Tax Guru

Failure of IMS in Reporting Credit Note Rejections Leading to Excess GSTR-3B Tax Liability

Explains how a credit note rejection led to excess GSTR-3B tax without IMS visibility. The key takeaway is that system adjustments can occur silently, increasing supplier ...
Tax Guru

Interplay of Section 9 And 35 of CGST Act, 2017: Compliances During Import of Goods or Services

The article highlights conflicts between Sections 9 and 35 of the CGST Act when post-supply adjustments arise under reverse charge. While imports of goods are partly clarified, services remain legally ...

GST rules for credit notes tightened to stop leakage

MUMBAI: A supplier of goods or services can issue a credit note to the buyer in several instances. Typically this happens if ...