Top four conditions for eligibility of GST ITC under Section 16

ByCA Akash Arora

Conditions for eligibility of GST Tax credit under Section 16 GST Input tax credit has been further classified into Eligible and Blocked Credits. Blocked Credits are dealt with under Section 17(5) while Section 16 deals with GST Input tax credit eligibility and conditions. Before we proceed onto Blocked and Eligible credit, let us first understand…

Interest on Late Payment of GST: Case Law and Opinion

ByCA Akash Arora

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…