May 20, 2024
This article delves into the complexities surrounding the time limits for claiming Input Tax Credit (ITC) in GSTR 3B. The eligibility for ITC has been a contentious issue in indirect tax laws, and despite promises of seamless credit flow in the GST regime, disputes have arisen. This piece particularly focuses on the interpretation of Section
December 22, 2023
One of the fundamental reasons for the implementation of GST was the seamless flow of input tax credits. However, ironically, availment and utilization of input tax credit has become a painful task for the taxpayer under GST. ITC Reversal as per Rule 37A article briefly speaks on its applicability, re-availment of ITC.In order to get
November 18, 2022
Table of Contents 1DIN in GST and its structureSteps for verification of DIN2DIN application procedure3DIN in GST : Implementation of Current position4Direction of Supreme CourtObservation of Hon’ble Supreme CourtDirection of Hon’ble Supreme Court5File your GST returns in minutes, not hours! Generation and quoting of Document Identification Number, shortly and popularly known as DIN, was introduced DIN
November 18, 2022
Table of Contents 1Initiation of recovery proceedings under GST2Modes of recovery under GSTDifferent modes of recovery under GST3Recovery Provisions in GSTSection 81 – Transfer of property to be void in certain casesSection 82 – Tax to be first charged on the propertySection 83 – Provisional attachment to protect revenue in certain case4Claim upto 100% Input
October 21, 2022
Table of Contents Budget update 20221What are conditions for ITC claim under GST2GSTHero Solutions for claiming 100% accurate ITCClaim upto 100% Input Tax Credit Claiming the correct amount of Input Tax credit is vital to the Goods and Services Tax regime. In simple terms, the ITC claim under GST subtracts the tax paid on inputs
September 15, 2022
Without valid ITC claims, it is simple to assume that you are not entirely GST compliant (Instead of GST compliant, we can say revenue loss due to paying GST via cash). It is advantageous for firms to have access to a report that shows the percentage of their mismatched credit since they will need to