July 25, 2022
Firstly, the present article briefly explains the burning issue which is being faced by the bona fide recipient who is demanded a reversal of input tax credit on the basis of non-payment of output tax liability by the supplier.Later on, the article briefs various grounds which can be taken up by the bona fide recipient
May 24, 2022
Recently, matching and mismatching of Input Tax Credit (ITC) have created a huge havoc, within the trade and industry, under Goods and Services Tax (GST). In the FAQ on ITC article, let us go through some of the frequently asked questions relating to ITC mismatch which will be helpful for clearing the relevant concept to
May 9, 2022
GST Input Tax Credit can be availed without any blocking of your credit if it is done in a right way. This article is mainly focused on ITC claim in GST and its dependence on ITC reconciliation process.Claiming of GST Input Tax Credit on the purchases made can be difficult and availing only the eligible
May 9, 2022
Provisions of section 2(63) of the Central Goods and Services Tax Act, 2017 cover the definition of ‘input tax credit’. Accordingly, ‘input tax credit’ means the credit of input tax. It is worth making a note here that except simple definition, each and every thing is complicated when it comes to availment of input tax
April 29, 2022
One of the basic reason behind the introduction of Goods and Services Tax is the availability of a seamless flow of Input Tax Credit under GST. However, ‘seamless flow of credit’ and taxable person under GST are sadly going through a complete roller coaster ride. Article briefly explain on ITC Reconciliation, GSTR2B Reconciliation Vs matching
April 18, 2022
As we all are aware, one of the main purposes behind the introduction of Goods and Services Tax (GST) was the availability/ allowability of a ‘seamless flow of credit’. However, factually, with each passing day and continuous changing GST law, availment of an input tax credit is getting complicated even for the genuine recipient/ buyer.