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Extended Power to Provisional Attachment under GST by Finance Bill, 2021

February 20, 2021 2325 Views 0 comment Print

It is submitted that Section 83 of The Central Goods and Services Tax, Act, 2017 (“CGST Act, 2017”) is proposed to be amended via clause 106 of Finance Bill, 2021. Please note that these proposals will come into effect from a date to be notified later. It is stated that Sections 2 to 79 of […]

Limitation period to raise demand under Section 73 & 74 of CGST Act, 2017

February 19, 2021 34836 Views 1 comment Print

One of the fundamental legal principles is that an element of certainty must be brought to the legal proceedings. The law of limitation is based on this principle. Any action under any law has to be taken within the limitation period prescribed otherwise uncertainty would prevail eternally. The provisions of limitation period gain all the […]

GST: Power to summon persons to give evidence & produce documents

February 16, 2021 14904 Views 0 comment Print

Pursuant to Section 70 of CGST Act, 2017 Proper Officer(s) under the law have the power to summon any person whose attendance he considers necessary either to give evidence or to produce a document or any other thing in any inquiry.

Cross empowerment of Central & State authorities under GST

February 15, 2021 52206 Views 1 comment Print

It is stated that the GST Council in its 9th meeting held on 16.01.2017 had discussed and it is clarified that the officers of both Central tax and State tax are authorized to initiate intelligence-based enforcement action on the entire taxpayer’s base irrespective of the administrative assignment of the taxpayer to any authority. However, what […]

Relevance of Schedule II under GST after CGST (Amendment) Act, 2018

February 11, 2021 6105 Views 0 comment Print

The term ‘Supply’ mentioned in Section 7 (Scope of Supply) of the Central Goods and Service Tax Act, 2017 (CGST Act, 2017) had been amended retrospectively vide CGST (Amendment) Act, 2018 dated 30.08.2018 to exclude the activities listed in Schedule II from the inclusive definition of ‘Supply’. The clause (d) of sub-section 1 of Section […]

GST on Liquidated Damages

February 9, 2021 11505 Views 1 comment Print

It is stated that performance is the essence of any contract and hence each party to the contract, generally, incorporate their expectation in contract. Failure of expectation of one party i.e. failure of performance by other party as per the agreed terms, may prescribe damages for deficiency in the performance of contract known as ‘liquidated […]

Retrospective amendment in respect of interest on delayed payment of GST

February 7, 2021 6747 Views 0 comment Print

It is stated that proviso to sub-section (1) of Section 50 of the Central Goods and Service Tax, 2017 (CGST Act, 2017) is sought to be amended to substitute retrospectively with effect from the 1’st July, 2017, vide Clause 103 of Finance Bill, 2021, so as so as to charge interest on net cash liability […]

Expansion of scope of supply under GST by Finance Bill, 2021

February 5, 2021 2688 Views 0 comment Print

It is submitted that Section 7(1)(aa) is sought to be inserted retrospectively with effect from the 1’st July, 2017, vide Clause 99 of Finance Bill, 2021, so as to ensure levy of tax on ‘activities or transactions involving the supply of goods or services by any person, other than an individual, to its members or […]

100% restriction to avail ‘ITC’, if no GSTR-1 is filed by supplier

February 4, 2021 38559 Views 1 comment Print

It is submitted that a new clause (aa) to sub-section (2) of section 16 of The Central Goods and Services Tax, Act, 2017 (CGST Act, 2017) is being inserted in Finance Bill, 2021. Please note that these proposals will come into effect from a date to be notified later. It is stated that Sections 2 […]

No GST Audit under Finance Bill, 2021

February 3, 2021 38466 Views 0 comment Print

It is submitted that Section 35 and 44 of The Central Goods and Services Tax, Act, 2017 (CGST Act, 2017) are proposed to be amended in Finance Bill, 2021. Please note that these proposals will come into effect from a date to be notified later. It is stated that Sections 2 to 79 of Finance […]

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