232 ViewsBy, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL The Goods and Services Tax (GST) cannot be expected to be completely insulated from the adverse impact of the tax cascade prevalent in any Indirect tax system. However, with a view to mitigate – if not completely eliminate – this adverse impact of the tax cascade, […]
GST on Clubs, Societies, etc. – A critical look…!
194 ViewsBy, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL The issue whether Members‟ Clubs, Housing Societies or Trade and Industry Chambers /Associations come within the scope of service tax or VAT has always been mired into the legal dispute. The “principle of mutuality” has been at the roots of this dispute, based on which the […]
Jharkhand High Court’s significant ruling on the rampant issue of GST demands
168 ViewsBy, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL Hardly 4 (four) years have passed since the introduction of the ‘Goods and Services Tax’ (‘GST’) as an Indirect Tax Policy in the country. However, even in such a short period, a number of provisions of the GST laws have remained mired into the legal […]
AN ANALYSIS OF INPUT TAX CREDIT CONCEPT UNDER GST
161 ViewsBy, M.S.VIJAYAKUMAR, ASSISTANT COMMISSIONER GST (RETD.) One of the main objective of GST was to eradicate cascading effect of taxes which existed under Central Excise, VAT and Service Tax. Under GST Input tax Credit (ITC) can be claimed irrespective of place of supplier, thus making accessibility for sales and purchase of goods easier. Amendment in Section […]
GST COUNCIL MEETINTG 01-45th AN OVER VIEW AND OUTCOME OF THE MEETING (IN DECENDING ORDER)
145 ViewsBy, M.S.VIJAYAKUMAR, ASSISTANT COMMISSIONER GST (RETD.) 45th GST council meeting Two major food delivery apps namely Zomato and Swiggy are now required to pay GST with effect from 1st January, 2022 as per the final decision and suggestion from the Fitment Committee. The time till January 2022 has been given to make changes in […]
Challenge Validity of Section 16(4) of CGST Act, When Time Extend to Claim ITC on Inward Supply Is in Force
152 ViewsBy, Mr. S. Kannan B. Com., LL.B When the GST Commissioner, extend time limit, to furnish details of inward supply, meanwhile, he himself could restrict time limit under section 16(4), is legally valid? (a) Vested Rights granted to every registered person under the CGST Act , entitled to take the credit of “ELIGIBLE” input […]
Advisory for taxpayers on Form GSTR-2B
152 ViewsSource : GSTN / News and Updates / 18.10.2021 1. Form GSTR-2B is an auto-drafted ITC statement which is generated for every normal taxpayer on the basis of the information furnished by their suppliers in their respective GSTR-1/IFF, GSTR-5 (non-resident taxable person) and GSTR-6 (input service distributor). This statement indicates availability and non-availability of […]
Article on “audit” conducted by the GST department under Section 65 of CGST Act, 2017.
231 ViewsFrom the Desk of B.S.S.Rao B.S. Seethapathi Rao, Tax Consultant, Kakinada. Dated.16.10.2021. Article on “audit” conducted by the GST department under Section 65 of CGST Act,2017. Dear Colleagues, Good day to you. I have received suggestions to prepare an article on “Audit conduct by the GST Department “under Section 65 of CGST Act, 2017. […]
Doctrine of Impossibility – A Tool of Defense in Taxation Matters
351 ViewsBy, Mr. MANOJ NAHATA, FCA, DISA (ICAI) The doctrine of “Lex non Cogit Ad impossibilia” is an age-old maxim used globally as a measure of defense in various legal matters. In our Country also various judicial forum has appreciated this maxim from time to time and provided relief. Of late, this concept has been […]
FY20-21: What is due Date for Amending GSTR-1 & Availing ITC?
187 ViewsBy CA RAJENDER ARORA, CA in Practice, Delhi The GSTR-1 and GSTR-3B for the Month of September that are to be filed in October holds an importance as it is assumed to be the last date for making entries/amendments for the previous financial year. Now the important question is that what’s the due date […]