Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
The HC held that bona fide errors in GSTR-1, including a wrong tax-rate entry and incorrect mention of a credit note, can be corrected, and the taxpayer must be given an opportunity under Rule 88C to explain the mismatch before liability is fastened. The impugned order was set aside because the authority acted without calling for an explanation on the GSTR-1 and GSTR-3B discrepancy. The Court further held that denial of input tax credit for FY 2018-19 was unsustainable after insertion of section 16(5), which overrides section 16(4) for the relevant periods; the taxpayer was therefore entitled to claim the credit within the extended statutory window.
The HC held that bona fide errors in GSTR-1, including a wrong tax-rate entry and incorrect mention of a credit note, can be corrected, and the taxpayer must be given an opportunity under Rule 88C to explain the mismatch before liability is fastened. The impugned order was set aside because the authority acted without calling for an explanation on the GSTR-1 and GSTR-3B discrepancy. The Court further held that denial of input tax credit for FY 2018-19 was unsustainable after insertion of section 16(5), which overrides section 16(4) for the relevant periods; the taxpayer was therefore entitled to claim the credit within the extended statutory window.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
