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The GST framework in India is designed to facilitate seamless input tax credit (ITC) utilization while ensuring proper tax compliance. Section 49B of the CGST Act, 2017, inserted through the CGST (Amendment) Act, 2018, provides the order and manner of utilization of ITC for taxpayers. It grants the government the authority to determine how ITC […]

Input Tax Credit (ITC) is a crucial element of the GST framework in India, enabling businesses to offset their tax liabilities. However, to ensure proper utilization and prevent revenue leakage, specific conditions have been imposed under the CGST Act. One such provision is Section 49A, which governs the order of ITC utilization. This article provides

The GST regime in India has streamlined taxation and introduced provisions for refunds in specific cases. Section 55 of the CGST Act, 2017, provides a crucial mechanism for certain specialized agencies to claim refunds on the taxes paid. This article delves into the eligibility, conditions, and procedural aspects of availing refunds under this provision. What

Section 49 of the CGST Act, 2017, lays down the provisions regarding the payment of tax, interest, penalties, fees, and other amounts. It details the procedures for utilizing the electronic cash ledger and electronic credit ledger, ensuring transparency and ease in tax compliance for registered taxpayers. Modes of Payment Taxpayers can deposit amounts towards tax,

GST compliance can be complex, requiring businesses to manage various filings and procedural requirements. To facilitate compliance, the Goods and Services Tax Practitioners (GSTPs) play a crucial role. Section 48 of the CGST Act, 2017, provides the legal framework for GSTPs, including their eligibility, functions, and responsibilities. This article delves into the provisions of Section 48

The GST regime mandates timely compliance by registered taxpayers. One such compliance requirement is the timely filing of GST returns. Failure to do so attracts penalties, including late fees. Section 47 of the CGST Act, 2017, specifically deals with the levy of late fees for delayed filing of GST returns. This article provides an in-depth

Filing GST returns on time is crucial for compliance with the GST framework in India. To ensure timely filing, Section 46 of the CGST Act empowers tax authorities to issue notices to registered taxpayers who fail to furnish their returns under Section 39, Section 44, or Section 45 of the CGST Act. In this blog,

Under the GST regime in India, compliance with return filing requirements is crucial for registered taxpayers. One such mandatory filing is the Final Return, governed by Section 45 of the CGST Act, 2017. This provision ensures that businesses winding up their GST registration properly disclose all outstanding tax liabilities. Understanding Section 45 of the CGST

Section 43A of the CGST Act laid down the procedure for furnishing returns and availing Input Tax Credit (ITC). However, this section was omitted with effect from 1st October 2022, vide Notification No. 18/2022 – CT dated 28.09.2022, through Section 107 of the Finance Act, 2022. Despite its omission, understanding its provisions is crucial to

Section 43 of the CGST Act was originally introduced to regulate the matching, reversal, and reclaim of reduction in output tax liability. However, this section was omitted with effect from October 1, 2022, through Notification No. 18/2022 – CT dated 28.09.2022, as per Section 107 of the Finance Act 2022. In this article, we will