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Digital GST Ready Reckoner (Book) by Taxguru Edu

We are happy to announce the launch of our Digital GST Ready Reckoner-2020. With this transformation we strive towards bringing flexibility in reading and understanding the law. This Digital GST Ready Reckoner is beyond just a PDF version to our paper book. It has some distinct benefits and offers versatility in comparison to the printed version. It […]

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Hugger Mugger of net ITC in case of Inverted Duty Structure

Refunds have always been an integral part of the Indirect tax regime. In the era Service Tax regime, refunds were granted in the case of export of service. However, with the inception of GST and introduction of multiple tax rates, refunds arose on account of inverted duty structure. Inverted duty structure means a scenario wherein […]

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Advance Ruling | Power to grant exemption from tax | CGST Act 2017

Advance Ruling| Section 11 | CGST Act 2017 |Entry No. 74| Power to grant exemption from tax Overview of Sec 11 : Power to gran exemption from tax  Central or the State Governments are empowered to  grant exemptions from GST. Conditions are: 1. Exemption should be in public interest 2. By way of issue of […]

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Are Large Taxpayers now Quarantined Under GST?

Krishna, many taxpayers are getting emails, stating their aggregate turnover is more than Rs. 5 Cr. during FY 2019-20, or not, considering returns of FY 2019-20 filed upto 25th July, 2020. What is this email about?

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Inverted Duty Structure Refund : Rule 89(5) held to be Ultra Vires

Recently in the case of VKC Footsteps vs. Union of India [2020-TIOL-1273-HC-AHM-GST] the Gujarat High court has held that Rule 89(5) of the CGST Rules, 2017 is Ultra Vires as it is inconsistent of Section 54(3) of the Parent CGST Act, 2017.The issue examined here was whether it was correct to deny the Refund of […]

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VKC Footsteps India Pvt Ltd vs. UOI- Gujarat HC Judgment Analysis

Analysis of the Landmark Judgment Passed by the Hon’ble Gujarat High Court in the case of VKC Footsteps India Pvt Ltd vs. Union of India & Others dated 24.07.2020 Background & Provisions of the GST Law In GST, Refund of Unutilised Input Tax Credit is dealt with in Section 54(3) of the CGST Act, 2017. […]

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Blocked ITC under GST – Section 17(5)

A brief list where input tax credit under GST is not available (Section 17(5)) There are some cases where there is no input available under GST to the applicant and there are some exceptions to this, hence to know more about this please read carefully the whole article. 1. Motor Vehicle and other conveyance / […]

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Functionality to File Revocation Application- Cancelled GST Registration

1. Statutory Provision:-As per sec 30 of CGST Acts 2017, a registered person, whose registration is cancelled by the proper officer on his own motion,may apply to such officer for revocation of cancellation of the registration within thirty days from the date of service of the cancellation order. The detailed provisions have been brought out […]

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Valuation under GST Regime | Section 15 | CGST Act 2017

Section 15 of the CGST Act provides common provisions for determining the value of goods and services. It provides the mechanism for determining the value of a supply which is made between unrelated persons and when price and only the price is the sole consideration of the supply. When value cannot be determined under section 15, the same is determined using Chapter IV: Determination of Value of Supply of CGST Rules.

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Refund of ‘Input Services’ along with Inputs under Inverted Duty Structure

It has been almost an eternity since the manufacturing sector is suffering from being burdened with higher rate of taxes paid on availed services which are used significantly for supply of goods with lower rate of taxes. Much to the relief of these manufacturers now, the High Court of Gujarat in the case of VKC […]

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