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"Invoice Cancelled? Tax Still Due." - Madras HC on Why Cancelling Invoices Won't Magically Erase GST Liability

Can you escape GST liability simply by cancelling an invoice after a deal falls through? The Madras High Court's decision in Sudhan VFX v. Superintendent offers a crisp-if uncomfortable-answer: No. If you've raised an invoice and declared the corresponding outward supply in GSTR-1, the tax liability can arise even if you never receive payment. A unilateral, after-the-fact "invoice cancellation" is not a silver bullet...... Read More

Rule 88C & Rule 88D - A Comprehensive Discussion

The differences between the liabilities declared in GSTR-1 and actual tax paid in GSTR-3B and the differences between ITC available as per GSTR-2B & ITC claimed in GSTR-3B are two core issues under GST. For handling such issues, the Central Government on the recommendations of the GST Council, had issued Rule 88C & 88D under CGST. In this article we will discuss about these rules, their implications and duties of taxpayers in this regard..................... Read More