The GST Council has examined the issue in respect of applicability of e-invoice under rule 48(4) of Central Goods and Services Tax Rules, 2017 w.r.t supplies made by a registered person, whose turnover exceeds the prescribed threshold for generation of e-invoicing, to Government Departments registered solely for the purpose of deduction of tax at source […]

The GST Council has examined the issue in respect of GST liability as well as liability to reverse ITC against the supplies of replacement of parts and repair services during the warranty period without any consideration from the customers. This issue has been clarified through Circular No. 195/07/2023-GST dated 17th July 2023.   To know more, read in detail the

The GST Council has examined the issue that whether the holding of shares in a subsidiary company by the holding company will be treated as ‘supply of service’ under GST and will be taxed accordingly or whether such transaction is not a supply through the Circular No. 196/08/2023-GST dated 17th July 2023 and clarified the same.   To know more,

The GST Council has examined the issue of chargeability of interest u/s 50(3) of the CGST Act, 2017 in the cases where IGST credit has been wrongly availed and reversed later. The clarification for the same has been issued through the Circular No. 192/04/2023-GST dated 17th July 2023.   To know more about the clarifications, read in detail the

As per the update given on the e-Way Bill portal dated 12th June 2023, NIC has introduced the 2 Factor Authentication for logging onto e-Way Bill and e-Invoice System to ensure a better security system. This would be mandatory from 15th July 2023 for the taxpayers having annual aggregate turnover of more than rupees 100crore.   To know more, read

The issue of fake/ bogus registration has became a menace for the government, regarding which Instruction No. 03/2023 dated 14th June, 2023 has been issued. The main aim of this instruction is to verify the applications for registrations. This would strengthen the process of scrutiny and will enhance the transparency of GST registrations. The emphasis has

CGST ACT Section 62 Notification No. 06/2023 CT dated 31.03.2023 An amnesty scheme has been introduced where best judgement assessment order passed on or before 28.02.2023 under section 62 of the CGST Act can be set aside if valid return is furnished on or before 30.06.2023 subject to compliance with certain other terms of the

The issue of transitional credit has always been in light especially when the registered person availed an amount equivalent to said credit in the return filed in Form GSTR-3B and later, reversed the transitional credit posted to Electronic Credit Ledger. Recently, Hon’ble Madras High Court in the case of M/s. Grundfos Pumps India Pvt. Ltd. Vs

Vide Instruction No 02/2023 dated 26.05.2023, it has been informed that scrutiny module has been made available on ACES-GST application by the Director’s General (DG) system, namely “Scrutiny of Returns”, for scrutiny of returns under section 61 of the CGST Act, 2017 pertaining to FY 2019-20 onwards. The functionality so developed will identify the GSTINs which

The act of cancelling the registration of taxpayers w.r.e.f. 01.07.2017 has become a new normal. This act of proper officer has many consequential repercussions and most problematic being the eligibility of the ITC availed by recipient’s i.r.o. transactions done with such taxpayers whose registration is cancelled erroneously with retrospective effect. Recently, Hon’ble Delhi High Court