Introduction and Detailed Insight on One Person Company

Introduction: A one-person company (OPC) is a type of business entity where a single individual can operate a company as a separate legal entity. It is a hybrid between a sole proprietorship and a private limited company that provides the benefits of limited liability while allowing the entrepreneur to retain complete control of the business. …

Debit Note in GST and Credit Note in GST

Debit note and credit note are documents used in Goods and Services Tax (GST) to record changes in transactions. A debit note is issued by a supplier when there is an increase in the amount payable by the recipient, while a credit note is issued when there is a decrease in the amount payable. They …

Tax Invoices: Time of Issue of Invoice Under GST

The time of issue of an invoice is a crucial aspect under the GST regime as it determines the time of supply and the due date for payment of tax liability. It is essential to issue a tax invoice within the prescribed time limit, failing which penalties and interest may apply. Delayed issuance of invoices …

Cancellation of GST Registration without any determination of the amount payable is hardly sustainable

The Hon’ble Gujarat High Court recently passed a judgment in the case of M/s Devi Products v. State of Gujarat [R/Special Civil Application No. 2288 of 2023 dated February 15, 2023], setting aside the Show Cause Notice (“SCN”) and the consequential order for cancellation of GST Registration issued to the assessee. The court held that …

No GST Late Fee To Be Charged if GST Return Not Filed Due to GST Cancellation

The Calcutta High Court recently passed a judgment in M/s. Modicum Enterprise (OPC) Private Limited v. Deputy Commissioner of State Tax/Assistant Commissioner of State Tax [M.A.T No. 1828 of 2022 with I.A. No. CAN 1 of 2022 dated December 22, 2022] regarding the applicability of late fee under Section 47 of the Central Goods and …

Benefits of Filing GST Returns

Filing GST (Goods and Services Tax) returns is a necessary requirement for all registered businesses in India. GST returns are periodic statements that contain details of all transactions made by the business during a particular period. Here are the benefits of filing GST returns: In conclusion, filing GST returns is not only a legal requirement, …

GST Show Cause Notice: What Happens When an SCN or Order Lacks Specificity? Legal Validity of an Unsigned Order

The Hon’ble Delhi High Court has recently passed a judgment in the case of Marg Erp Ltd v. Commissioner of Delhi Goods and Service Tax & Anr. [W.P.(C) 872/2023 dated February 3, 2023] regarding an unsigned order passed by the Revenue Department, which has been set aside by the court. The court held that an …

Groundbreaking Ruling: Non-Reply to SCN Does Not Justify Cancellation of GST Registration

The Hon’ble Allahabad High Court, in the case of Acambis Helpline Management (P.) Ltd. v. Union of India [Writ Tax No. 185 of 2022 dated December 15, 2022], has dealt with the issue of the cancellation of the Goods and Services Tax (GST) Registration of the Petitioner (Acambis Helpline Management). The Revenue Department (the Respondent) …

IGST on Ocean Freight Services: No GST under RCM on ocean freight in case of importation on CIF basis

The issue at hand involves the imposition of Integrated Goods and Services Tax (IGST) on ocean freight services under the Reverse Charge Mechanism (RCM) in India. The Indian importer was required to discharge IGST on the freight services according to NN 8/2017 Integrated Tax (Rate) and NN 10/2017-Integrated Tax (Rate). This was a change from …

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