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Ca Yash Shah

Latest Posts by Ca Yash Shah

IIT Big Data Unleashed: The Unprecedented Surge in GST Notices

January 10, 2024 3942 Views 0 comment Print

Mass issuance of GST notices in September 2023 prompted businesses to step into limelight and elucidate intricacies of their financial performances. This article unravels events leading to this surge, delves into legal intricacies of Section 73 of CGST Act, and explores ensuing challenges and discrepancies.

From Cash to Commodities: Evolution of ‘Goods’ in GST Legislation & Courtroom Battles

December 11, 2023 2823 Views 0 comment Print

GST Courtroom Battles: Interpretation of ‘Goods’ across Indian High Courts & its implications on taxation and confiscation laws. From Cash to Commodities.

Navigating Penalties & Interest: Exploring Limits & Authority in Mahindra & Mahindra Case

August 28, 2023 1305 Views 0 comment Print

Explore recent Supreme Court ruling on interest levied on customs duties, its complexities, and implications it holds for enterprises, revenue departments, and taxpayers.

Striking a Balance between Game of Skill, Game of Chance and Game of GST

July 29, 2023 2748 Views 0 comment Print

The recent imposition of a 28% GST rate on the entire value of gaming, horse racing, and casinos has been seen as a disadvantage for online gaming companies. The online gaming industry in India has witnessed impressive growth in past years, leading to significant foreign investment, making it one of India’s fastest-growing sectors.

Various Important Reconciliations under Annual Returns – GST Audit Series (Part 8)

December 28, 2022 9033 Views 0 comment Print

There is a need to pay GST under reverse charge mechanism and then claim the ITC. Compliances like these would require a mandatory reconciliation exercise. The reconciliation statements would be useful for finalisation of books of account, filing of GSTR-9 and GSTR-9C.

50 Important & Practical FAQs on Annual Returns – GST Audit Series (Part 7)

December 24, 2022 17964 Views 0 comment Print

A comprehensive guide on understanding and calculating your Annual Returns for GST Audit Series (Part 7), including 50 Important and Practical FAQs.

Clause by clause analysis of other disclosures in Annual Returns – GST Audit Series (Part 6)

December 22, 2022 10560 Views 0 comment Print

Table 14 includes differential tax on account of 10 and 11 above. However, there could be a scenario wherein there is a need to reverse the wrongly availed credit in table 12. Since, the annual return provides for payment of taxes, in table 14, liability from table 12 can also be considered in view of the authors.

Clause by clause analysis of ITC disclosures in Annual Returns – GST Audit Series (Part 5)

December 20, 2022 14343 Views 2 comments Print

Impact of input tax credit in annual returns and we will try to understand how and where disclosures with respect to ITC needs to be made in Annual return GSTR-9.

Special Valuation Branch (SVB) under Customs – Valuation for Goods imported from Related Parties

December 7, 2022 23046 Views 0 comment Print

Special Valuation Branch is a special unit of the Customs department which is specializing in investigating the transactions which are entered into by importer based out in India and a supplier based in foreign country who have relationship like joint ventures, partnerships, holding-subsidiary etc.

Clause by clause analysis of Revenue items & outward supply disclosures in Annual GST Returns – GST Audit Series (Part 4)

December 6, 2022 2949 Views 0 comment Print

In this article we shall discuss each and every field of annual GST returns and what information is required to be disclosed in each such field from the revenue and outward supply standpoint.

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