*_No Interest or Penalty on wrong availment of ITC: Madras High Court_*

*In the Favour of Taxpayer* *Issue* Whether proper officer was correct in imposing 100% penalty and interest u/s 50(3) of the CGST Act 2017 where the taxpayer has availed excess transition credit with an intention to utilise the same in future. Where such excess credit availed by the taxpayer remains unutilised, whether department can proceed […]

*_Recovery of Notice Pay is not a Supply under GST: AAR, Maharashtra_*

GST Solutions for Professionals

*In the Favour of Taxpayer* *Issue* Whether the notice pay recovered by the employer from the employee in lieu of not serving the notice period is a supply under Section 7 of CGST Act 2017? Whether the recovery of notice period shall be treated as consideration towards tolerating and forbearing an act of the employee? […]

Snapshot of Important Recommendations by 45th GST Council Meeting

45th GST Council Meeting held on 17th September 2021 has made crucial recommendations which will have significant impact on the taxpayer. As a consultant, it becomes necessary to be aware of these changes. Here is a snapshot of important recommendations: The concessional rate for Covid 19 related drugs shall continue to remain in force till […]

Audit by GST Department and steps Consultants must take:

After four years of GST implementation, department is gearing up to conduct the audit of taxpayers. Based upon certain risk parameters and Computer enabled techniques, department is choosing the taxpayers to be audited by them. We are sure that even your clients would have received the notices for audit or are undergoing an audit. Here […]