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Neha Somani

Latest Posts by Neha Somani

Current Scenario of GST On Director’s Remuneration

June 13, 2020 1971 Views 0 comment Print

The question of taxability of director’s remuneration has been a subject matter of dispute so far as taxability is concerned. The recent advance rulings on the subject have created more confusion than clarity on this issue. Here is an attempt to look into the taxability aspect in the light of law and advance rulings. Supply […]

Summary of Circular no. 137/07/2020-GST dated 13.04.2020

April 14, 2020 9240 Views 0 comment Print

CBIC vide Circular no. 137/07/2020-GST dated 13.04.2020 have clarified in respect of certain challenges faced by the registered persons in implementation of provisions of GST Laws: Cancellation of Goods and Services contract The treatment under GST has been clarified in respect of certain transactions of supply of goods and services when get cancelled for any […]

Confusion over Interest on Delayed GST Payment

March 18, 2020 18276 Views 1 comment Print

Under GST, payment of tax is accompanied by a return. GSTR 3B is a simple return form introduced by the CBIC which is to be filed by 20th of the following month. Wherein only total values for each field have to be provided, this value must be for the month for which return is being […]

Note on Recommendations Made In 39th GST Council Meeting

March 16, 2020 2346 Views 0 comment Print

Various recommendations have been made by the GST Council in its meeting held on 14.03.2020 which is likely to be notified soon. Relevant points are as follows: 1. Interest for delay in payment of GST to be charged on net cash tax liability w.e.f. 01.07.2017 instead of gross tax liability (Law to be amended retrospectively). 2. […]

Changes in GST for Hotel Industry- 37th GST Council meeting

September 23, 2019 6180 Views 0 comment Print

Decisions taken at 37th GST Council meet at Goa on 20.09.2019 (with specific reference to Hotel) GST Council in the 37th meeting held on 20th September, 2019 (Friday) at Goa inter-alia, decided to lower GST rates on hotel tariff, outdoor catering and other miscellaneous items. (A) GST Rates on hotel room tariffs A comparative analysis of the […]

Immediate Compliances Under GST for Financial Year 2018-19

April 5, 2018 51573 Views 13 comments Print

To be able to claim input tax credit of an invoice, its payment must be made within 180 days as per second proviso of section 16(2) of CGST Act, 2017. If the payment is not made, the credit taken on that invoice must be reversed. And whenever such payment is made credit may be taken then.

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