Why some GST Credits are Blocked Under GST – Section 17(5)

Apportionment of GST credit and Blocked Credits under Section 17(5) Section 17(1) to Section 17(4) deals with when Input tax credit can be claimed, while ineligible or blocked credits under GST are dealt with under Section 17(5) of the CGST act. Apportionment of credit – Section 17 Goods and Service tax Input credit is available…

Interest on Late Payment of GST: Case Law and Opinion

Interest on delayed GST Payment The legal position Recently, the GST Council has held its 39th meeting in which it has approved that the interest on GST late payment shall be payable on liability paid belatedly in cash component only, and this shall be made applicable w.e.f. Jul’2017 i.e. retrospective effect.  However, it shall be…