In this article we shall see how the GST Rate List affects small groups is critical for small businesses to make informed choices and make certain compliance.
The case, Y.M. Motors Private Limited vs. Union of India, highlights the judiciary's commitment to safeguarding the rights of taxpayers in instances where technicalities obstruct substantive justice.
In this article, we discuss its implications on composition taxpayers and give some tips to reduce the financial and compliance burden.
The Goods and Services Tax (GST) portal has recently introduced a significant update in the form of an Invoice Management System (IMS).
Relief from demand raised due to wrong availment of ITC for FY 2017-18, 2018-19, 2019-20 and 2020-21 in Contravention of Section 16(4)
Impact of Notification No. 09/2024 on RCM for Rent Paid to Unregistered Persons: A Discussion on Family-Owned Commercial Properties
In a significant judgment, the Allahabad High Court, in the case of Exide Industries Ltd. v. Addl. Commissioner Grade-II (Appeal)-1, delivered on July 9, 2024, ruled that goods transported under the GST regime cannot be seized or penalized solely due to a vehicle deviating from its expected route.
Recently, some taxpayers reported issues with the generation of GSTR-2B for the October 2024 tax period, citing its absence from the GST portal on November 14, 2024.
If you have observed that there are discrepancies between GSTR-2B and GSTR-3B or GSTR-2B is not generated, then you can look for these steps to re-compute it
IMS allows recipient taxpayers to take various actions like accept, reject, or keep invoices pending based on the records uploaded by their suppliers in GSTR-1 or IFF. This gives recipients control over their Input Tax Credit (ITC) eligibility before filing GSTR-3B.
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