The High Court set aside demand orders after confirming that the Input Tax Credit had been reversed prior to issuance of the show cause notice. It held that this fact required reconsideration by the ...

Countries implementing value-added tax with credit mechanisms are grappling with the global menace of input tax credit frauds. In an attempt to curb this menace, the GST law introduced various ...

The government has recently made some changes in the GST return filing system. The return forms proposed earlier called the RET forms with ANX (annexures) have been shelved. The existing GST returns ...

The cascading effect that lingered under excise, VAT and service tax can be removed in Goods and Services Tax (GST) by allowing an uninterrupted and seamless chain of Input Tax Credit (ITC). ITC is ...

As GST is a single tax levied across India right from the manufacture of goods/ services till it reaches the end customer, the chain does not get broken and everybody is able to take benefit of the ...

Input Tax Credit is one of the dearests of all the GST domains. ITC is important to keep the cash-flow in proper order and to make the capital available for the business processes. Though ITC is a ...

GST reconciliation mainly includes matching the data uploaded by the traders or sellers with those of the recipient's purchase data. This principally includes comparing the GSTR-2A/2B auto-populated ...