GST Articles

Safari Supreme Court Decision and ITC

Posted by CA Roopa Nayak 21 October 2024 1913 Views

In this article, the author has analyzed the implications latest Safari Supreme Court Decision.

Interpretation of the term 'As Is' or 'As Is, Where Is Basis' for regularizing the past period transactions

Posted by Affluence Advisory 21 October 2024 339 Views

In the recent circulars issued pursuant to 53rd and 54th GST council meeting wherein CBIC based on the recommendation of GST Council has clarified upon applicability of tax rate/classification or exemptions available in case of specified goods or services.

Recent Important Amendments in the CGST Rules

Posted by Bimal Jain 19 October 2024 864 Views

1. Rule 36 - Documentary requirements and conditions for claiming input tax creditCBIC vide Notification No. 20/2024 - Central Tax dated October 08, 2024 w.e.f....

ITC will be allowed when Immovable Property falls under Definition of Plan & Machinery: SC

Posted by FCS Deepak Pratap Singh 19 October 2024 830 Views

To give a plain interpretation to clause (d) of Section 17(5), the word "plant" will have to be interpreted by taking recourse to the functionality test.

Additional FAQs on IMS

Posted by Aarika 18 October 2024 379 Views

1: Which invoices are visible on the IMS dashboard since October 14, 2024?IMS is launched from the GSTR-2B return period of Oct'24. Hence, all the records eligi...

Impact of GST on Renting of Immovable Property

Posted by CA Aditya 14 October 2024 3507 Views

The Goods and Services Tax (GST) framework is set to undergo a significant change on October 10, 2024. This new update, introduced by the government, focuses on non-residential rental transactions.

Legality of Issuing a Single Show Cause Notice for Covering Multiple GST Assessment Years

Posted by Rajannaidu Karri 10 October 2024 1302 Views

The practice of the GST Department issuing a single Show Cause Notice (SCN) for multiple assessment years has raised significant legal concerns. While this practice may be convenient to the GST Department, it often creates challenges for both the GST Department as well as taxpayers.

9 Days of Navratri: 9 Key Points from Safari Retreats ITC Case

Posted by CA Umesh Sharma 07 October 2024 707 Views

Just like Navratri has 9 days, each with a special meaning, the Safari Retreats judgement offers 9 key points for businesses when it comes to claiming Input Tax Credit (ITC) under GST. Let's explore these 9 key points, one for each day of Navratri

GST on Mining Royalty Post 9 Judge bench SC decision - Is it attained finality?

Posted by CA Venkatprasad Pasupuleti 05 October 2024 583 Views

The State Government collects Royalty/Seigniorage charges as per the provisions of Mines and Minerals (Regulation and Development) Act, 1957 (MMDR Act for brevity hereinafter) read with rules framed by the concerned State Government from the lessee of the Mining site.

No Interest and Penalty if demanded tax amount is paid by 31st March 2025 for FYs 2017-20

Posted by Bimal Jain 01 October 2024 1094 Views

The Ministry of Finance has officially notified the enforcement of several sections of the Central Goods and Services Tax Act, 2017 ("the CGST Act"), including the newly introduced Section 128A in the CGST Act, w.e.f. November 1, 2024.