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GST Amnesty Scheme for waiver of interest and penalty applicable from 01.11.2024 : CBIC
GST Amnesty Scheme 2024 Notified : New Section 128A for interest and penalty waiver effective from 01.11.2024
As per Section 146 of Finance (No. 2) Act, 2024 whereby Section 128A have been inserted after Section 128 of the CGST Act, 2017 according to which the GST Amnesty Scheme 2024 for waiver of interest and penalty was announced. Now as per Notification dated 27.09.2024, the GST Amnesty Scheme shall be effective from 01.11.2024.
Read MoreHC Madras - Quashed suspension of State Tax Officer for sanctioning export refund which later found fraudulent
In case of S.Doctor Viswanathan, State Tax Officer, Chennai Central Division Vs State of Tamil Nadu & Commissioner of Commercial Taxes, Chennai ( W.P. No. 33639 of 2023 ) Hon'ble High Court of Madras vide order dated 7.8.2024 has quashed suspension of S.Doctor Viswanathan, State Tax Officer who sanctioned export refund during March, 2023 which later found fraudulent or fake party who applied refund without exporting of goods.
Read MoreThe Hon'ble High Court of Himachal Pradesh, vide Order No. CMPMO No. 273 of 2024 dated 17.09.2024 in case of M/s Kundlas Loh Udyog versus State of H.P. & Anr, quashed the Summons dated 16.03.2024 issued by the DGGST, Rohtak as well as ITC blocked by the DGGST since similar proceedings already initiated by State GST of H.P.
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The Finance Ministry issued a Notification on 31.07.2024 whereby the Government formed nationwide GST Appellate Tribunals (GSTAT). Vide this Notification, the Govt. has formed principal bench of GSTAT at New Delhi and formed 30 benches in various states as per the details hereinafter.
- The benches of each State / Union Territory are as follows :-
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GST Council recommends waiving interest and penalties for demand notices issued under Section 73 of the CGST Act (i.e. the cases not involving fraud, suppression or wilful misstatement, etc.) for the fiscal years 2017-18, 2018-19 and 2019-20, if the full tax demanded is paid up to 31.03.2025.
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Read MoreThe Taxpayers who could not file their appeals of tax disputes in time till 31.03.2023 may now file their such appeals till 31.01.2024, as per Notification No. 53/2023-CT dated 02.11.2023 whereby the delay have been condoned for such appeals.
Moreover, the Taxpayer has to pay 12.5% (25% of this amount must be debited from Electronic Cash Ledger) of the disputed amount towards pre-deposit for filing appeals.
Read MoreAs a measure of trade facilitation to keep the Officer Interface available on permanent basis to resolve such errors on payment of specified fee by the exporter.
The exporter may avail the facility of correction of Invoice mismatch errors (error code SB-005) in respect of all past shipping bills, irrespective of its date of filling, by following the procedure as provided in the above Circulars, subject to payment of Rs.1,000/- as fee towards such rendering of service by Customs Officers for correlation and verification of the claim.
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This article analyses as to whether the GST department can issue Show Cause Notice for recovery of erroneous or excess transitional credit taken by the GST registrant through GST TRAN-1 / TRAN-2 form.
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Read MoreRedundant penal provisions of GST Law under various Sections of CGST Act, 2017 (Sections 73, 74, 122, 129, 130) :-
As GST has completed more than 3 years of proclaiming “Ease of Doing Business” whereas all aware that on many counts this proverb failed and instead one may appropriately call it “Very Hard to Do Business”.
In this article, we would analyse the different penal provisions of CGST Act, 2017 (hereinafter referred to as “the Act”) covered by Sections 73, 74, 122, 129 & 130 and suggestions to the GST Council for better compliance and "Ease of Doing Business" in real sense.
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Read MoreRecently Hon’ble High Court of Gujarat has passed an Order dated 24.07.2020 in case of VKC Footsteps India Pvt Ltd Vs UoI wherein it has allowed input services GST refund to taxpayers which accumulated due to inverted tax structure.
However, on similar issue, Hon’ble High Court of Madras has passed an Order dated 21.09.2020 in case of Tvl Transtonnelstroy Afcons Joint Venture & Five Others Vs UoI wherein it has disallowed input services GST refund to taxpayers which accumulated due to inverted tax structure.
On comparing above both decisions, it implies that both the above decisions are conflicting decisions on same issue and therefore a question arises in the mind of taxpayers as to which decision is applicable to which state.
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There’s some confusion arose after insertion of sub-rule (4) to Rule 36 of CGST Rules-2017 w.e.f. 09.10.2019 on assuming that the excess 10% ITC (taken in GSTR-3B than ITC appearing in its GSTR-2A) is not liable to be reversed even if not shown in GSTR-2A but documents are available. However, this is a wrong assumption as this is related to taking ITC in GSTR-3B whereas it is a well known fact that the provisions of GST Acts mandates matching of GST at each level, i.e. Supplier as well as Recipient level, till goods or services reaches to consumer (URP).
In such scenario, the Sections 2(62), 2(63), 16 & 42 of CGST Act-2017 read with Rule 36 of CGST Rules-2017 clearly implies that the ITC taken by the recipient shall match with its GSTR-2A and if there’s any mismatch then such mismatched amount needs to be reversed along with interest in its GSTR-3B return at Table 3.1 by adding to its output tax liabilities.
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As per Sr. No.21 of Notification No.12/2017-CT(Rate) dated 28.6.17 GST is exempted for following cases of GTA :-
1. Where transportation freight amount of a consignment in a single carriage is up to Rs.1500 (means different consignors/suppliers sends their consignments in a vehicle of a transporter).
2. Where transportation freight amount of all goods of single consignee is up to Rs.750 (means full load of vehicle booked for single consignee).
3. Agriculture produce, Milk, Salt, Food grain including Floor, Pulses, Rice, Organic manure, Newspaper/ Magazines registered with Registrar of Newspapers, Relief materials meant for victims of natural or man-made disasters, calamities, accidents or mishap; Defense or Military equipment.
Read MoreCESTAT held that Gold, Silver cannot be confiscated if purchase bill furnished by the person.
the CESTAT, Kolkata, the Tribunal set aside the OIO & OIA & upheld that Gold & Silver cannot be confiscated if purchase bill is furnished by the party.
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Whether ITC be reversed if goods were lost/destroyed during transportation before reaching recipient
Whether ITC reversal is required if goods lost / stolen / destroyed during transit?
Read MoreA trader or dealer, while applying for GST registration, need to choose either Regular GST Registration, or Composition GST registration and this article is discussing which is beneficial.