Raksha Parikh
Summary of the Mechanism for verification of ITC Reversal on Post sale discounts GST Circular No 212/06/2024 states the Mechanism for verification of ITC Reversal on Post sale discounts. Where the discounts are offered by supplier after delievring goods or services, they issue tax credit notes. Section 15(3)(b)(ii) of the CGST Act,2017 specifies that, this discount … Read more
Summary of Place of Supply in case of goods sold to unregistered person The government has clarified the Place of Supply in case of goods sold to unregistered person by Circular No 209/3/2024 dated 26-06-2024. The new rule clause (ca) has been added to the IGST Act. This rule states that when goods are sold … Read more
Summary of ITC Availment for RCM Supplies from Unregistered Persons GST circular has been issued to provide clarification regarding ITC Availment for RCM Supplies from Unregistered Persons.it is related to the availment of ITC by the recipient on the tax paid by him under RCM in respect of supplies received from unregistered persons. Businesses can … Read more
This article covers all New recommendations of the 53rd GST Council Meeting 2024, held on June 22, 2024, in New Delhi. The GST Council Meeting has met 53 times since its constitution, and many important decisions were taken in this 53rd GST Council meeting. The last GST council meeting was held in New Delhi on … Read more
The goal of this article is to cover all recent GST new case laws June 2024. All latest high court judgement on gst and all latest supreme court judgments on gst issued in June 2024 have been covered in this article. All latest GST case laws of June 2024 in this article have been classified … Read more
Government has issued New GST Advisory on Filing of information by manufacturers of Pan Masala and Tobacco taxpayers dated 07-06-2024. Please refer to the notification Notification No. 04/2024 – Central Tax dated 05-01-2024 to seek information from taxpayers dealing in the goods mentioned therein. Two forms have been notified vide this notification namely GST SRM-I … Read more
Guidelines for Initiation of Recovery Proceedings Government has issued Guidelines for Initiation of Recovery Proceedings before 3 months from the date of service of demand order.Summary of the Instruction are as under: This Guidelines has been issued by CBIC , GST Policy wing, Government of India dated 30-05-2024. The Guidelines is for Intiating recovery proceedings … Read more
Summary of Notification No 11/2024 Assigning District of Kotputli-Behror to CGST Alwar Commissionerate CBIC has issued Notification No. 11/2024 Assigning the District of Kotputli-Behror to CGST Alwar Commissionerate. The notification No.02/2017- Central tax dated 30-05-2024 entails amendments to Table II, where: (i) In serial number 7, column (3), the words “Neem ka Thana and Jhunjhunu … Read more
Summary of Notification No 10/2024 Related to Territorial Jurisdiction of Commissioners CBIC has issued Notification No 10/2024 for Territorial Jurisdiction of Commissioners of Central Tax, effective from 05-08-2023 through amendment in Notification No 02/2017 -Central tax dated 29-05-2024. The Government has substituted the following: Serial No Principal Commissioner/Commissioner of Central Tax Territorial Jurisdiction 7 Alwar … Read more
GST Collection May 2024 represents 10% year-on -year growth. driven by increase in domestic transactions and slowing imports. Gross GST revenue collection records 11.3% y-o-y growth. Here the GST revenue Collection 2024 is compared with the same month of last year. That means, it is compared with GST Collection May 2023. GST Revenue Collection Amount₹ … Read more