1. Purpose of the Gujarat Tax Amnesty Scheme, 2019 More than 20,000 cases are pending at various levels under the laws sought to be covered under the scheme. Hence a need was felt to ensure the recovery of the tax, grant relief to the trade and reduce the cost of administration. Therefore the present scheme […]
1. A businessmen would come across scenarios wherein they would have received supplies from the State’s where they are not registered and the place of supply would also happen to be the said State and not the State where he is registered. As an example, a businessmen registered in Gujarat would book a hotel in […]
Via Press Release dated 03rd July, 2019 certain further clarifications have been issued pertaining to the Annual Return and the Reconciliation Statement. Said clarifications along with our comments in brief are given hereinafter: a) Payment of any unpaid tax: Section 73 of the CGST Act provides a unique opportunity of self – correction to all taxpayers […]
1. Circular No. 105/24/2019-GST dt. 28th June, 2019 has been issued dealing with certain doubts related to the treatment of post-sale discounts under GST. In the present article we seek to examine the same in light of some settled principles. True nature of post-sale discounts ?? 2. The Circular provides for the examination of the […]
1. Verification of TRAN-I or TRAN-II forms have been or will be carried out by the department. During the process they may come across cases where allegedly wrong transitional credits could have been claimed. One striking example can be the transitional credits in respect of cess (KKC) which was permitted prior to retrospective amendment to […]
1. Recently print as well as online media has written a lot about arrests under GST. The sudden surge in the interest stems from the fact that the Supreme Court has refused to interfere with a decision of a High Court which did not prevent the arrest of the directors/employees (concerned with the alleged act […]
1. Let us consider a scenario wherein a commercial property devolved upon Mrs. A, aged 65 years, on account of death of her husband Mr. A. The property was already rented out by Mr. A to a Bank. As per the terms of agreement between Mr. A and Bank, the property would remain to be […]
1. Everyone, especially in Gujarat, loves Fryums. However on a lighter note it seems that the advance ruling authorities in Gujarat do not love it so much so as to merit its classification as exempted goods. They have held (re: Sonal Product- Advance Ruling No. GUJ/GAAR/R/2019/03) that fryums shall be subjected to tax at the […]
Indirect taxation and the Real Estate Sector have an unusual bond right from the earlier days when the tax on the said sector was imposed for the first time. The bond is unusual due to the fact that it involves the supply of goods, services as well as immovable property.
Interest Whether on Gross or Net GST Dues?? HC Ruling and Additional Contentions 1. Recently, Telangana High Court in the case of Megha Engineering & Infrastructures Ltd. v. The Commissioner of Central Tax and others (Writ Petition No. 44517 of 2018) held that in the event of the delayed filing of the return, the interest […]
