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Ca Subhash Kalal

Latest Posts by Ca Subhash Kalal

ITC (GST) denial for default of supplier- Delhi HC issued notice to UOI

June 1, 2019 50556 Views 1 comment Print

Input Tax credit (GST) Can not be denied to recipient for default on part of the supplier- Delhi High Court issued notice to UNION OF INDIA. Delhi HC issues notice in writ petition challenging Section 16(2)(c), second proviso to Section 16(2)(d) and proviso to Section 16(4) of Central Goods and Service Tax Act, 2017 (CGST Act);

Delhi HC stays recovery of interest demanded on gross GST liability

May 29, 2019 12942 Views 2 comments Print

Mr. Mittal points out that the calculation of the interest payable for delayed payment of GST as determined by the Respondent is erroneous. According to him, interest has been calculated even on the amount constituting the input tax credit which is in fact to be adjusted against the tax liability. He states that on the actual tax liability, interest has been paid by the Petitioner. He further states that against the total tax liability of Rs.3.31 crores the interest liability works out to 8.19 crores which makes it unreasonable and erroneous.

Transactions which may get non-filers 21 day notice from Income Tax department

January 31, 2019 3318 Views 0 comment Print

Avoid trouble with the Income Tax department. Learn about the 21-day notice for non-filers and the actions required to avoid penalties.

Summary of 31ST GST Council Meeting Decisions

December 23, 2018 25920 Views 6 comments Print

31ST GST COUNCIL MEETING DECISIONS Change in GST Rate on Goods –  Solar Power Plants to be Taxed at 8.9% – To provide some relief to Solar Industry, it has been decided that supply of Solar Power Systems/ Plants as a part of EPC Contract will be taxed as follows – Particulars Effective Rate 70% […]

Important points to be considered before filing GSTR-3B/GSTR-1 for the month of September 2018

September 11, 2018 5802 Views 3 comments Print

GST Circular No. 12/GST/SSG/2018 dated 31st August 2018 Important points to be considered before filing GSTR-3B/GSTR-1 for the month of September 2018

GST Update on Amended Section 140(1) of CGST Act, 2017 restricting carry forward of Cess

September 9, 2018 26805 Views 3 comments Print

The carry forward of the balance of education cess and SHE cess in the GST regime has been a point of discussion for a long time. Although, we had explained in our earlier update that there is no legal prohibition in the CGST Act, 2017 as regards carry forward of the cenvat credit balance of education cess and SHE Cess

An insight into GST Amendments as passed by Lok Sabha

August 15, 2018 4371 Views 2 comments Print

On August 9, 2018 the Lok Sabha has passed the GST Amendment Bill, 2018. The Bill provides for more than 40 amendments to the GST Act. These amendments aim to simplify the GST law and to ensure administrative convenience for the Small and Medium Enterprises. These amendments shall come into force form such date as […]

Restore Company name when company expresses its willingness to file ROC returns with late fee: NCLT

May 4, 2018 2286 Views 1 comment Print

Ms. Rashmi Rajpal v. Klienz Herbal (P.) Ltd. (National Company Law Tribunal, Hyderabad Bench) Where name of a company was struck off because of delay in filing statutory returns, reasons of which was explained, and, company had expressed its willingness to file all returns along with payment of prescribed fee to which ROC had no objection, name […]

Guidelines issued by CPC for claiming Exemption u/s 10 & 11

April 29, 2018 81735 Views 20 comments Print

As per the provisions of Income Tax Act, the exemption of income under sections 10 and 11 is governed by certain statutory conditions and procedures. In order to assist you in complying with these conditions and procedures, your attention is drawn to the following with a request to keep them in mind while filing Income tax return in ITR-7.

GST on work contracts for which agreements executed before July 1, 2017

April 28, 2018 64788 Views 14 comments Print

Since CGST Act, 2017 came in force with effect from 1-7-2017, contract work for which agreements were executed prior to 1-7-2017, GST would not be imposed on same and 2 per cent VAT alone was applicable

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