Fake invoice and departmental clarification thereof

Fake invoice and departmental clarification thereof A ‘fake invoice’ is specifically not defined under the Goods and Services Tax (GST) law. However, as and when the registered person issues a tax invoice, under GST, without actual supply of goods or…

New provision relating to Restricted Input Tax Credit

New Provision Relating to Restricted Input Tax Credit Seamless flow of ‘Input Tax Credit’ is the main aim behind the implementation of Goods and Services Tax (GST). However, since its inception i.e. 1st July 2017, GST officials have come across…

Mandatory reconciliation of Form GSTR-3B and Form GSTR-2B

Mandatory Reconciliation of Form GSTR-3B and Form GSTR-2B Under GST, the introduction of both auto-generated statements in Form GSTR-2A and thereafter Form GSTR-2B created huge havoc with regard to which form to be considered as a base for availment of…

New input tax credit availment condition imposed vide Finance Act, 2022

New input tax credit availment condition imposed vide Finance Act, 2022 The registered taxable person, in order to avail of the input tax credit, needs to satisfy several conditions as laid down under provisions of section 16(2) of the Central…

GST Input Tax Credit

GST Input Tax Credit GST Input Tax Credit mechanism helps in avoiding double taxation and the cascading effect of taxes. The purpose of this article is to explore its applicability in the various facets of the Goods and Services Tax.…

GST Input Tax Credit FAQs

GST Input Tax Credit FAQs IndiaFilings has helped thousands of business file their GST returns since the rollout of GST. In this article, we have compiled some of the FAQs we received from Entrepreneurs on GST input tax credit. Want…