Home Highlights March 2020 Year 2020 This

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1. Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

2. Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

3. Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

4. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

5. Levy of purchase tax payable - purchase of turmeric - Section 12 (2) of the Tamil Nadu Value Added Tax, 2006 - There was a paradigms shift from TNGST Act, 1959 when...

6. Input Tax Credit - solar power panels procured and installed - blocked credit- When Electricity energy manufactured using the Solar Panels were supplied to TANGEDCO...

7. Quantum of transfer of CENVAT Credit to GST - transitional credit - It is obvious that as per first proviso to Section 140(1), only the credit which is admissible as...

8. Availment and setting off of Input tax credit (ITC) - purchases of demo vehicles - car dealer - The demo vehicles are purchased all along for further supply with the...

9. Seeking grant of Anticipatory Bail - input tax credit availed on the basis of bogus invoices - failure to attend before authorities when called for - they are involved...

10. Reversal of Input Tax Credit (ITC) on furnace oil and LSHS oil - the furnace oil was used in the process of manufacturing of the final product and it has to be treated...

11. Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer -...

12. Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

13. Reversal of Input Tax Credit - inputs consumed in dye intermediates (which is also a finished goods), where such goods have been destroyed in fire - - Since the said...

14. Cenvat Credit - removal of inputs from DTA to SEZ without reversing credit - For the purpose of accounting the goods on which Cenvat credit is taken, CCR has to be...

15. Profiteering - benefit of additional input tax credit had not been passed on to the home buyers or not - period from July 2017 to September, 2020 - As project was...