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Sharnam Legal - Advocates & Solicitors

Latest Posts by Sharnam Legal - Advocates & Solicitors

Pertinent anomalies due to GSTN Portal designing deficiencies

November 18, 2019 2472 Views 0 comment Print

GSTN might have done a commendable job to help Ministry of Finance or CBIC and the States to administer the intricate provisions of GST Law as an interface between the assessee tax payer and the Government, but at some places GSTN have made some significant mistakes in analysing and converting the provision of GST Law into Web Portal driven by the software.

Glossary of Terms & their Interpretation as Used in Annual GST Return

July 10, 2019 5136 Views 0 comment Print

Glossary of Terms and their Interpretation as Used in Annual Return i.e. FORM GSTR-9 and 9C 1. FINANCIAL YEAR – The period of twelve months from 1st April to 31st March of every calendar year in which business transactions / supply of goods or services or both are performed is termed as ‘Financial Year’. 2. […]

3 Key Issues that should be considered by GST Council

June 29, 2019 9036 Views 0 comment Print

1. Anti Profiteering Provisions under GST need better clarity “Profiteering is a pejorative term for the act of making profit by adopting unethical methods.” Section 171 of the CGST Act, requires a registered taxable person to pass on the benefit of every rupee accrued on account of additional input tax credit or reduced tax rate, […]

Issues in GST Annual Return GSTR-9/9A and Reconciliation GSTR-9C

June 26, 2019 18948 Views 1 comment Print

Issues in GST Annual Return GSTR-9/9A and Reconciliation GSTR-9C requiring your urgent attention and corrective actions. People are facing grave problem in practically implementing the requirements in GSTR-9, 9A & 9C. We urge you to consider and clarify the following issues which are arising at the time of preparing and filing Annual Return in Form […]

Issues Relating To Determining And Disclosing Outward Supply In Annual GST Return

February 13, 2019 27804 Views 3 comments Print

Goods and Service Tax revolves around the occurrence of the event supply, the whole concept of indirect taxation in the new GST regime have changed from the point of ‘manufacture’ under erstwhile central excise law or providing of ‘service’ under erstwhile service tax law or point of ‘sale’ under erstwhile Sales Tax/ VAT law to the point of ‘supply’ under the new GST law.

GST Regime: The Contemporary Issues Crying for Immediate Attention including need of Robust Digital Platform

January 20, 2019 948 Views 0 comment Print

India is a country with huge potential. It is an emerging business & economy, powered adequately by the political will of the present leadership which placed the new Indirect Tax Regime of ‘Goods & Services Tax’ (GST).

Movement of Goods under Supply covered by e-way Bill through RFID

December 3, 2018 9174 Views 0 comment Print

Movement Of Goods Under Supply Covered By An E-Way Bill Through ‘Radio Frequency Identification Device (RFID)’ : An Efficient Tool Of Verification Under GST Regime The verification of movement of goods under supply transaction in GST Regime shall now be getting electronically verified, this would be a major reform in the right direction for the […]

Contemporary Issues pertinent in GST regime

December 2, 2018 8145 Views 4 comments Print

There has been relief from enumerable and cumbersome indirect taxes like VAT, Excise, service tax, tolls and many more. This has also brought double taxation effect down to zero, reduced rate of taxes resulting in reduced prices of goods and services, much more transparency and more. But when talking about the other side of the coin, some issues have been raised frequently by not just common people but also professionals and authorities. These are few of the extremely pertinent requisites must be brought to the knowledge of GST Council as well as the Think-Tank which is very efficiently and dedicatedly developing and implementing GST in the country, so that some suitable solution could be urgently implemented.

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