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Ca Saba Naaz

Latest Posts by Ca Saba Naaz

Can Dream11 Games be considered as Betting/Gambling for GST?

June 29, 2019 6435 Views 0 comment Print

The activity of Dream11 Online fantasy Game is not illegal. It is not gambling or betting or wagering. The amount to be distributed to the winners is an Actionable Claim which is not Supply for the purpose of GST and hence, EXEMPT.

How Wrong Classification of Goods/Services under GST affect your Business?

May 27, 2019 34980 Views 8 comments Print

Under GST law, one of the most important elements is the classification of goods/services for the purpose of determination of rate of tax to be levied on them. The rate of tax to be charged on a particular product depends on the HSN/SAC codes specified under the GST law. Also, for the availability of exemptions, […]

Invest in 2 Houses And Claim Capital Gain Exemption

May 1, 2019 15576 Views 12 comments Print

Sale of a residential house is taxable under the Income Tax Act. When you sell a house, you are required to pay capital gain tax on the profit received from the sale. The Income Tax Act,1961 provides relief from tax payment in such a case under Section 54 , subject to fulfilment of certain conditions. […]

Treatment of Free samples, Discounts & Offers under GST

April 23, 2019 28644 Views 1 comment Print

You cannot claim Input Tax Credit (ITC) on the inputs, input services and capital goods to the extent they are used in relation to the free samples and gifts supplied without any consideration.

Income Tax Compliance Due Dates For April 2019

April 5, 2019 13956 Views 0 comment Print

1. (A) Due date for deposit of Tax deducted by Office of the Government to the credit of Central government for March, 2019 (with production of Income tax challan): 7th April, 2019 Note- (i) If tax is paid without production of Income tax challan, it must be deposited on the same day of deduction. (ii) […]

5 Recent important cases on GST decided by various High Court

March 28, 2019 39060 Views 1 comment Print

This post covers summary of a few recent case laws on GST. Hope these judgement help you to understand the practical issues emerging in the GST regime in a better way. 1. Bharat Raj Punj Vs Commissioner of Central Goods And Service Tax (Rajasthan High Court) Case: Input tax credit availed fraudulently by issue of fake […]

GST Audit Desk Review- Part 2 (Detailed Analysis)

March 24, 2019 7992 Views 0 comment Print

This is my second post on the topic GST Audit Desk Review which will help you all to focus on the key areas . To begin with- 1. Understand the domain of your assessee: Like the trade practices, policies, ratio trend, sales trend, etc. 2. Try to figure out the issues that may prevail: Like […]

GST Audit Desk Review : Part – I

March 15, 2019 14379 Views 2 comments Print

Desk review is the first and foremost step taken by an Auditor to conduct an audit . It simply means performing initial audit procedures in the office itself without going to auditees place of business. It involves collecting some important information from the assessee to understand the operations prior to the conduct of field audit.

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