"02 February 2021" Archive

Clause wise Analysis of GST Changes- Budget 2021

Article explains Amendment Proposed vide Union Budget 2021 in CGST Act, 2017 and IGST Act, 2017 which included Abolition of GST Audit Levy of GST on Net Interest etc. I. AMENDMENTS IN THE CGST ACT, 2017: 1. A new clause (aa) in sub-section (1) of Section 7 of the CGST Act is being inserted, retrospectively […]...

Read More

Goods & Services Tax Budget Proposals 2021-22

Introduction to Budget 2021 – 22 The Goods and Services Tax (GST) has completed around 3 years of its implementation. GST has been recently known for increasing compliance burden on taxpayers in view of simplifying tax systems and making it online. Further, GST was introduced with a motive to remove cascading effect by introducing a...

Read More

Budget 2021 – An eye on restructuring

No one would like to go back in time to a period that had economic challenges. The positive actions of the Government of India amidst the pandemic, such as the launch of three AtmaNirbhar Bharat packages, COVID-19 vaccination drives, amongst others, have rejuvenated the Indian economy. This has given many new hope for a better […]...

Read More

Budget 2021- Key Direct Tax amendments and Analysis

Aatma-Nirbhar Bharat ka Aatmanirbhar Budget The Union budget 2021 comes on the backdrop of an unprecedented pandemic, which has changed the economic landscape materially due to COVID-19. It is expected to come with announcements which are in line with the Indian government’s focus for a self-reliant economy. As we all aware that FM anno...

Read More

Key Highlights of Changes under GST – Union Budget 2021

This document summarises the changes made/ proposed under the GST Law – Section wise in comparative manner for easy digest. GST Amendments carried out in the Finance Bill, 2021 will come into effect from the date when the same will be notified, as far as possible, concurrently with the corresponding amendments to the similar Acts [&hell...

Read More

Key Highlights of Union Budget 2021 – Income Tax Changes

This document summarises the key highlights of the changes vide Union Budget 2021 related to Income Tax for easy digest....

Read More

Key Changes Under Customs & Excise- Union Budget 2021

Union Budget 2021 – Changes Under The Customs And Excise- This document summarises the Key changes made/ proposed under the Customs and Excise – Section wise in comparative manner for easy digest. CUSTOMS Unless otherwise stated, all changes in rate of Customs duty take effect from the midnight of 1st February/ 2nd February 2021. ...

Read More

15 FAQs on Rule 86B – Mandatory 1% cash payment on output GST

Rule 86B has undergone severe criticism from various stakeholders ever since the same has been notified by the Government. It puts a restriction on the amount which can be used from the electronic credit ledger while making the payment of output taxes. Through this article, the author purports to analyze the provisions and its practical [...

Read More

BUDGET-2021 from GST perspective

Finance Bill 2021 has proposed some amendments in CGST & IGST Act,2017. In this article, I would like to discuss these proposed amendments and it’s impact on day to day business/ procedure....

Read More

Blocking of ITC under GST: Safeguard

Rule 86A has been inserted in CGST Rules, 2017 through a notification dated 26-12-2019. Without doing the academic exercise that whether a rule through notification is sustainable without amendment made in the main statute, this paper is a humble attempt to examine the scope of the aforesaid rules for the purpose of blocking of the input ...

Read More

Search Posts by Date

February 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728