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Ca Bhanu Prudhviraj

Latest Posts by Ca Bhanu Prudhviraj

360 Degrees analysis of blockage of Input Tax Credit on Motor Vehicles

May 2, 2024 2244 Views 1 comment Print

In this article we will analyse Input tax credit on motor vehicles post 01-02-2019 GST amendment. Motor Vehicles are used for transportation of goods or passengers/ employees in the business. Under GST, Input tax credit is not restricted for motor vehicles made and used for transportation of goods. However, input tax credit was restricted on […]

Relevance of One-One Correlation for utilization of particular ITC towards particular Outward taxable supply

May 31, 2023 3192 Views 0 comment Print

Explore the relevance of one-to-one correlation for utilizing Input Tax Credit (ITC) towards specific outward taxable supplies under the Goods and Services Tax (GST) system. Learn how the seamless flow of ITC allows flexibility in utilization, avoiding complexities and ensuring smooth compliance. Gain insights from legal cases supporting this approach and understand the fundamental aspects of ITC in GST.

Early Bird missed the Flight while complying 80G Registration procedures

May 11, 2023 4305 Views 3 comments Print

Discover the challenges faced by early birds in complying with the 80G registration procedures under the new scheme of exemption for charitable institutions. Get insights into the transition from provisional to regular registration, timelines for Form 10A and Form 10AB, and the doctrine of impossibility.

Educational Institutions Availing Income Tax Exemptions – Section 10(23C) – SC Verdict

November 20, 2022 9036 Views 0 comment Print

Get insights into the recent Supreme Court verdict on educational institutions availing income tax exemptions under section 10(23C).

DESH A Road Map To Swadesi

August 2, 2022 3921 Views 1 comment Print

The Government plans to table the Development of Enterprise and Services Hubs (DESH) Bill during the ongoing monsoon session of Parliament to overhaul the SEZ Act of 2005 with an aim to make governing provisions of Special Economic Zones (SEZ) more WTO Compliant.

Relevance of Indirect Tax Planning In Domestic Food Expenditure – Buy More To Pay Less Tax (GST)

July 20, 2022 3372 Views 1 comment Print

GST Liability on pre-package and labelled commodity has been matter of serious debate among trade and professional circles in last few weeks. In this article I share some of my thoughts on pros and cons on this new imposition of tax.

CBIC applied air brakes on arbitrary collection of taxes by using coercive measures

June 10, 2022 1764 Views 0 comment Print

CBIC puts brakes on arbitrary tax collections through coercive measures in GST enforcement. Recent instructions curb undue force, ensuring fair procedures. Learn about the impact on taxpayers and disciplinary actions.

Junkets & Corporate Gifts are under lens of Income Tax Authorities in light of Section 194R

May 23, 2022 3150 Views 1 comment Print

Uncover the impact of Section 194R on junkets and corporate gifts. Learn how income tax authorities are scrutinizing these expenses.

Does denial of adjustment of Electronic Credit Ledger balance against GST Pre-deposit tantamount to double taxation ??

December 7, 2021 2700 Views 0 comment Print

Does denial of adjustment of Electronic Credit Ledger balance against GST Pre-deposit tantamount to double taxation ?? Right to file an appeal is the statutory right granted by Tax Laws of the country. Under the GST law, any person aggrieved by the impugned order passed by the assessing authority is entitled to file an appeal […]

One Assessee -One Tax- Multiple Assessing Authorities

October 5, 2021 20292 Views 6 comments Print

GST law is a classical example of cooperative federalism which facilitates fiscal growth of all the states in the country. It has curtailed the levy of multiple taxes and promoted transparency, accountability, and reduced human interface in relation to its execution and implementation. In the Pre GST regime, there are multiple disputes with respect to […]

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