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One held by CGST Delhi officials for fraudulently passing on fake ITC of Rs 14.30 crore

In the ongoing campaign against fake/bogus invoices and resultant availment of inadmissible ITC, officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East) have detected a case of issue of fake bills of Rs. 79.5 crore (approx). The syndicate was being operated by Sh. Nitin Jain, C.A by floating three firms i.e M/s Anshika Metals, M/s N.J Trading Co. and M/s A.J Enterprises using the identity of his family members, with the intent of passing of inadmissible ITC. Sh. Nitin Jain..

Posted in news |   1 comments |   3618 Views


How to Calculate 5% Provisional ITC in FORM GSTR-3B as per the CGST Rule 36(4)?

Introduction Initially registered persons could claim Input Tax Credit on a self-declaration basis in Table 4(a) of GSTR-3B. The ITC that could be claimed on self-declaration basis included a summary figure of IGST, CGST and SGST. There was no requirement for reconciliation with GSTR-2A until clause 4 was added to the rule 36 of CGST rules through notification no. 49/2019 dated 9th October,2019. What is Rule 36(4) of CGST Rules? As per Rule 36(4), Input tax credit to be availed by a reg..

Posted in articles |   2 comments |   12792 Views


Rule 86B of CGST Rules and its Impact

The Central Government introduced the 14th amendment rules vide notification no 94/2020 dated 22.12.2020. This notification resulted in various changes in CGST Rules, 2017 which have a severe impact on various sectors. One of them is the introduction of Rule 86B which came into effect on 01.01.2020. This rule restricts the utilization of available ITC in the electronic credit ledger of the registered person. It allows the registered person to avail ITC to pay only 99% of the tax liability. T..

Posted in articles |   3 comments |   9735 Views


Central Government releases the Central Goods and Services Tax (Amendment) Rules, 2021

The Central Board of Indirect Taxes and Customs has amended the Central Goods and Services Tax Rules, 2017, and has released the Central Goods and Services Tax (Amendment) Rules, 2021. Read the official announcement and the amendments made in the Rules below: [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 0..

Posted in news |   1449 Views


CGST Delhi West Commissionerate arrests one for duty evasion of around Rs 831.72 crores

The Central GST Delhi West Commissionerate has unearthed evasion of GST by way of manufacture and clandestine supply of gutkha/pan masala/tobacco products without any registration and payment of duty. On basis of the search at the premise of manufacture, it was found that illegal manufacturing of Gutkha/pan masala/tobacco product was going on, evidenced by a godown, machines, raw materials and manufactured products at the premises. Around 65 labourers were found working at the illegal factory. T..

Posted in news |   3555 Views


Cancellation of registration under Rule 22 of the CGST Rules aligned with newly inserted sub-rule (2A) of Rule 21A

The CBIC vide Notification No. 94/2020-Central Tax, dated December 22, 2020 has issued Central Goods and Services Tax Rules (Fourteenth Amendment), 2020, inter alia, amending Rule 22 of the Central Goods and Services Tax Rules, 2017 ("CGST Rules"), dealing with "Cancellation of registration" in following manner: • Rule 22(3) - Inserted the words "or under sub-rule (2A) of rule 21A" after the words, brackets and figure "the show cause issued under sub-r..

Posted in articles |   1 comments |   8124 Views


CGST (Fourteenth Amendment) Rule, 2020

Time limit for system-based GST Registration increased The time for system-based registration has been enhanced from 3 days to 7 days. That means, now department shall be required to review and grant registration within 7 days against 3 days as provided earlier from the date of filing of registration application. Where the applicant does not do Aadhaar authentication or where department feels fit to carry out physical verification the time limit for grant of registration shall be 30 days inst..

Posted in articles |   618 Views


Important Changes Introduced in CGST (Fourteenth Amendment) Rules 2020

Important Changes introduced CGST(Fourteenth Amendment) Rules 2020 Time limit for system-based GST Registration increased 1. The time for system-based registration has been enhanced from 3 days to 7 days. That means, now department shall be required to review and grant registration within 7 days against 3 days as provided earlier from the date of filing of registration application. Where the applicant does not do adhaar authentication or where department feels fit to carry out physical ..

Posted in articles |   3483 Views


Is ITC available on wires laid for transmission of electricity by business houses?

Industries worldwide with the pace of their growth, in order to squeeze the benefits of economies of scale, tends to perform the functions on their own for which they generally are dependent on the third person. In this article, among the various functions performed, I would like to throw some light on the admissibility of Input Tax Credit on transmission wires laid outside the factory premises i.e. on the areas not owned by them, by the big factory houses generated in their own thermal plants u..

Posted in articles |   1 comments |   4386 Views


The validity of Section 16(4) of the CGST Act

Under GST, there are many restrictions on availing of the input tax credit. One such limitation is present by the way of section 16(4) limiting the date of claiming the input tax credit to the due date filing of the return for September or date of filing of annual return whichever is earlier. Now GST department has started issuing the notices for those assesses that have filed returns after the due date mentioned in section 16(4) and hence, instructing them to reverse the credit that is being cl..

Posted in articles |   1 comments |   8133 Views


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