Section 16(4) of CGST Act Prescribes time limit for claiming the ITC. Many matters have gone to High court challenging the constitutional validity of this sub section.Bombay High have also admited such matters. Few of them are - DN wind System (I) pvt Ltd WPST /27887/2022 and Meta Tiles Pvt Ltd and otheres WPT 12338(original) 2021. The Business Audit for the period 2017-18 and 2018-2019 has been taken up by depatment wherein they propose to disallow the above crdit. As matter is pending in various courts, can assessee reqest for keeping the proceedding in abyance till matter is decided? Please…
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Hi, We have claimed GST Refund for FY 2017-18 in January 2020. Refund got processed. However during the GST Audit, officer is claiming to reject the refund and claim back amount. Is there any case laws to support the refund claim, providing mere delay in claim subject to meeting other refund claims should not be reason for rejecting refund. Thank you in advance. Look forward to hear from you at the earliest.
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What are the implications under GST if a partner of a firm receives stock in trade/raw material/ finished goods/ work in progress from the firm? Similarly, what are the implications under GST if a partner of a firm receives Capital Assets from the Firm?
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The dispute of extra area work was finally setteled throu arbitration award pertaning to pre GST period , now. Some compensation and interest was awarded by Arbitrator. On this GST is payable or VAT/ Service Tax/ excise is payable under old regim. ? It seems that this amount received is not covered by section 142(2)(a) as price of good or services are not revised upward . But dispute of extra area work is now settled. If VAT /service tax/ Excise is payabe, how to pay same as Return of those period cannot be filed now On above Interst income tax…
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GST rate on development charges or infrastructure charges collected by builder from customer. If its part of agreement value can it be at 1% or 5%
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Assessee was carrying business's of readymade garments as proprietor for many years. On 27th March 2022, assessee expired. As on the date of his death and as on 31.03.2022, there was closing stock of goods of Worth Rs. 700000 and unutilised input credit available of Rs. 58000/- . He was survived by his widow and minor child one Son and one daughter. As per the advice of tax consultant, wife has obtained the fresh registration under GST and continued the business. GST number of old proprietor is still not cancelled and no sale of cl stock is made. Issues: 1.…
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Apropos of the Question and Answer @ https://itatonline.org/digest/qa/is-collection-of-gst-by-mc-of-housing-associations-not-highly-objectionable-hence-to-be-stopped/ STATES have the power to levy GST on ‘supply of goods’ ; whereas the CENTRE ‘s power is restricted to levy tax only on ‘supply of services’ . As such, the 2020-21 GST Law Amendment, according to a view, rightly canvassed so, in so far as it imposes GST Levy on Clubs and Associations, by a deeming provision, cannot become effective in any State unless and until there is an independent Notification issued by that State . Premised so, the point of grave doubt is, besides the applicable MUTUALITY PRINCIPLE ,- whether…
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Assessee is registered dealer under GST Act . Returns for the period august 2018 to March 2019 were filed late on 31.10.2019. The last date of filing for it was 20.10.2019 as per sec 16(4). Assessee has received Notice u/sec. 16(4) asking him to pay the input credit availed in belated returns and also showcase as to why penalty U/Sec. 73 should not be levied for this default. Assessee has given all information to his Tax consultant in time , however due to some reasons he could not filed the Returns in time. <span;>Is there any remedy to regularise the…
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I AM A REGISTERED DEALER IN COMPOSITION SCHEME. I HAVE FISH SALE- 5000000/- AND MECHINERY PARTS SALE-5000000/- FISH SALE-HSN 0302 IS NIL RATED/EXEMPTED. DEPARTMENT IMPOSED 1% TAX ON TOTAL TURNOVER 10000000/- AM I LIABLE TO PAY TAX ON TOTAL TURNOVER?
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Time limit U/S 16(4) of GST