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Ca Naresh Gupta

Latest Posts by Ca Naresh Gupta

TDS on interest for late payment for purchase of goods/services

May 19, 2021 49704 Views 4 comments Print

Applicability of TDS on the interest for delayed/late payment of consideration towards purchase of goods / services The TDS applicability on payment of interest would require examination under section 194A of the Act (dealing with the TDS on interest payments, other than interest on securities). The relevant provisions of section 194A of the Act are […]

Canteen in Factories- GST ITC and GST Liability

December 8, 2020 11331 Views 5 comments Print

Companies/ Factories  provide canteen facility to its employees as per Factories Act, 1948. Section 46 stipulates that any factory employing more than specified number of workers is required to provide canteen facility to its employees. Since this is mandatory, ITC of canteen services provided to employees should be available in view of proviso to section 17(5)(b) of CGST Act.

Demurrage charges & GST

December 7, 2020 50373 Views 1 comment Print

Demurrage charges are collected by the shipping line from the foreign vendor in case of delay in unloading the goods beyond a specified period since such delay results in his vessel being detained. If there is a delay in unloading the goods because of the Indian Importer, the Indian Importer will reimburse an amount equal […]

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