Demand of interest and penalty - Assessee paid excess Input Tax ...

Interest on Outstanding Dues Only: Excess Input Tax Credit Adjusted Against Output Liability Under VAT and Sales Tax Rules.

July 31, 2015

Case Laws VAT and Sales Tax HC

Demand of interest and penalty - Assessee paid excess Input Tax Credit - assessee is liable to pay interest only on the dues rising on assessment after adjusting the admissible Input Tax Credit towards its output tax liability - HC

View Source

← Previous Next →

Demand of interest and penalty - Assessee paid excess Input Tax ...

Interest on Outstanding Dues Only: Excess Input Tax Credit Adjusted Against Output Liability Under VAT and Sales Tax Rules.

July 31, 2015

Case Laws VAT and Sales Tax HC

You may also like:

Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer -...

Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...

The High Court held that u/s 54 of the Goods and Services Tax Act, 2017, when the input tax credit paid is higher than the output tax, the dealer is entitled to seek a...

Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

The High Court held that petitioners are entitled to pay 10% of the disputed GST amount as a pre-condition for filing an appeal by debiting the amount available in the...

Transitioning unutilized input tax credit under the Kerala Goods and Services Tax Act, 2017 - error in claiming input tax credit of unadjusted TDS. The High Court held...

Reversal of input tax credit - Shortage of material - Whether the input tax credit availed can be adjusted towards output in respect of goods which are not sold - held No - HC

Electronic commerce operators (ECOs) required to pay tax u/s 9(5) of CGST Act for specified services supplied through their platform are not required to reverse...

Merely because while submitting the Form No.108 the assessee/dealer submitted the claim of Input Tax Credit more than which is held to be admissible on assessment may be...

Input Tax Credit - The learned Single Judge was justified in dismissing the writ petitions as the appellant was claiming input tax credit based upon Form VAT 240 and by...

Reimbursement of the GST from the recipient of goods i.e. Indian Railways - Merely because the Petitioner uses the input tax credit which is credited to his electronic...

Advance Ruling application on maintainability - Reversal of input tax credit to extent of tax element in credit note - no agreement between parties on credit notes not...

Refund of excess tax paid - The Assessing Officer committed a serious error in providing for adjustment of the excess tax against the demands for the later years. - The...

The petitioners sought transfer of unutilized input tax credit available in their ledgers as on 02.06.2014 to the AP GST regime. The court held that Section 56 of the...

Quick Updates: