"I am having 30+ years experience in Indirect Tax and GST function comprising of Tax planning and optimization, debottlenecking GST situations, Litigation - GST and erstwhile IDT laws and routine compliances. "
GST law continues to deny ITC on buildings and civil structures used in manufacturing. This significantly increases capital costs despite their essential role in business operations.
A summary of the 56th GSTC meeting’s outcomes, detailing rate changes on goods and services, and the potential impact on consumers, taxpayers, and state revenue.
A provision changed having made effective from a past date is what we understand from a retrospective amendment, but in our back of mind it is always assumed that such emendation is issued basically as a last resort by the Govt to correct a genuine and inadvertent error for the larger interest of all the […]
Audit, Investigation and Scrutiny as such sends shivers down the spine irrespective of well preparedness on the part of the assessees. This one aspect remains the same be it erstwhile IDT system – Excise, Service Tax, VAT, Customs, etc. or GST. GST is not the tested water, hence the apprehensions are more. The best action […]
A plain reading of rule 86A signifies that the intention of the Government is only to curb the menace of availing fraudulent credit but it has many unintended ramifications. There is also no clarity on the scope of the term ‘Reason to Believe’ in the given Rule 86A in sub-rule (1)(b)
Recently, there was an Advance Ruling by the Gujarat AAR in case of ‘Sterlite Technologies Pvt Ltd‘wherein it was decided that the goods procured from a supplier located out of India and directly supplied to a recipient located out of India falls under the category of ‘inter-state transaction’ and hence, the same is liable to […]
Below are discussed some important aspects of GST and its feasibility under the novel WFH culture as a contingent and a temporary alternative to the conventional work system, for tax personnel associated with GST :
