CA Vinamar Gupta's Posts - Page 4

Demand and Recovery under GST

Burden of proof in case a person claim that he is eligible for input tax credit under GST shall lie on the person who claims it. Hence an onerous duty is caste on the taxpayer to prove his credits failing which presumption of wrong availment or wrong utilization can be drawn. However in all other cases tax authorities need to prove that t...

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Circular on Procedure of GST return of time expired drugs or medicines: Analysis

Analysis of Circular 72/2018 dated 26-10-2018 on Procedure in respect of return of time expired drugs or medicines The Circular puts forth following options and persuant actions: Options Value Return by Normal Registered Person Return by Composition Dealer Return by unregistered Person Amount to be reversed by Manufacturer Return to be tr...

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Last Date of Making Changes under GST: Whether a serious affair?

Concerns regarding last date by which everything wrongly done under GST can be undone and every thing which is not done can be done, are looming large midst the professionals facing heat at the crest of their tax audit assignments. This is a comparative view of different provisions of the GST law dealing with the subject so that a conside...

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Analysis of GST Notifications dated 13-09-2018

TDS and TCS provisions have been introduced in GST vide notifications issued on 13-09-2018. Further reconciliation statement GSTR-9C has been introduced for registered persons having annual turnover more than 2 crore. This article attempts to analyse the notifications issued on these subjects...

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Observations on GST Annual Return “GSTR-9”

In this write up general and point wise observations regarding annual gst return notified vide Notification 39/2018-CT dated 04-09-2018 are provided...

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GST Refund: Notification and Circulars dated 04-09-2018

CBIC recently issued  Notification No. 39/2018 – Central Tax,  Circular No. 59/33/2018-GST and Circular No. 60/34/2018-GST all dated 04/09/2018 by which it amended and clarified on GST Refund related issues. Summary of which is as follows:- Increase in refund amount due to exclusion of IGST paid zero rated supplies from Adjusted Turno...

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Comprehensive E book : GST on Services

This E-book for GST on services is updated till 10-08-2018 and is based on following sections, notifications, orders, press release etc. CGST Sections: 2(12), 2(33), 2(68), 2(70), 2(71), 2(98), 2(102), 2(110), 2(118), 2(119), Schedule II, 9(5), 10(1)(b), 10(2), 13, 17(4), 17(5), 31(2), 31(3)(d), 31(5), 31(6), 34(1), 34(2), 35(2) IGST sect...

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Calculation of Lapse of Input Credit for fabrics in GST Regime

Calculation of Lapse of Credit for fabrics- Circular No. 56/30/2018 dated 24-08-2018 -354/290/2018-TRU The Tax Research Unit of CBIC has issued a circular to address the controversy arising due to lapse of credit in respect of fabrics vide Notification 20/2018 dated 26-7-18. The circular deals with calculation of ITC to lapse, impact of l...

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Highlights of Draft Circular on lapse of Input Tax credit on Fabric

The Tax Research Unit of CBIC has issued a draft circular to address the controversy arising due to lapse of credit in respect of fabrics vide Notification 20/2018. The circular deals with calculation of ITC to lapse, impact of lapse of ITC on exports, input services and capital goods and also deals with situations of fabrics where tax ra...

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Simplified GST Returns and Return formats- 58 Must know FAQs

Note on Simplified Returns and Return formats has been published on 30th July 2018. This write up is an attempt comprehend the underlying concepts of new regime of GST returns....

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