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Sandeep Purohit

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Interest on saving bank account, PPF and personal loans is to be included in threshold limit of 20 Lakhs for GST Registration: AAR, Gujarat

June 20, 2020 5022 Views 0 comment Print

Interest on saving bank account, PPF and personal loans is to be included in threshold limit of 20 Lakhs for GST Registration: AAR, Gujarat ruling on application by Shree Sawai Manoharlal Rathi Aggregate turnover for determining GST registration threshold to include Interest on ‘Saving bank deposit, PPF and Personal loan & advance’: AAR, Gujarat Under […]

ITC on Health-Insurance & transportation of employees from 15.04.2020

June 14, 2020 61158 Views 1 comment Print

Now ITC can be availed which was earlier blocked on Health-Insurance and hiring of motor vehicle for transportation of employees from 15th April 2020 Due to COVID-19 epidemic in the country, Government has made certain services obligatory for employer to provide to its employees. In this article, such categories of supplies have been identified and […]

GST on ocean freight – FOB Vs. CIF Import Transaction

February 17, 2020 64746 Views 14 comments Print

Applicability of GST on ocean freight – Analysis of FOB transaction V/s CIF Import Transaction The quantum of Ocean freight is one of the important factors in Import / Export Trade. The Ocean Freight is charged by the shipping lines for transporting the Products packed into large containers   to the destination country. Out of many […]

Eligibility of Input Tax Credit (ITC) on Prepaid Expenses

April 24, 2019 51606 Views 0 comment Print

Section 16 of CGST Act 2017 provides that every registered person shall be entitled to take Input Tax Credit of tax paid on input and input service, subject to such conditions and restrictions as may be prescribed.Section 16(2) of CGST Act 2017 provides that ITC on Input and service shall be available subject to following conditions: –

Analysis of Newly inserted section 49A of CGST Act 2017

March 20, 2019 22776 Views 3 comments Print

CBIC Notifies applicability of CGST (Amendment) Act, 2018 with effect from 1st February 2019 vide Notification No. 02/2019 Central Tax Dated 29.01.2019. One of the important amendment was made in Section 49 CGST Act, 2017 by introducing new section 49A & 49B under The CGST Act 2017. After section 49 of the principal Act, the following sections (49A […]

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