by Rein Heads | Sep 5, 2024
Rollout of New Invoice Management System (IMS) Dear All, The Goods and Services Tax Network (GSTN) issued an advisory on 3 September 2024 regarding the upcoming launch of new Invoice Management System (IMS), which would be effective from 1 October 2024. This system is... Read More
by Rein Heads | Aug 28, 2024
Changes in GST Portal by the GSTN Dear All, The Goods and Services Tax Network (‘GSTN’) has issued Advisory documents on 23 August 2024 introducing a new ledger, i.e., RCM Liability/ ITC Statement (‘the RCM Statement’), and for furnishing bank account details before... Read More
by Rein Heads | Aug 8, 2024
ITC cannot be denied to a bona fide Purchaser due to non-compliance by the Seller Facts The Petitioner has challenged the validity of Section 16(2)(c) and 16(2)(d) of the Central Goods and Services Tax Act, 2017 and Assam Goods and Services Tax Act, 2017 (collectively... Read More
by Rein Heads | Jul 15, 2024
GST Clarification on Corporate Guarantee between Related Persons Dear All, The Central Board of Indirect Taxes and Customs (‘the CBIC’) issued Notification No. 12/2024-Central Tax on 10 July 2024 (‘the Notification’) and Circular No. 225/19/2024-GST has also been... Read More
by Rein Heads | Jun 28, 2024
Key GST Circulars based on Recommendations of the 53rd GST Council Meeting Dear All, The Central Board of Indirect Taxes and Customs (‘the CBIC’) issued various Circulars on 26 June 2024 (‘the Circulars’) providing clarifications with respect to aspects as recommended... Read More