Post by: Renu Suresh in GST
Input Tax Credit In India, the Goods and Services Tax (GST) applies not only to final products but also to the raw materials and services used by manufacturers and suppliers to create these products. Furthermore, when these finished goods are…
Post by: poonamgandhi in GST GST in India Legal News
Reverse Charge Provisions for Builders Generally, under GST, the service provider is liable to pay the tax. However, the Reverse Charge is a system via which the service receiver is held liable to pay the tax. Notably, section 9(3); section…
Post by: poonamgandhi in GST News
Clarification on cumulative applicability of rule 36(4) The present article covers the recent clarification issued by the Central Board of Indirect Taxes and Customs, vide circular no. 142/12/2020- GST dated 9th October 2020, with regard to the applicability of rule…
Post by: poonamgandhi in GST GST in India Legal News
GSTR-2B - Auto-drafted Input Tax Credit Statement Recently, the Central Board of Indirect Taxes and Customs has launched Form GSTR-2B. Form GSTR-2B is a static auto-drafted statement which contains input tax credit details. The form will indicate availability/ non-availability of…
Post by: poonamgandhi in GST GST in India Legal
Blocked Input Tax Credit – Rule 86A The main objective of introducing the ‘Goods and Services Tax’ is a seamless flow of input tax credit at each stage. However, with the passing times, various fraudulent activities like issuance of invoices…