GST Registration Guidelines: Strengthening the process of verification of applications
Introduction: To address problem of fake registration and fake input tax credit action on a mission mode by Central and State tax authorities in the form of a Special All-India Drive against fake registrations. In this context, it is further felt that verification of applications for registration by the proper officers is one of the […]
2- Factor Authentication for e-Way Bill and e-Invoice System
To enhance the security of e-Way Bill/e-Invoice System, NIC is introducing 2- Factor Authentication for logging in to e-Way Bill/e-Invoice system. In addition to username and password, OTP will also be authenticated for login.There are 3 different ways of receiving the OTP. You may enter any of the OTP and login to system. The various […]
Entitled to take ITC on Work Contract Services availed for construction Services
The Hon’ble Tripura High Court in M/s. SR Constructions v. The Union of India and Ors. held that the assesses is entitled to take Input Tax Credit (“ITC”) on taxable work contract services availed for the supply of construction of an immovable property. SUMMARY OF CASE LAW RELEVANT PROVISION FOR THE CASE Section 17(5)(c) of the […]
Calcutta High Court Rules Cash-Credit Facility Not Provisionally Attachable in GST
In the case of J. L. Enterprises v. Assistant Commissioner, State Tax [W.P.A. No. 12132 of 2023 dated May 25, 2023], the Hon’ble Calcutta High Court delivered a significant judgment regarding the attachability of cash-credit facilities in Goods and Services Tax (GST) cases. The court held that cash-credit facilities are not considered as debts and, […]
CBIC issues circular for Pre-import Condition & Implications on IGST & Compensation Cess
The Central Board of Indirect Taxes and Customs (CBIC) has notified guidelines on the pre-import condition in the Advance Authorization Scheme (AAS) pursuant to a Supreme Court decision. The Supreme Court has upheld the requirement of the pre-import condition to claim IGST and GST compensation cess on imports made under the AAS. The Gujarat High […]
GSTN developed Invoice Verifier App
The E-Invoice Verifier App developed by GSTN, has been introduced which offers a convenient solution for verifying e-Invoices and other related details. GSTN understands the importance of efficient and accurate e-invoice verification, and this app aims to simplify the process for your convenience. E-Invoice Verifier App – Key Features and Benefits: QR Code Verification: User-Friendly […]
NEW FEATURES IN E-Waybill System for the Enrolled Transporters & Common Enrolled Taxpayers
The e-Waybill Portal has introduced new features to enhance convenience for transporters and taxpayers. Transporters who no longer wish to be part of the e-waybill system can now de-register themselves, ensuring that their Transporter ID cannot be used in e-waybills. Additionally, taxpayers who have opted for common enrollment but want to cancel it can now […]
Standard Operating Procedure for Scrutiny of GST Returns from FY 2019-20.
The Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 02/2023-GST, providing a Standard Operating Procedure (SOP) for the scrutiny of returns for the financial year 2019-20 onwards. This instruction modifies the previous SOP issued for the financial years 2017-18 and 2018-19. The Directorate General of Analytics and Risk Management will select […]