With the unabated COVID-19 virus that is spreading fast, the Country is in a serious Crisis – Internally as well as Externally. National tensions already at high levels not seen in a generation over various issues like Article 370 to CAA and related protests, escalated into political unrest, violence, and conflict and uproar by some opposition leaders and […]
Trade across the world is crippled and stranded – hit severely due to coronavirus outbreak becoming a pandemic – global supply is nearly collapsed – cargo movements are erratic. The international shipping lines are affected. Entire Trade Transactions are almost Paralysed. Even though major countries have not put trade restrictions for Cargo movement, operational slowdown […]
The International Maritime Organization is an agency tasked with improving the security and safety of international shipping. One of its key duties is to devise strategies and measures to keep the waterways clean by preventing marine pollution from ships. International Maritime Organization (IMO) is an agency of the United Nations which has been formed to promote […]
The Incoterm Rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) (@iccwbo) widely used in international commercial transactions. With the Intension to institutionalize best Practice of using Uniform Set of Rules in the International Transactions, International Chamber of Commerce, First published in 1936 a set […]
Health Cess on Medical Devices falling under Heading 9018-9022 are being announced in the Budget’2020. The Health Cess @ rate of 5% shall be Levied with effect from 2nd Feb’2020.
The DGGSTI is now taking up the job to sensitize the income tax department and even banks about such cases. GST authorities started process of blocking input tax credit of about 1,000 taxpayers who have allegedly claimed more credit than they were eligible for.
Terminal Handling Charge (THC) is currently levied by the port terminals on the shipping lines for services such as unloading cargo containers from the ship and carting them to the storage yard in case of imports and vice versa for exports. THC is charged by both the load port and discharge port and that is […]
Presently the last date of filing GSTR-3B returns for every Regular Taxpayer is 20th of every month. It is been observed that out of over 1.03 Cr Regular Tax Payers, most of them are filling the GSTR – 3B Return on the Last Day, thereby putting Excessive Load on the System, leading to Slowing Down […]
Whether GST Payable on Penalties and Liquidated Damages Levied by Govt. or Local Authorities? Further to my Article ‘Whether GST Applicable on Liquidated Damages?‘ Published in Taxguru on 9th Jan’2020, many readers inquired, ‘Whether GST Payable on Penalties & Liquidated Damages Levied by Govt. or Local Authorities?’ Let’s discuss on the subject in this article […]
In this article let’s discuss about Supply of Services By / To Government or Local Authorities Under GST. Before Proceeding to understand the GST Implication on such Supplies, first let’s discuss What is Mean by Govt. or Local Authorities? What is the meaning of ‘Government’? As per section 2(53) of the CGST Act, 2017, ‘Government’ […]
