A Show Cause Notice (SCN) is a preliminary document issued by tax authorities to a taxpayer when there is an alleged non-compliance or violation of tax laws.
The Central Goods and Service Tax (CGST) Act introduced Rule 86B vide Notification number 94/2020 dated 22nd December, 2020. Rule 86B is made effective from 1st January 2021 curb the menace of fake invoicing and tax evasion.
In a recent judgment of Jharkhand HC, the captioned principle has been discussed at length.
The Goods and Services Tax (GST) in India has been a subject of continuous evolution since its implementation. One such aspect that has been a cause for concern among taxpayers is the compliance with Rule 86B.
The Goods and Services Tax (GST) regime allows businesses to claim Input Tax Credit (ITC) on purchases used for taxable supplies. However, there are situations where previously claimed ITC needs to be reversed.
In this comprehensive guide, we will delve into a step-by-step process to comprehensively understand and analyze GST notices, ensuring a thorough and informed response.
Let's check the legal provisions related to the GST credit note issue so that we can find out whether such credit notes can be issued to B2C suppliers.
In the Goods and Services Tax (GST) system, whether a supply is classified as intra-state or inter-state depends on the locations of the supplier and the recipient. This classification determines whether integrated tax or a combination of central and state tax is paid.
The allocation of GST numbers and rates, the functioning of GST Suvidha Centers, and the implementation of GST have been tough tasks. In this article, we'll discuss the main problems and how they impact businesses.
This article will guide you in learning more about GST for commission agents and brokers.
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