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Ca Jignesh Panchal

Latest Posts by Ca Jignesh Panchal

Applicability of Section 206C(1H) TCS on GST portion

October 1, 2020 9108 Views 0 comment Print

Applicability of TCS u/s 206C(1H) on GST Component? There were doubts among taxpayers whether TCS u/s 206C(1H) is to be collected on net of GST amount or inclusive of GST. The matter has been clarified by Income Tax Department vide Circular No.17/2020 dated 29.09.2020 Para 4.6 of circular read as under: 4.6 Adjustment for sale return, […]

Practical understanding of effect of ITC in GSTR 9 for F.Y. 2018-19

August 30, 2020 3135 Views 0 comment Print

Form GSTR-9 is an annual return to be filed by all registered taxpayers whose turnover is Rs. 2 crores or more. A taxpayer shall report all outward supplies, inward supplies, taxes paid, refund claimed, demands raised and ITC availed and utilized in Form GSTR-9. It has been observed that practitioners are facing many difficulties to […]

ITC on Goods & Services taken for Construction of Immovable Property

August 28, 2020 5904 Views 1 comment Print

As per Section 16, every registered person is eligible to take ITC of goods and services intended to be used in the course or furtherance of business subject to other condition as mentioned in section 16(2) are fulfilled. Section 17(5) restrict ITC on certain good or service although intended to be used in the course […]

GST Profiteering established in Duracell Battery supply case: NAA

August 8, 2020 4209 Views 0 comment Print

D.S. Brothers Vs Durga Marketing Pvt. Ltd. (NAA) GST Profiteering of Rs. 1,57,200 established in the case of supply of Duracell Battery AA/6 by respondent. NAA asked to deposit the same in consumer welfare fund along with interest @ 18%. Facts of Case The brief facts of the case are that an application was filed […]

Revocation of GST Registration Applications

August 8, 2020 3078 Views 0 comment Print

1. Revocation of GST Registration Applications Taxpayers can now file application for revocation of cancellation of registration, again, if previous revocation application is rejected. This is in pursuance of ROD Order no. 01/2020, dated 25.06.2020. Relaxation for taxpayers for filing revocation application of cancellation of GST Registration by the officer under clause (b) or clause […]

Story of Chartered Accountant…!!

August 1, 2020 12780 Views 14 comments Print

Everybody wants to be famous, but nobody wants to do the work. You grind hard so you can play hard. At the end of the day, you put all the work in, and eventually it will pay off. It could be in a year, it could be in thirty years. Eventually, your hardwork will pay off.

Landmark Judgement by Gujarat HC on refunds on account of inverted duty structure under GST

July 31, 2020 11934 Views 2 comments Print

Gujarat High Court declared Rule 89(5) of CGST Rules ultra vires the provisions of Section 54(3) of CGST Act, which denies the refund of ‘unutilised input tax’ paid on ‘input services’ as part of ‘input tax credit’ accumulated on account of inverted duty structure.

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