The GST Amnesty Scheme, as outlined in notification 53/2023–CENTRAL TAX, dated 2nd November 2023, offers a final opportunity for taxable individuals to submit belated or rejected appeals. The Ministry of Finance has issued this notification through the Gazette of India, providing a special procedure for those who missed the deadline for filing appeals. The program, […]
Introduction to the latest Amendment to Section 43B As per the Amendment made by the Finance Act, 2023 of section 43B which states that : Quote “Following clause (h) shall be inserted after clause (g) of section 43B by the Finance Act, 2023, w.e.f. 1-4-2024: (h) any sum payable by the assessee to a micro […]
Rekha. S Vs Assistant Commissioner (ST) (Madras High Court) [W.P. No 35411 of 2023] The Madras High Court made a noteworthy legal decision when it addressed a writ petition that contested an order issued by the Assistant Commissioner (ST) on March 1, 2023. The petition, filed by Rekha.S, shed light on a peculiar situation where […]
Advisory: Date extension for reporting opening balance for ITC reversal In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledger namely Electronic Credit and Re-claimed Statement was introduced on the GST portal. This statement was made available to help the taxpayers in […]
Instruction No. 05/2023-GST dated 13th December 2023 Attention is invited to the Hon’ble Supreme Court’s judgment dated 19.5.2022 in the case of CC, CE & ST, Bangalore (Adj.) etc. Vs. Northern Operating Systems Private Limited (NOS) in Civil Appeal No. 2289-2293 of 2021 on the issue of nature of secondment of employees by overseas entities […]
The Central Board of Indirect Taxes and Customs (CBIC) has notified Rule 88D for the Manner of dealing with differences in Input Tax Credit (ITC) available in Form GSTR 2B and ITC availed in GSTR 3B, through the Central Goods and Services Tax (Second Amendment) Rules, 2023, with effect from 04.08.2023. As per the rule, […]