Input Tax Credit

19 Dec 24

Supreme Court Ruling on Input Tax Credit: A Landmark Interpretation

The Supreme Court’s judgment in Chief Commissioner of Central Goods and Service Tax & Ors. v/s M/s Safari Retreats Private Ltd. & Ors. (Civil Appeal No. 2948 of 2023, dated October 3, 2024) has brought significant clarity and broader interpretation to Section 17(5)(d) of the CGST Act. This decision is…

15 Jul 23

Legal Heirs of Sole Proprietor Gets Input Tax Credit under GST on Death of Sole Proprietor

When a business is transferred to another person for any reason—including the death of the proprietor—the transferee or successor, as the case may be, shall be required to be registered with effect from the date of such transfer or succession. The applicant must specify “death of single owner” as the cause…