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Kamala Palaniappan

Latest Posts by Kamala Palaniappan

Reverse Charge applicability on unregistered supplies for the period July 2017 to Oct 2017

December 26, 2021 6936 Views 1 comment Print

Reverse Charge applicability on unregistered supplies for the period July 2017 to Oct 2017 The GST law was initially drafted in such a way that GST shall also be collected on supplies made by unregistered suppliers, hence brought the provision of Reverse Charge Mechanism on supplies received from unregistered suppliers w.e.f 01.07.2017 with an exemption […]

Section 194Q TDS deduction Vs 206C(1H) Tax Collected at Source

June 29, 2021 3135 Views 0 comment Print

The hot topic of discuss in all tax forums is deduction of tax on purchase of goods. Why is this provision in place now when already TCS was being collected by Suppliers from their buyers from October 2020? TCS all this while was applicable all sellers whose turnover was above 10 Crores and the responsibility […]

ITC availability on Covid supplies provided by Corporates to Employees & Others

June 20, 2021 6651 Views 0 comment Print

The recent trend and the most happening event of the hour now is vaccination. Moreover, to rewind and look back a month ago, Country was in requirement for a lot of medicine, equipment supplies and now the vaccinations. Many of the employers had come forward to either help their employees or the society by providing […]

GST Impact on reduced tax rates of Covid-19 supplies

June 19, 2021 1131 Views 0 comment Print

With the onset of pandemic in 2019 and the second wave worsening the situation in India, the sudden or say over demanding requirement of covid-19 supplies like Medicines, medical grade oxygen, oxygen concentrators and cylinders (hereinafter called ‘such supplies’) have come into place in 2021. The government had been imposing taxes on all of such […]

GST Impact on revenue earned from Youtube Channels

June 17, 2021 9027 Views 1 comment Print

With the pandemic and people being locked inside the house, new channels with vloggers are popping up on a rapid note. To understand the GST impact on revenue generated from You tube channel it is very much important to understand the pattern of hosting a channel and posting videos and earning revenue out of it. […]

Input Tax Credit reversal on Sale of Shares/Mutual Funds

January 4, 2021 74154 Views 6 comments Print

In GST regime as well as in the previous regime, ITC on exempted supply of goods or services shall be reversed and not eligible for availment. One such exempted supply is sale of shares/mutual funds. ITC reversal on such supply is discussed as below:

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April 2024