CA Ankit Gulgulia (Jain)

AGA, Practicing Chartered Accountants | 15+ Yrs Experience | GST | Income Tax | Corporate Laws | Valuation | Businesses

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

Haryana VAT - One Time Settlement Scheme (OTS) 2026
https://t.co/JKIuNE4021

[True market Leader @TmarketL]

Charlie Munger reflects on death, struggle, and how he found strength to move forward.

This timeless advice can help anyone facing tough times

[Joe Kent @joekent16jan19]

After much reflection, I have decided to resign from my position as Director of the National Counterterrorism Center, effective today.

I cannot in good conscience support the ongoing war in Iran. Iran posed no imminent threat to our nation, and it is clear that we started this war due to pressure from Israel and its powerful American lobby.

It has been an honor serving under @POTUS and @DNIGabbard and leading the professionals at NCTC.

May God bless America.

[Sucheta Dalal @suchetadalal]

Dear @IncomeTaxIndia @FinMinIndia @nsitharaman - careless reminders triggered by AI based automated systems will give people anxiety. 1) in days of digital fraud frequent bombardment is already bad! 2) you are sending advance tax and GST reminders to those who are tax exempt! Further scare 3) check below- emails yesterday - identical email received by individuals who are not businessmen nor have GST numbers!! This can cause a few heart attacks since the numbers are in crores! @TVMohandasPai

[Income Tax India @IncomeTaxIndia]

KIND ATTENTION TAXPAYERS!
Clarification has been issued regarding certain email communications sent under the Advance Tax e-Campaign for AY 2026–27 (FY 2025–26)
@nsitharamanoffc @officeofPCM @FinMinIndia @PIB_India

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

🚨Things that you need to complete on GST portal before 31/03/2026🚨

1. Taxpayers can opt for Composition Scheme (CMP-02) for the FY 2026-27 by accessing the GST Portal, which will be open up to March 31, 2026.

2. GTA desirous of opting to pay GST under the Forward Charge Mechanism for FY 2026-27 are required to file a declaration in Annexure V on GST portal and the last date to file is 15.03.26.

3. File LUT form for FY 2026-27 by 31.03.26 which is available on GST portal for making zero rated supplies (Export) from 1st April onwards.

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

ITC Transfer After Amalgamation Allowed Despite Different State Registrations: Gujarat HC
https://t.co/Y59nYexlkL

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

CCFS‑2026: Why the 90% ROC Fee Waiver Is Useless If Your Balance Sheet Was Never Signed
https://t.co/w9VYpA59mb

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

How Income Tax Department Used AI Data Analysis For Nationwide Survey on Restaurants for Suppression of Sales
https://t.co/2YgtqGjDGo

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

101 ways to .... 😀

[Taxology India @taxologyin]

Applied for GST Registration under Rule 14A.

GSTIN granted within a few hours.

Within 20 days, a notice is issued. GST registration suspended.

And wait till you see the reason mentioned for cancellation.

This is unbelievable. @Infosys_GSTN

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

A circular issued by the Excise and Taxation Department of Haryana GST has directed officers to conduct physical verification of all GST registrations that were automatically approved by the system.

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

#IndiaVsNewZealand #WorldCup2026

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

12/12

THE ONE-LINE TAKEAWAY.

Section 16(3) is a SCALPEL — not a sledgehammer.

It cuts only the tax component that was BOTH depreciated AND claimed as ITC.

If you never claimed the ITC → Section 16(3) has nothing to cut.
[2026:KER:14846 | WP(C) Nos. 23546/2024, 24348 & 29087/2025]

#GST #CGST #InputTaxCredit #BankingLaw #TaxLaw #IndirectTax #KeralaHighCourt #DGGI #GSTLitigation #IndianTaxLaw

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

🧵 THREAD | Kerala HC just quashed GST notices against South Indian Bank & Federal Bank.

The issue? Whether banks can claim depreciation on lapsed GST Input Tax Credit.

The answer? Yes. And the reasoning is airtight.

Read this before your next GST audit. 👇

[CA Ankit Gulgulia (Jain) @ankitgulgulia]

10/12

THE VERDICT.

[2026:KER:14846 | Justice Ziyad Rahman A.A. | 18.02.2026]

→ Show cause notices against South Indian Bank & Federal Bank: QUASHED.

→ Order-in-Original against South Indian Bank: QUASHED to the extent Section 16(3) was applied to the lapsed 50%.

→ Limitation for appeal: time during writ pendency excluded.