"Practicing Cost Accountant"
Is GST a regressive or progressive tax? Find out how taxes can be categorized and their impact on taxpayers ability to pay.
Writing anything on clause (c) of sub-section (2) of section 16 of CGST Act, 2017 is nothing but scary. It is one of the harshest and scariest provisions of the GST laws and may prove to be a nightmare for the compliant taxpayers. This particular provision says that availment of ITC by the recipient of […]
Section 16(4) of the Central Goods and Services Tax Act, 2017 (similar provision in SGST and UTGST Acts) is arguably one of the most dreaded provisions of GST laws which substantially curb the right of a taxpayer so far as his entitlement to ITC is concerned. It seriously hits the basic premise of GST which […]
Sec 16(4) of CGST Act, 2017 – Is Hon’ble Apex Court’s decision in the case of ALD Automotive (P) Ltd. equally relevant in GST regime? GST was introduced in India with a promise of a seamless flow of credit. Dreams were sold that cascading effect of taxes will vanish in thin air once GST is […]
At the very outset, the author of this write up wants to put a disclaimer that this article has nothing to do with the procedural or legal loopholes or shortcomings of the Indian GST, perceived or real, if any. It is not going to deal with the issues whether GST returns could be easier and […]
Legislation is always enacted with some purposes, objects and reasons. A proposed Legislation is placed before Parliament with a statement of objects and reasons appended to it. The objects and reasons accompanying a bill, which subsequently gets converted into an Act, are to be taken into consideration in interpreting the provisions of the statute. It […]
We are a society with set and preferred precedents. We meet a small boy and ask him what he wants to become when he grows up. We show admiration for him if he says Doctor, Engineer, Scientist, Pilot, IAS or IPS. We say – wow! What a choice! We meet a small girl and ask […]
It was almost a foregone conclusion that the lockdown will be extended. Most of the states wanted it and the Centre was apparently not having a different opinion either. The virus was literally a bolt from the blue and the alleged lack of transparency of the Chinese authorities definitely aggravated the situation. The jury is […]
The world is now passing through a very critical period. A deadly virus is forcing us to spend sleepless nights. We are facing a serious threat to our lives. The World Health Organisation has named the disease as COVID-19 which has now been declared as a pandemic. The entire world is trying to combat a […]
GST was touted as a Good and Simple Tax. It was presumed to be the essence what the federal system of a country can achieve. It was publicised, flaunted and showcased as a brand which proves how best the federal system of our country can function and what drastic reforms our economy is capable of […]
