A cheque bounce case in India is generally filed under Section 138 of the Negotiable Instruments Act, 1881 when a cheque issued towards a legally enforceable debt or liability is dishonoured due to insufficiency of funds, exceeds arrangement, account closure, payment stopped or other legally recognised reasons. The payee must issue a written demand notice...
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ITC DENIED -Input Tax Credit cannot be denied mechanically to a bona fide buyer merely because the supplier failed to pay GST or failed to reflect invoices in GSTR-1/GSTR-2A, if the buyer has fulfilled statutory conditions such as possession of tax invoice, receipt of goods or services, payment to supplier through banking channels, filing of...
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