Articles for Transitional Credit

Rajasthan High Court Monthly Digest: December 2024
2 months, 1 week ago

Rajasthan High Court Monthly Digest: December 2024

Live Law  

Citations: 2024 LiveLaw 378 To 2024 LiveLaw 426 NOMINAL INDEX Oil and Natural Gas Corporation Limited & Anr. Rajasthan High Court Dismisses PIL Challenging Appointments Of AAGs, Law Officers; Says Executive's Domain To Decided Their Suitability Title: Shri Ishwar Prasad v the State of Rajasthan Citation: 2024 LiveLaw 381 The Rajasthan High Court dismissed a PIL filed by the national …

India Justice Court Political Vendetta Police Custody Medical College Family Pension
Tax Monthly Digest: December 2024
2 months, 3 weeks ago

Tax Monthly Digest: December 2024

Live Law  

SUPREME COURT Subsequent Purchaser Of Imported Vehicle Cannot Be Asked To Pay Customs Duty; Liability On Importer : Supreme Court Case Title: Nalin Choksey v. The Commissioner Of Customs, Kochi The Supreme Court ruled that the 'subsequent purchaser' of an imported motor car cannot be called an 'importer' to attract the liability under the Customs Act, 1962 to pay customs …

India Delhi Mumbai Supreme Court Court Customs Income Tax
Tax Weekly Round-Up: December 09 - December 15, 2024
3 months, 1 week ago

Tax Weekly Round-Up: December 09 - December 15, 2024

Live Law  

HIGH COURTS Allahabad HC Assesee Cannot File For Requisite Documents Once Plea Is Accepted And Notice Is Issued: Allahabad High Court Case Title: M/s Laxmi Telecom v. State of U.P. Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court Case Title: Dish TV India Limited v. …

Delhi Mumbai Tax Customs Income Tax Title Income
CGST Rules Prescribing Time-Bound Submission Of Declaration Under TRAN-1 To Claim Transitional Credit Not Directory But Mandatory: Rajasthan HC
3 months, 1 week ago

CGST Rules Prescribing Time-Bound Submission Of Declaration Under TRAN-1 To Claim Transitional Credit Not Directory But Mandatory: Rajasthan HC

Live Law  

The Rajasthan High Court has held that Rules prescribing the 'time and manner' for claiming transitional credit, in addition to the statutory procedure provided under Section 140 of the Central Goods and Services Tax Act 2017, are mandatory in nature. Petitioner contended that once it fulfilled the statutorily prescribed eligibility conditions enumerated under Section 140, non-compliance with Rule 117 would …

Credit Rules Rule Claim Declaration Prescribed Petitioner
CBIC Issues Guidelines For Filing/Revising TRAN-1/TRAN-2
2 years, 6 months ago

CBIC Issues Guidelines For Filing/Revising TRAN-1/TRAN-2

Live Law  

The Central Board of Indirect Taxes and Customs has issued the guidelines for filing/revising TRAN-1/TRAN-2. The applicant may file a declaration in FORM GST TRAN-1/TRAN-2 or revise an earlier filed TRAN-1/TRAN-2 duly signed or verified through electronic verification code on the common portal. As per the guidelines, the applicant shall, at the time of filing or revising the declaration in …

Tax Credit Applicant Form Common Filing Gst
If Assessee Disputes Interest Liability Then Dept. Has To Follow Procedure Laid Down u/s 73 or 74 of the CGST Act: Jharkhand High Court
2 years, 6 months ago

If Assessee Disputes Interest Liability Then Dept. Has To Follow Procedure Laid Down u/s 73 or 74 of the CGST Act: Jharkhand High Court

Live Law  

The Jharkhand High Court has held that if any assessee disputes the liability of interest under Section 50 of the CGST Act, then the department has to follow the specific procedure as stipulated under Section 73 or 74 of the CGST Act. The division bench of Justice Aparesh Kumar Singh and Justice Deepak Roshan has observed that the department failed …

Procedure Credit Interest Act Refund Itc Petitioner
Supreme Court Allows 2-Months Extra Window For Availing Transitional Credit; Directs GSTN To Open Portal For TRAN-1/TRAN-2 Forms
2 years, 7 months ago

Supreme Court Allows 2-Months Extra Window For Availing Transitional Credit; Directs GSTN To Open Portal For TRAN-1/TRAN-2 Forms

Live Law  

In a relief to several assessees who missed the statutory deadline, the Supreme Court has directed the Goods and Services Tax Network to allow a 2-month additional window from September 1, 2022 to October 31, 2022 for claiming Transitional Credit.TRAN-1 and TRAN-forms were brought to allow assessees to carry forward pre-GST credits to the GST system. In a relief to …

Supreme Court Court Gst 2022 Gstn Transitional Credit Tax Supreme
GST tweak may see the return of retrospective amendments
6 years, 8 months ago

GST tweak may see the return of retrospective amendments

Live Mint  

New Delhi: The government is likely to retrospectively amend laws governing the goods and services tax to deny transitional credit to taxpayers against cesses levied in the earlier indirect tax regime. The proposed amendment to the GST law seeks to explicitly exclude cesses levied in a pre-GST regime from allowable transitional credit that can be claimed by companies. Many companies …

Tax Gst Cbic Cesses Transitional Credit
Denial Of Transitional Credit: Gujarat-Based Firm Moves HC; Notice Issued To Centre, GST Council [Read Petition]
6 years, 11 months ago

Denial Of Transitional Credit: Gujarat-Based Firm Moves HC; Notice Issued To Centre, GST Council [Read Petition]

Live Law  

The Gujarat High Court has issued notices to the Centre, the GST Council, GST network and the state of Gujarat on a petition moved by a Vadodara-based company and its shareholder urging that certain provisions of the Gujarat GST Act and the Central GST Act be declared unconstitutional and ultra vires in as much as it denies transitional credit.A bench …

Tax Credit Gujarat Value Centre Act Tran