Can the post-supply reduction in price impact the ITC claim?
By, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL Input Tax Credit’ (‘ITC’) is the ‘soul’ of the ‘Goods and Services…
Category: Goods and Services Tax GST
IMPLICATION OF GST ON FMCG SECCTOR IN INDIA
By, M.S.VIJAYAKUMAR, ASSISTANT COMMISSIONER GST (RETD.) INTRODUCTION Fast moving consumer goods (FMCG) is the 4th largest sector in the Indian economy. There…
SCN alleging Inadmissibility of CESS as Transitional Credit set aside issued on the basis of Explanation 3 of Section 140 of CGST Act, 2017 inserted vide Section 28 of CGST Amendment Act, 2018
By, Mr.Rachit Agarwal, CA Kolkata, Email- ca.rachitagarwal@yahoo.com 2021 (11) TMI 157 – Bombay High Court in Godrej & Boyce Mfg.…
GST AND ITS IMPACT ON HOSPITALITY INDUSTRY
By, M.S.VIJAYAKUMAR, ASSISTANT COMMISSIONER GST (RETD.) INTRODUCTION Under the previous indirect tax regime, the Indian hospitality industry was liable to pay multiple…
SECTION 16(2)(C) – LEX NON COGIT AD IMPOSSIBILIA
Author : By Mr. Ashish Miglani INTRODUCTION SECTION 16(2)(C) is one of major and dangerous defining section to avail Input…
Can the department resort to the recovery action without assessment of the liability?
By, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL As discussed in previous article, the department cannot recover any amount of…
Guidelines for disallowing debit of electronic credit ledger under Rule 86A of the CGST Rules, 2017 -Reg.
Reference: CBEC-20/16/05/2021-GST/1552 dated 02.11.2021 Rule 86A of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as “the…
Validity of recovery without show cause notice
By, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL Can the department recover the tax on any pretext without issue of…
Pre-Notice Consultation: Is it a blessing or an eye wash?
By, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL If a taxpayer has not paid or short paid the tax (GST)…
“Finance Bill, 2021 receives the assent of the President: When will the GST related amendments become effective?”
By, SHRI SHAILESH P. SHETH, ADVOCATE , M/S. SPS LEGAL The Finance Bill, 2021 (‘the Bill’) presented by the Finance Minister on…