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Date: ________

To

The Jurisdictional Officer,

______ Division,

______ Commissionerate

Dear Sir,

Sub: Reply to the notice received for reversal of Input Tax Credit

Ref: Your letter dated __________ bearing DIN ___________________

1. We are in receipt of the above-referred letter dated _______ directing us to reverse the input tax credit availed for the month of March 2019 stating that such input tax credit is irregular under Section 16(4) of CGST Act, 2017...

There are different kinds of discounts that are offered by various suppliers, being manufactures, as per their marketing/business promotion requirements. In this article we are examining one such discount being offered by the manufacturers to its distributors, which is given on a condition that it has to be passed on to the customer. In some cases it is reimbursed by the manufacturers only after the proof of passing the discount to the customer is provided.

Say for instance, a...

Section 16(4)

Similar to the restriction under the CENVAT Credit Rules, 2004, availing input tax credit (hereinafter referred to as ITC) under GST also is time-bound. The relevant provision in this regard is section 16(4) of the Central Goods and Services Tax, 2017 (hereinafter referred to as the Act) which reads as under:

“A registered person shall not be entitled to take the input tax credit in respect of any invoice or debit note for supply of goods or services or both after the...

Article 265 prohibits collection of tax except under the authority of law. Only supply as covered defined would be liable for GST. The applicability/coverage under “supply” need not be reasonable or logical. The entries for GST payable even without consideration or import of services even if it is for personal consumption and not for business indicate this.

The definition of the business appears to be all-pervasive and therefore many taxpayers/ professionals wonder what is that which...

The scheme of tax under GST for the real estate sector saw a sea change from 1^st Apr ’19. The changes though were more for the residential projects. However, there were changes brought about in some of the provisions relating to the commercial projects as well and in this article we are specifically looking into the valuation provisions that have changed for the commercial projects.

Without getting into the provisions that existed prior to 1^st Apr ’19, we would have a look at the...