Goods and Service Tax

Browse Categories
Transition Plan | New GST Return Implementation
Blog
Sachin Jindal

Transition Plan | New GST Return Implementation

Implementation of new GST Return formats was finalized in 31st GST Council meeting and earlier it was decided to implement the same from April, 2019 onward on trial basis and from July, 2019 onwards on compulsory basis. However, implementation could not be made in such manner. Ministry of Finance has shared a transitional plan for implementation of such new gst return formats in phased manner vide press release dated 11th June, 2019 which is as follows: Month Phases of New GST Return format implementation May, 2019 A prototype of offline tool of new return format has been shared which looks

Read More »
Clarifications on filing of Annual Return
Blog
Kapil Mittal

Clarifications on filing of Annual Return (FORM GSTR-9)

The last date for filing of Annual return in FORM GSTR-9 is 30th June 2019. The trade and industry have raised certain queries with respect to filing of this Annual return which are being clarified as follows: Information contained in FORM GSTR-2A as on 01.05.2019 shall be auto-populated in Table 8A of FORM GSTR-9. Input Tax Credit on inward supplies shall be declared from April 2018 to March 2019 in Table 8C of FORM GSTR-9. Particulars of the transactions for FY 2017-18 declared in returns between April 2018 to March 2019 shall be declared in Pt. V of FORM GSTR-9. Such particulars may contain details of amendments furnished

Read More »
ITC on immovable property used for renting
Blog
Kapil Mittal

Admissibility of Input tax Credit on construction of immovable property when used for renting

Judgment of Hon’ble High Court of Orissa in the matter of M/s Safari Retreats Private Limited interprets provisions of Section 17(5)(d) of CGST Act, 2017 to check admissibility of Input Tax Credit paid on procurement of goods or services used for construction of immovable property for own purpose of assessee. Hon’ble High court has held that as petitioner is paying GST on rental income which is arising out of investment on which GST has been paid and since there is no break in chain of business from point of procurement of material and services for construction till renting of immovable

Read More »
FIR under IPC for offence committed under GST Law
Blog
Sachin Jindal

Sustainability of First Information Report (FIR) under IPC for offence committed under GST Law

Judgment of Hon’ble Allahabad High Court in the matter of M/s Govind Enterprises Vs. State of U.P. and other has analyzed sustainability of FIR lodged for prosecution under Indian Penal Code for an offence committed under Central goods and Service Tax Act. Hon’ble high court has held that Section 131 of GST law impliedly save provisions of Indian Penal Code. Further, an offender can be prosecuted for same offence under two enactments; however, he can’t be punished twice for same offence. Therefore, impugned FIR and proceedings are maintainable. Hon’ble High Court further held that granting of stay from arrest will

Read More »
manual GST refund application
Blog
Kapil Mittal

Once the High court order issues, GST officer bound to accept manual GST refund application

In the recent judgement, Delhi High court made it clear that once order of the High Court was issued, the GST officer was bound by the same to accept manual GST refund application from the taxpayer. Delay in processing of refund claims and grant on provisional refund within the statutory timelines have resulted in severe working capital and compliance issues for taxpayers.  Often, taxpayers have approached courts to obtain directions from the courts in order to expedite the refunds.  Recently, the Delhi High Court in the case of GSI Products and AC Impex vs. Union of India and PC Universal

Read More »
recredit of rejected itc refund
Blog
Kapil Mittal

Input tax credit of rejected refund amount can be taken manually by taxpayer if not recredit by tax authorities

Where rejection of refund claim by the GST authorities, the rejected ITC should be recredit to Input tax credit ledger of taxpayer for utilisation. However Since there is no mechanism to do so, this resulted in certain difficulties to taxpayers in cases where the existing Input Tax Credit (‘ITC’) was not recredited by tax authorities for utilisation.  In this case, the Gujrat High Court (‘HC’) has provided valuable guidance on the subject in the case of M/s. Garden Silk Mills Ltd. Vs. Union of India (R/Spl Civil Appl No. 7397 Of 2018) vide order dated 11 April 2019. It has

Read More »
National Anti-Profiteering Authority rules on passing on benefits of lower GST rate to home buyers
Blog
Sachin Jindal

National Anti-Profiteering Authority rules on passing on benefits of lower GST rate to home buyers

Introduction The NATIONAL ANTI-PROFITEERING AUTHORITY ruled that profiteering should be determined at the point in time and not at the completion of the project. As the developer had availed ITC during the project tenure, the developer was liable to pass on the benefits of lower GST to home buyers by way of commensurate price reduction. The NATIONAL ANTI-PROFITEERING AUTHORITY agreed with the findings of the DGAP and directed the developer to refund the net benefit of ITC by way of price reduction and excess GST collected from the flat buyers, along with interest @ 18% per annum. Salarpuria Real Estate

Read More »
Verification of Transitioned Credit
Blog
Sachin Jindal

Verification of Transitioned Credit – Snapshots

CBEC has issued a detailed circular no. D.O.F. No. 267/8/2018-CX.8 on Verification of Transitioned Credit to GST through Form TRAN-1. Key aspects are stated below:  Credit verification to be remain the primary focus area during Fy 18-19. Credit verification to take place by CGST authorities even if the jurisdiction is with state Credit of KKC/SBC/E cess is not eligible Each line wise data in Tran-1 to be verified in detail Supporting documents and other info to be sought from assessee Credit taken in excess of INR 25 Lakhs is being verified  List of 50000 assessee is being targeted for initial verification

Read More »
Taxability Of Tenancy Rights Under GST
Blog
Kapil Mittal

Issue Related To Taxability Of Tenancy Rights Under GST

Doubts have been raised as to,— (i)  Whether transfer of tenancy rights to an incoming tenant, consideration for which is in form of tenancy premium, shall attract GST when stamp duty and registration charges are levied on the said premium, if yes what would be the applicable rate? (ii) Further, in case of transfer of tenancy rights, a part of the consideration for such transfer accrues to the outgoing tenant, whether such supplies will also attract GST? 2. The issue has been examined. The transfer of tenancy rights against tenancy premium which is also known as “pagadi system” is prevalent in some States.

Read More »
27th GST Council Meeting
Goods and Service Tax
Sachin Jindal

Key Takeaways from 27th GST Council Meeting

GST Council in its 27th GST Council meeting held in New Delhi today, ie, 4th May, 2018 has made the following recommendations which are stated below: One monthly Return All taxpayers excluding a few exceptions like composition dealer shall file one monthly return. Return filing dates shall be staggered based on the turnover of the registered person to manage the load on the IT system. Composition dealers and dealers having nil transaction shall have the facility to file quarterly return. Unidirectional Flow of invoices There shall be unidirectional flow of invoices uploaded by the seller on anytime basis during the

Read More »



Want to talk to us

Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118

V J M & Associates LLP

Contact Us

Join The Club!

Join the list of 200000 entrepreneur

Lets informed

X