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GST Input Tax Credit Archives - All About Finance https://taxclick.org/tag/gst-input-tax-credit/ Sat, 31 Oct 2020 06:56:39 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://taxclick.org/wp-content/uploads/2021/11/favicon.png GST Input Tax Credit Archives - All About Finance https://taxclick.org/tag/gst-input-tax-credit/ 32 32 CGST officials bust racket for generating fraudulent input tax credit through fake billing of around Rs 1,278 crore https://taxclick.org/type/gst/cgst-officials-bust-racket-generating-fraudulent-input-tax-credit-fake-billing-around-rs-1278-crore/?utm_source=rss&utm_medium=rss&utm_campaign=cgst-officials-bust-racket-generating-fraudulent-input-tax-credit-fake-billing-around-rs-1278-crore https://taxclick.org/type/gst/cgst-officials-bust-racket-generating-fraudulent-input-tax-credit-fake-billing-around-rs-1278-crore/#respond Sat, 31 Oct 2020 06:56:22 +0000 https://taxclick.org/?p=4933 Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST),Commissionerate, Delhi (East) have busted a major racket for generation of huge inadmissible input tax credit (ITC) through fake billing of Rs 1,278 crore (approx). The well established syndicate was being operated by floating seven different fake firms ... Read more

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]]> https://taxclick.org/type/gst/cgst-officials-bust-racket-generating-fraudulent-input-tax-credit-fake-billing-around-rs-1278-crore/feed/ 0 DGGI Gurugram arrests man for forging input tax credit of around Rs 392 crore https://taxclick.org/type/gst/dggi-gurugram-arrests-man-forging-input-tax-credit-around-rs-392-crore/?utm_source=rss&utm_medium=rss&utm_campaign=dggi-gurugram-arrests-man-forging-input-tax-credit-around-rs-392-crore https://taxclick.org/type/gst/dggi-gurugram-arrests-man-forging-input-tax-credit-around-rs-392-crore/#respond Sat, 31 Oct 2020 06:47:26 +0000 https://taxclick.org/?p=4929 The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Kabir Kumar, resident of New Delhi on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit by way of issuance of invoices without any actual receipt or supply of goods or services. It ... Read more

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]]> https://taxclick.org/type/gst/dggi-gurugram-arrests-man-forging-input-tax-credit-around-rs-392-crore/feed/ 0 GST Update: Taxpayers can now avail transitional credit up to 30th June 2020 as per Delhi High Court decision https://taxclick.org/type/gst/gst-update-taxpayers-can-now-avail-transitional-credit-30th-june-2020-per-delhi-high-court-decision/?utm_source=rss&utm_medium=rss&utm_campaign=gst-update-taxpayers-can-now-avail-transitional-credit-30th-june-2020-per-delhi-high-court-decision https://taxclick.org/type/gst/gst-update-taxpayers-can-now-avail-transitional-credit-30th-june-2020-per-delhi-high-court-decision/#respond Wed, 10 Jun 2020 09:57:24 +0000 https://taxclick.org/?p=4880 This update seeks to discuss about the transitional credit which was entitled to be carry forward by the taxpayers while migrating to GST from the erstwhile regime. The time limit for availing the benefit of carry forward of transitional credit is prescribed by Rule 117 which is being amended from time to time. The time ... Read more

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]]> https://taxclick.org/type/gst/gst-update-taxpayers-can-now-avail-transitional-credit-30th-june-2020-per-delhi-high-court-decision/feed/ 0 GST Update on ITC passed on by Input Service Distributor through GSTR-6 https://taxclick.org/type/gst/gst-update-itc-passed-input-service-distributor-gstr-6/?utm_source=rss&utm_medium=rss&utm_campaign=gst-update-itc-passed-input-service-distributor-gstr-6 https://taxclick.org/type/gst/gst-update-itc-passed-input-service-distributor-gstr-6/#respond Mon, 13 Nov 2017 12:08:46 +0000 https://taxclick.org/?p=4203 Under GST regime, head office of a company is treated as a distinct person requiring separate registration as input service distributor (ISD) if it intends to distribute the credit. In such a case, separate return is being prescribed in form GSTR-6 which is supposed to be filed monthly between the 10th to 13th of subsequent ... Read more

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]]> https://taxclick.org/type/gst/gst-update-itc-passed-input-service-distributor-gstr-6/feed/ 0 Comparative Analysis of Changes Made in Input Tax Credit – Part-II https://taxclick.org/type/gst/comparative-analysis-changes-made-input-tax-credit-part-ii/?utm_source=rss&utm_medium=rss&utm_campaign=comparative-analysis-changes-made-input-tax-credit-part-ii https://taxclick.org/type/gst/comparative-analysis-changes-made-input-tax-credit-part-ii/#respond Thu, 15 Dec 2016 08:50:00 +0000 https://taxclick.org/?p=3711 This update seeks to highlight the changes made in the Revised GST Law as compared to the old GST Draft with respect to provisions relating to input tax credit as follows:- A list of exclusions has been provided wherein it is specified that the credit shall not be available for motor vehicles and other conveyances ... Read more

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]]> https://taxclick.org/type/gst/comparative-analysis-changes-made-input-tax-credit-part-ii/feed/ 0 Comparative Analysis of Changes Made In GST Input Tax Credit https://taxclick.org/type/gst/comparative-analysis-changes-made-gst-input-tax-credit/?utm_source=rss&utm_medium=rss&utm_campaign=comparative-analysis-changes-made-gst-input-tax-credit https://taxclick.org/type/gst/comparative-analysis-changes-made-gst-input-tax-credit/#respond Wed, 14 Dec 2016 08:37:35 +0000 https://taxclick.org/?p=3708 This update seeks to highlight the changes made in the Revised GST Law as compared to the old GST Draft with respect to provisions relating to input tax credit as follows:- A new proviso in section 16(1) specifying the manner of credit availment in case of pipelines and telecommunication tower fixed to Earth has been ... Read more

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