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 …
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 …
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The GST regime has brought about many changes in the way businesses in India conduct their operations. One of the most significant changes is the requirement to issue various types of invoices and vouchers as prescribed by the CGST Rules. Here is an overview of the different types of invoices and vouchers that businesses must …
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 …
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 …
Continue reading “No GST Late Fee To Be Charged if GST Return Not Filed Due to GST Cancellation”
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, …
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 …
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) …
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 …
The Hon’ble Madras High Court in the case of M/s. Lenovo India Private Limited vs Assistant Commissioner of GST & Central Excise in [W.P.No.1863 of 2023 and W.M.P.No.1965 of 2023 dated February 01, 2023] has dealt with the issue of violation of principles of natural justice in the rejection of the GST refund application. In …
