GST laws contain Transitional provisions inter alia Section 140 of CGST Act, 2017 (similar provisions in State GST laws) enables the taxpayer to carry forward the unutilized input credit under the pre-GST regime and allow the credit of taxes paid on the stock as on 30.06.2017 as GST credit.
On receipt of Notice, before responding to any notice or any other communication, the taxpayer must ensure whether the notice is issued the jurisdictional proper officer?
The Rule 36(4) prescribed that ITC shall be entitled to the extent of the invoices uploaded by the suppliers and gives another 10% of the matched ITC in addition to the matched ITC.
Refund Of ITC On Capital Goods: A Possible Perspective
Amendment in Rule 96(10) - Sigh of relief to Goods Exporters
The interest liability for any belated remittance is an economic consequence. The tax laws are no exception to this rule. GST law provides for interest @18% on the delayed remittance of the tax after due date.
In recent years, the issue of Service Tax/GST liability on the Notice period recovery is a subject matter of dispute.
Validity of the direct recovery of Interest under GST?
In view of the unvarying series of judicial decisions, the taxpayers who have missed claiming transitional credits initially can now claim the same. The suggested course of action is given in this article.
Advance Authorisation (AA), is one of the schemes under Foreign Trade Policy, 2015-20 (hereinafter referred to as the 'FTP') which allows the manufacturer exporter or merchant exporter to import inputs without payment of customs duties in terms of chapter 4 of FTP read with Notification No.18/2015 Cus dated 01.04.2015 as amended.