DRC-01 stands for "Demand and Recovery Certificate-01" is a form that is used by the officer under GST to issue a summary of the show cause notice to a taxpayer.
Going to Tribunal under GST requires 30% pre-deposit. Moving to High Court in each case requires hefty charges which may be affordable in some cases but not in all cases.
Consider the situation where the input product was chargeable only at the rate of 5% and assesses supplier mistakenly charged higher rate of 18% GST on input for final product, which is chargeable to lower rate of GST of 5%
Let us take the case of Tvl.Kavin HP Gas Gramin Vitrak vide Order No. W.P.(MD).Nos.7173 and 7174 of 2023 and W.M.P.(MD)Nos.6764 and 6765 of 2023 dated 24.11.2023 to understand the impact of the unavailability of Form GSTR-2 on the Input Tax Credit (ITC) reversal and the analysis of Section 16(4) regarding the time limit for belated ITC claims.
The government is looking for a significant change in the Goods and Services Tax system by considering the introduction of the option for taxpayers to file updated or revised returns.
Geo-coding is a mandatory procedure for address verification under the Goods and Services Tax (GST) system in India.
The officers are conducting on-site visits to entities and shops to purchase products and inspect the issued invoices. If the invoices are fake or incorrect, they issue notices under section 122 (1) (i) of the CGST Act, 2017.
Blocking of ITC u/s 86A is possible only when the officer has a strong case; opportunity of being heard has to be provided to the taxpayer also
Under the Goods and Services Tax system, demand can be raised when there is a short payment or incorrect utilization of ITC by the taxpayer.
In this blog, we will discuss the impact of this growth on the Goods and Services Tax (GST) for mobile phones.
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