"Kushal has completed his Chartered Accountancy in May 2011 with extensive experience in Goods and Service Tax, Risk Advisory Services, Internal Audits, ERP Implementation, Statutory Audits and statutory compliance management. He has completed his graduation from the Garware College of Commerce, Pune, India with majors in Taxation and Costing. He is Qualified Certified Information Systems Auditor (CISA) since Jan- 17, an Independent Director. Areas of Exposure: He has been associated with a Chartered Accountancy firm and has gained exposure to the following areas: 1) Goods and Service Tax 2) Internal Audit, IFC Implementation & Testing 3) System Audits & SOP Implementation 4) Statutory Audits of Company and Banks 5) ERP Implementation and Due Diligence 6) Tax Audits "
Analysis of procedure of provisional attachment of property under section 83 GST Act under section 83 read with Rule 159 of Central Goods and Services Tax Rules, 2017 (CGST Rules) talks about the provisional attachment of property of taxable person to protect the interest of revenue in case of pendency of any proceeding under following […]
Back-to-back contracts are not current phenomena but an old trend which was also in the picture and a matter of discussion from VAT & Service Tax Era where there was huge debate and subsequently resulted in various litigation before Entry No. 29 (h) of Mega Exemption Notification No. 25/2012 dated 20.06.2012 provided exemption to sub-contractor […]
Interest to be considered in Aggregate Turnover or not? I think this could be a question of many and many of us might have taken a simple stand GST is not applicable on Interest received on Fixed Deposits, Interest on PPF, or Interest on Savings Banks therefore let’s not consider it while calculating aggregate turnover […]
‘Advance ruling’ means a decision provided by the Authority or the Appellate Authority to an applicant on matters or on questions specified in sub-section (2) of section 97 or subsection (1) of section 100 of the CGST Act, 2017, in relation to the supply of goods or services or both being undertaken or proposed to […]
Accordingly, since all the Petitioners have filed or attempted to file Form TRAN-1 within the aforesaid period of three years they shall be entitled to avail the Input Tax Credit accruing to them. They are thus, permitted to file relevant TRAN-1 Form on or before 30.06.2020. Respondents are directed to either open the online portal so as to enable the Petitioners to file declaration TRAN-1 electronically or to accept the same manually.
GST on transactions under Real Estate Sector Outright Purchase of Land/Plots without tenants: – Situation where the promoter/builder purchase the plot/land on which they wish to construct their schemes, but this situation is very rare as this involves lot of working capital blocked as the cost of land is huge. Sr.no. Particulars Seller Promoter/Builder 1 […]
Article explains Classification of Transactions under Real Estate for GST, Whether it is Supply of goods, Whether it is Supply of Service, Transitional Transaction under Real Estate, Rate of Tax on Transactions under Real Estate – Up to 31.03.2019, Rate of Tax after 01.04.2019 on Transactions under Real Estate, Input Tax Credit prior to 31.03.2019, […]
GST Department has issued nearly 20 Notification on 21st March 2020 and 23rd March 2020. Details, explanations and impact of all these Notifications been summarised precisely herein. Notifications relates special GST procedure for taxpayers in Dadra and Nagar Haveli and Daman and Diu, special procedure for corporate debtors undergoing the corporate insolvency resolution process, waiver […]
