Stay updated on the latest changes in GST. Learn about the amendments made in Finance Act 2022 and their impact on businesses.
Brief Background: In the instant case, the Company (Developer) has identified the industrial land on lease from Government for a period of 99 years for setting up a plant i.e., for infrastructural development. The Developer wished to enter into the lease agreement with the lessee i.e., Government for a total period of 99 years for […]
Background The Goods and Services Tax (GST) was implemented in India on 1st July, 2017. It has been four years since the GST unified most of the indirect taxes laws in India. As it subsumed multiple taxes such as service tax, central excise and value added tax with aims to eliminate the cascading effect of […]
► Key amendments proposed in Central Goods and Services Tax Act, 2017 (‘CGST Act’): -An additional condition inserted in Section 16 to specifically provide that ITC can be availed only if the invoices/ debit notes are furnished by the supplier in its GSTR-1 and such details have been communicated to the recipient as per section […]
GSTN recently introduced functionalities for taxpayers on GST portal. Brief analysis of these functionalities are summarized herein below : 1. New tab for ‘Communication between GST taxpayers’: The said functionality is introduced to enable communication between the supplier and recipient with respect to any issue for any inward/ outward document. This shall help the taxpayers […]
Analysis of interest provision w.r.t. section 50(1) under Central Goods & Services Tax Act (CGST Act), 2017 Background The proviso to Sec 50(1) of the CGST Act was first introduced vide Finance (No. 2) Act, 2019 dated 1 August 2019. The relevant extract of the provisions are enumerated herein below : “It states that the […]
Prasanna Kumar Bisoi Vs Union of India (Orissa High Court) In a recent ruling passed by Hon’ble Orissa high court, held that w.r.t. interest liability for delayed payment of GST under Section 50(1) of the CGST Act, 2017, is required to be paid on net cash tax liability in view of the decision taken by […]
In a recent judgment passed by Gujarat High court in case of Engineering India Private Limited wherein the Hon’ble Gujarat High court held that Service provided by Indian subsidiary to it 100% holding company abroad is export. Summary : Case law : Linde Engineering India Private Limited Other vs. Union of India [R/Special Civil Application […]
CBDT has provide relief measure to taxpayers for filing of belated and revised return w.e.f. 20 July 2020 for the financial year(“FY”) 2018-19, till 31 July 2020. Please be apprised that earlier the last date for said compliance was 31 March 2020.
In the latest anti profiteering case of pharma major Reckitt Benckiser over alleged profiteering of 63 lakh from the sale of Dettol handwash between 2017 to 2019, Hon’ble Delhi High court has stayed the order of National anti-profiteering authority for deposit of alleged profiteering amount in the consumer welfare fund.
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