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VAT - Highlights / Catch Notes

Home Highlights April 2018 Year 2018 This

Demand of interest - additional demand of tax due to denial of ...

VAT and Sales Tax

April 9, 2018

Demand of interest - additional demand of tax due to denial of ITC where credit notes issued by the party - The law does not envisage assessee to predict final assessment and expecting to pay tax on that basis to avoid the liability to pay interest - demand of interest and recovery thereof is unsustainable in law - HC

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  1. Blocked input tax credit - issuance of credit notes by the supplier - denial of Input Tax Credit with regard to certain inputs - Both parties presented their arguments,...

  2. CENVAT Credit - Service rendered or not - recovery of service tax / credit from the Input Service Distributor (‘ISD’) - Duty demand consequent to denial of credit cannot...

  3. Denial of CENVAT Credit - demand of service tax under the category of renting of immovable property - construction services - CENVAT credit on input services which are...

  4. Reversal of Input Tax credit / ITC - financial credit note is issued for part amount of invoice - the financial credit note shall not be used as a conduit to transfer...

  5. 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 -...

  6. CENVAT Credit - Input service distributor (ISD) - distribution of service tax credit to the Job worker not allowed - demand with interest and penalty confirmed - AT

  7. Levy of interest on service tax demand when the assessee has sufficient balance in CENVAT Credit - delayed payment of service tax through cenvat credit - demand of...

  8. Cenvat Credit - Input services - certain documents called "debit notes" issued by the service provider - All the details of the service provided is recorded in the debit...

  9. Reversal of Input Tax Credit - fictitious suppliers/firms - fake invoices - demand to remit the amount availed as input tax credit at the stage of summons itself without...

  10. Levy of Interest - whether there is any shortfall in payment of tax / GST - input tax credit - Let the authorities examine the issue and the benefits accorded to the...

 

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