The recent ruling made by the Supreme Court on October 3, 2024, sets a new precedent with respect to the Input Tax Credit (ITC) claims as provided for in the Central Goods and Services Tax Act, particularly in Section 17(5)(d).

In M/S Anil Rice Mill vs State of U.P., the Allahabad HC ruled ITC claims invalid without proof of genuine transactions and physical movement of goods.

Legal Insights into the Case of M/s. Shobika Impex Pvt. Ltd. vs. Commissioner of GST & Central Excise

The goods and services tax (GST) system in India through the GST network (GSTN) is changing in a big way with the introduction of the invoice management system (IMS). This is an advanced system, which will start operating on October 1, 2024 .

The ruling made by the Rajasthan High Court is significant; it overturned the decision of the Appellate Authority, which had denied a refund claim under the 'Inverted Tax Structure' based on a circular. This case heavily depended on the authority's reliance on a circular that restricted the simplicity of refunds, which led to an appeal by the taxpayer.

In the case of National Plasto Moulding Vs. State of Assam & Ors., the Gauhati High Court addressed whether purchasing dealers can be denied Input Tax Credit (ITC) if the selling dealer fails to deposit the collected tax.

First Container Vessel at Vizhinjam Port: Transforming India's Maritime Future with APSEZ's Sustainable Development and Strategic Location

Justice Sanjay Kumar Mishra appointed as the first President of the GST Appellate Tribunal (GSTAT), strengthening GST dispute resolution in India.

ICICI Bank and MY GST Refund have partnered to offer Indian businesses exclusive benefits, including a 10% discount on GST services, a free first GST notice reply, and access to a complimentary GST refund calculator.

The Delhi High Court has made a significant ruling that could have broad implications. They have determined that refusing a taxpayer's Input Tax Credit (ITC) refund solely based on unauthenticated documents is considered "procedurally unfair".

Explore whether senior citizens are exempt from advance tax in India. Understand the nuances, pension income relief, and key considerations. Stay informed with our guide.

India achieves a record 8.18 crore Income Tax Returns filed by December 31, 2023, marking a 9% increase over the previous year