Input Tax Credit Denied Over Doubts About Transaction Authenticity
Ecom Gill Coffee Trading Pvt Ltd vs Karnataka VAT Authorities: Supreme Court Decision Key Takeaways from Supreme Court Judgment The case involves a dispute between the State and several purchasing dealers who claimed input tax credit (ITC) on purchases made from certain dealers. Assessing Officer denied Input Tax Credit (ITC) to certain purchasing dealers due […]
GST NUMBER TO PROFESSIONALS WORKING FROM HOME
Can GST registration be obtained on a residential address? – RAJYA SABHA UNSTARRED QUESTION No. 1488 ANSWERED ON 14/03/2023 The Central Goods & Services Tax Act, 2017 allows professionals, including architects, management consultants, and others, to obtain GST registration on their residential address. Because of the COVID-19 pandemic, many senior professionals and consultants have begun […]
HSN Code Reporting in e-Invoice on IRPs Portal
It is now mandatory for taxpayers to report a minimum of six-digit valid HSN code for their outward supplies having AATO of more than 5 crores in any previous financial year. (As per notification no. 78/2020 – Central Tax dated 15th October 2020) This requirement has already been implemented in the GST system, and are […]
Advisory for the taxpayer wishing to register as “One Person Company” in GST
As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member. Some issues have been raised by the persons registering as ‘One Person Company’ while they take GST registration. Upon analysis, it has been noticed that the option of choosing […]
GSTN launches e-invoice registration services with private IRPs
In another step towards further digitization of the business process flow, GSTN has launched the e-invoice registration services through multiple private IRPs at the recommendation of the GST Council. Four private companies viz. ClearTax, Cygnet, E&Y and IRIS Business Ltd were empaneled by GSTN for providing these e-invoice registration services to all GST taxpayers of […]