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TMI BlogRetrospective GST Cancellations: A Hidden Risk That Can Shut Down Your BusinessX X X X Extracts X X X X X X X X Extracts X X X X ..... Retrospective GST Cancellations: A Hidden Risk That Can Shut Down Your Business X X X X Extracts X X X X X X X X Extracts X X X X ..... 322;𝘀𝗽𝗲𝗻𝗱𝗲𝗱. No taxable supply allowed. No tax invoices can be issued. Refund claims? 𝗡𝗼𝘁 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲. And if it gets 𝗰𝗮𝗻𝗰𝗲𝗹𝗹𝗲𝗱? 💥 𝗥𝗲𝘃𝗲 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;𝘀𝗲 𝗜𝗧𝗖 on stock and capital goods. 💥 Customers may need to 𝗿𝗲𝘃𝗲𝗿𝘀𝗲 𝗜𝗧𝗖, even after paying GST! The result? 𝗖𝗮𝘀𝗵 𝗳𝗹𝗼𝘄 𝘀𝘁𝘂𝗰𝗸. 𝗧𝗿𝘂𝘀 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20321; 𝗹𝗼𝘀𝘁. 𝗟𝗲𝗴𝗮𝗹 𝗺𝗲𝘀𝘀. 📜 𝗪𝗵𝗮𝘁 𝘁𝗵𝗲 𝗖𝗼𝘂𝗿𝘁𝘀 𝗔𝗿𝗲 𝗦𝗮𝘆𝗶𝗻𝗴 Courts across India have made it clear: ✅ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8;𝗶𝘀𝘀𝗶𝗻𝗴 𝗮 𝗳𝗲𝘄 𝗿𝗲𝘁𝘂𝗿𝗻𝘀? Not enough for retrospective cancellation. ✅ 𝗡𝗼 𝘃𝗮𝗹𝗶𝗱 𝗿𝗲𝗮𝘀𝗼𝗻 𝗴𝗶𝘃𝗲𝗻? Cancellation can't be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... backdated. ✅ 𝗡𝗼 𝗰𝗹𝗲𝗮𝗿 𝗲𝘅𝗽𝗹𝗮𝗻𝗮𝘁𝗶𝗼𝗻? Should be prospective, not retrospective. 👉 The message is simple: 𝗚𝗦𝗧 𝗮𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝗺 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ;𝘂𝘀𝘁 𝗮𝗰𝘁 𝗳𝗮𝗶𝗿𝗹𝘆, 𝗻𝗼𝘁 𝗮𝗿𝗯𝗶𝘁𝗿𝗮𝗿𝗶𝗹𝘆. ✅ 𝗛𝗼𝘄 𝘁𝗼 𝗣𝗿𝗼𝘁𝗲𝗰𝘁 𝗬𝗼𝘂𝗿 & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #120277;𝘂𝘀𝗶𝗻𝗲𝘀𝘀 If you're a 𝗿𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝗻𝘁: 🗓️ 𝗙𝗶𝗹𝗲 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 𝗼𝗻 𝘁𝗶𝗺𝗲-always. ⚙️ 𝗙𝗶 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0325; 𝗻𝗼𝗻-𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 immediately if suspended. 📩 𝗜𝗳 𝗰𝗮𝗻𝗰𝗲𝗹𝗹𝗲𝗱, 𝗮𝗽𝗽𝗹𝘆 𝗳𝗼𝗿 𝗿𝗲𝘃𝗼𝗰𝗮𝘁 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ;𝗶𝗼𝗻 𝘄𝗶𝘁𝗵𝗶𝗻 90 𝗱𝗮𝘆𝘀. ⚖️ If treated unfairly, 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵 𝘁𝗵𝗲 𝗛𝗶𝗴𝗵 𝗖𝗼𝘂𝗿𝘁. If you're a 𝗰𝘂𝘀𝘁 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20316;𝗺𝗲𝗿: 📃 𝗔𝗱𝗱 𝗰𝗹𝗮𝘂𝘀𝗲𝘀 𝗶𝗻 𝗮𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁𝘀 to recover GST liabilities. 📑 𝗣𝗮𝘆 𝗚𝗦𝗧 𝗼𝗻𝗹𝘆 after the supplier f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iles returns and shows proof.
💡 Retrospective GST cancellations can 𝗰𝗿𝗶𝗽𝗽𝗹𝗲 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗼𝘃𝗲𝗿𝗻𝗶𝗴𝗵𝘁. X X X X Extracts X X X X X X X X Extracts X X X X ..... professionals ..... X X X X Extracts X X X X X X X X Extracts X X X X
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