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Kavyashree V

Latest Posts by Kavyashree V

Curious case of taxability of petroleum products

June 7, 2022 10467 Views 0 comment Print

Dive into the complexities of taxing petroleum products as we unravel the layers of multiple levies, from raw oil tax to excise duty. Discover why petrol and diesel remain outside the GST ambit, with taxes totaling nearly 69%. Explore the impact on retailers, revealing hidden expenses incurred due to non-eligibility of VAT credit. Delve into the categorization and disclosure challenges under GST, shedding light on the distinction between non-GST and non-taxable supplies.

Liquidated damages – Liable to GST?

December 3, 2020 4503 Views 4 comments Print

As the world fights the COVID-19 pandemic, businesses struggle to overcome the economic slowdown post lifting lockdown. Businesses find it difficult to meet the contractual obligations which results in non-performance or delay in performance of obligations. As a result of such defaults, businesses incur huge liability towards compensation or damages based on the terms of […]

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