GST Compliance – Outspire Innovations

19 May 24

Understanding Recovery Proceedings Under the CGST Act: A Recent High Court Ruling

Corporate Compliance, GST Return and Compliance

In a landmark decision, the Madras High Court ruled that recovery proceedings under the CGST Act cannot be initiated before the expiry of three months from the date of the order. This judgment protects assessees' rights and ensures adherence to due process.

16 May 24

Blocking ITC by Creating a Negative Credit in the Electronic Credit Ledger

Corporate Compliance, GST Return and Compliance

The recent Telangana High Court ruling in Laxmi Fine Chem v. Assistant Commissioner reinforces that blocking input tax credit (ITC) by creating a negative balance in the electronic credit ledger is not permissible under Rule 86A of the CGST Rules, 2017. This decision highlights the importance of adhering to GST…