"Founder of CA Firm in 2009 which has grown from strength to strength, serving more than 50 clients. All India 19th rank in CA finals. Worked for 3 years in D.B. Desai & associates. Headed indirect taxation at Berger paints for 3 years before coming into practice. "
Learn about GST implications on corporate and personal guarantees, valuation rules, taxability, and recent amendments under CGST Rule 28(2) effective October 2023.
Learn how to handle GST demand recovery notices. Understand the legal timelines, CBIC guidelines, and your rights to appeal under the CGST Act 2017.
A corporate guarantee is a contract between a corporate entity or individual and a debtor. In this contract, the guarantor takes responsibility for the debtor’s obligations, such as repaying a debt.
Learn about the rules for generating e-way bills for intra-state movement of gold, precious stones, and jewelry. Key points, exemptions, and procedural aspects covered.
Unanswered questions about renting residential dwellings under GST. Learn about the recent changes and implications for registered persons.
Renting of an immovable property is considered a supply of service under GST as per schedule II of the CGST Act 2017. Till 17th July 2017, renting of residential dwelling for use as residence was exempted whereas services by way of renting for commercial use (SAC Code –997212) was taxable @ 18%. However, the dynamics of renting of residential property under GST has changed from 18th of July 2022.
As per sec 50(1) of the CGST Act 2017, a taxpayer is liable to pay interest @ 18% p.a. on the late payment of tax or non-payment of Tax. The extract of the said section has been provided below.
Eligibility of Input Tax Credit (ITC) on Corporate Social Responsibility (CSR) Expenses Under GST 1. Introduction: – Goods & Services Tax (GST) is regarded as the most ambitious and remarkable indirect tax reform in India’s post-independence history. The GST regime is based on uninterrupted and seamless flow of Input Tax Credit (ITC) in order to […]
