at 08:37

The Goods and Services Tax (GST) framework is set to undergo a significant change on October 10, 2024. This new update, introduced by the government, focuses on non-residential rental transactions.

Legality of Issuing a Single Show Cause Notice for Covering Multiple GST Assessment Years

Rajannaidu Karri 10 October 2024 at 08:44

The practice of the GST Department issuing a single Show Cause Notice (SCN) for multiple assessment years has raised significant legal concerns. While this practice may be convenient to the GST Department, it often creates challenges for both the GST Department as well as taxpayers.

9 Days of Navratri: 9 Key Points from Safari Retreats ITC Case

CA Umesh Sharma 07 October 2024 at 14:50

Just like Navratri has 9 days, each with a special meaning, the Safari Retreats judgement offers 9 key points for businesses when it comes to claiming Input Tax Credit (ITC) under GST. Let's explore these 9 key points, one for each day of Navratri

GST on Mining Royalty Post 9 Judge bench SC decision - Is it attained finality?

CA Venkatprasad Pasupuleti 05 October 2024 at 15:16

The State Government collects Royalty/Seigniorage charges as per the provisions of Mines and Minerals (Regulation and Development) Act, 1957 (MMDR Act for brevity hereinafter) read with rules framed by the concerned State Government from the lessee of the Mining site.

No Interest and Penalty if demanded tax amount is paid by 31st March 2025 for FYs 2017-20

Bimal Jain 01 October 2024 at 13:35

The Ministry of Finance has officially notified the enforcement of several sections of the Central Goods and Services Tax Act, 2017 ("the CGST Act"), including the newly introduced Section 128A in the CGST Act, w.e.f. November 1, 2024.

Relaxation for the availment of ITC for the FYs 2017-2021

Bimal Jain 01 October 2024 at 13:19

Due to various factors, including financial constraints, lack of knowledge on the part of taxpayers or their accountants/tax consultants, and the cancellation of GST registrations for multiple reasons, etc., registered persons could not file their statutory returns