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Venkata Prasad Pasupuleti

Latest Posts by Venkata Prasad Pasupuleti

GST on Mining Royalty post 9 Judge bench SC decision- is it attained finality?

October 5, 2024 5889 Views 1 comment Print

Learn the implications of the 9-judge SC decision on GST and mining royalty. Explore the distinction between royalty and tax, and its effect on service tax/GST.

GST rate increase for Government projects (works contracts) – impact & way forward

July 20, 2022 347658 Views 11 comments Print

Recently, GST council in its 47th Council meeting has recommended for rate increase to 18% for all Government works which was followed by issuance of Notification No. 03/2022-C.T (R) dated 13.07.2022.

Supreme Court’s Gavel Strikes – No GST on Ocean freight under RCM in CIF contract – Part II

May 22, 2022 4329 Views 0 comment Print

Understanding the Supreme Courts decision on GST on ocean freight under RCM in CIF contracts. Learn about the legal background and implications.

Supreme Court’s Gavel Strikes – No GST on Ocean freight under RCM in CIF contract – Part I

May 22, 2022 4920 Views 0 comment Print

Understanding the recent Supreme Court decision on GST applicability in CIF contracts for ocean freight transportation – Part I

GST on Construction service – Forced 1/3rd land deduction is ultra vires

May 9, 2022 22110 Views 0 comment Print

Analysis of Guj HC decision on GST forced land deduction in construction service. Understand the impact & legality of 1/3rd land deduction in Real estate transactions.

ITC Invoice matching under GST – Mis-match case for Taxpayers

August 30, 2021 26538 Views 3 comments Print

Introduction: Input tax credit (ITC) is backbone of GST as it ensures the critical feature of taxing on value addition in the supply chain. Any action of denying ITC would lead to Cascading effect and kills the soul of GST. Hence, the success of GST heavily depends on the free flow of ITC across the […]

Missed charging GST, Golden chance now to rectify by way of Debit note

May 3, 2021 21483 Views 10 comments Print

One of the Mantra’s to avoid litigation in GST is charging GST on the higher side (higher rate or valuation or not taking disputed exemptions etc.,) and pass it to the recipient. It becomes easier when the recipient can take the ITC. While the aforesaid Mantra works wonderfully when sufficient care was taken at the […]

‘Interest’ on Net Tax Liability under GST – Light at the end of Tunnel?

September 12, 2020 23313 Views 4 comments Print

The interest liability for any belated remittance is an economic consequence. The tax laws are no exception to this rule. GST law provides for interest @18% on the delayed remittance of the tax after due date. A question was raised as to whether the interest has to be paid on Gross Tax liability (i.e. the […]

Input services ITC also eligible for refund under Inverted duty structure- Impact of Gujarat HC decision

August 26, 2020 4713 Views 2 comments Print

Input services ITC also eligible for refund under Inverted duty structure – Analysis of Gujarat High Court decision and its impact- Introduction: The fundamental principle of GST laws worldwide is that it is a multi-stage tax and tax on value addition, with final consumer alone ultimately bearing the tax. This is ensured by allowing the […]

GST returns – Due dates conundrum

August 14, 2020 23280 Views 2 comments Print

Introduction: Extending the due dates for various compliances is one of the reliefs extended by the Government to support the struggling taxpayers due to Covid-19 crisis. However, the extensions are not straight forwarded, it comes with conditions and criteria. Hence it is important to carefully check the relevant conditions and make the compliance. We have […]

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