CA Chitresh Gupta

Eligibility of Recipient to Claim ITC in case of Mis-Classification by Supplier

Goods and Services Tax - The right to claim ITC on goods and/or services received by the Recipient is never disputed both in GST law and erstwhile VAT regimes. However, what should be the correct amount of ITC which can be claimed by the recipient has been a matter of legal debate in both GST law and erstwhile Indirect Taxation regime....

Read More

Interest on Delayed Payment of Tax – on Gross or Net Tax Liability – Bone of Contention Remains

Goods and Services Tax - Interest on Delayed Payment of Tax – on Gross or Net Tax Liability – Bone of Contention Remains There has been a big controversy that whether interest on delayed payment of tax has to be paid on gross tax liability or net tax liability paid through electronic cash ledger after adjustment of input tax credit? […]...

Read More

GST Actionable for September 2020

Goods and Services Tax - September 2020 marks an important month for completion of major compliances under Goods & Services Tax. We present below the list of activities which should be executed by the registered person in September 2020. 1. Amendment in GSTR-1 for FY 2019-20 As per first proviso to Section 37(3) of the CGST Act, 2017, no rectification [&helli...

Read More

Disclosure of Ineligible ITC & ITC Reversal in GSTR-3B – Time to change the Practice

Goods and Services Tax - GSTR-3B is a summary return which came into existence since GSTR-2 and GSTR-3 never saw the light of the day due to the technical glitches in functioning of Matching System as stated in Sec 42 and Sec 43 of the CGST Act, 2017.  Recently, Rule 61(5) of CGST Rules have been amended vide Notification No. […]...

Read More

Relaxations in Filing of GSTR-1 and GSTR-3B

Goods and Services Tax - Relaxations in due date of Filing of GSTR-1 and GSTR-3B-Article also discusses Conditional Date for Waiver of Late Fee and interest payable beyond Waiver Date. Relaxation are based on following recent GST Notifications and Circulars- Waiver of late fee for delay in filing GSTR-1- March to June 2020 | Notification No. 53/2020-Central Tax/G...

Read More
Sorry No Post Found
Sorry No Post Found
Sorry No Post Found

Recent Posts in "CA Chitresh Gupta"

Eligibility of Recipient to Claim ITC in case of Mis-Classification by Supplier

The right to claim ITC on goods and/or services received by the Recipient is never disputed both in GST law and erstwhile VAT regimes. However, what should be the correct amount of ITC which can be claimed by the recipient has been a matter of legal debate in both GST law and erstwhile Indirect Taxation regime....

Read More

Interest on Delayed Payment of Tax – on Gross or Net Tax Liability – Bone of Contention Remains

Interest on Delayed Payment of Tax – on Gross or Net Tax Liability – Bone of Contention Remains There has been a big controversy that whether interest on delayed payment of tax has to be paid on gross tax liability or net tax liability paid through electronic cash ledger after adjustment of input tax credit? […]...

Read More

GST Actionable for September 2020

September 2020 marks an important month for completion of major compliances under Goods & Services Tax. We present below the list of activities which should be executed by the registered person in September 2020. 1. Amendment in GSTR-1 for FY 2019-20 As per first proviso to Section 37(3) of the CGST Act, 2017, no rectification [&helli...

Read More

Disclosure of Ineligible ITC & ITC Reversal in GSTR-3B – Time to change the Practice

GSTR-3B is a summary return which came into existence since GSTR-2 and GSTR-3 never saw the light of the day due to the technical glitches in functioning of Matching System as stated in Sec 42 and Sec 43 of the CGST Act, 2017.  Recently, Rule 61(5) of CGST Rules have been amended vide Notification No. […]...

Read More

Relaxations in Filing of GSTR-1 and GSTR-3B

Relaxations in due date of Filing of GSTR-1 and GSTR-3B-Article also discusses Conditional Date for Waiver of Late Fee and interest payable beyond Waiver Date. Relaxation are based on following recent GST Notifications and Circulars- Waiver of late fee for delay in filing GSTR-1- March to June 2020 | Notification No. 53/2020-Central Tax/G...

Read More

Applicability of RCM on Director Remuneration -Version 3

There has been a big controversy regarding the liability of GST on Directors Remuneration under Reverse Charge. Various conflicting Advance Rulings has been issued by Authority for Advance....

Read More

Eligibility of ITC on COVID 19 related Expenses – Potential Bone of Contention Between Assessee& Department

Whether the expenses related to the preventive measures eligible for ITC? The above regulations require business to shell out money on various items like Sanitizers, Masks, Social distancing apps, Medical insurance of workers, Buses for transportation, disinfection of office spaces etc....

Read More

Applicability of RCM on Director Remuneration- Version 2

Introduction As per Serial No. 6 of Notification No. 13/2017-Central Tax (Rate) dated 28.06.2017, services supplied by a Director of a company or a body corporate to the said company or the body corporate is liable to tax under reverse charge. Thus, the company or a body corporate located in the taxable territory, being recipient [&hellip...

Read More

16 Changes in GST vide Finance Bill 2020- Clause- wise Analysis

Hon’ble FM Shrimati Nirmala Sitharaman has presented Budget 2020-21 on 1st February, 2020 and has carried out several changes in Goods & Services Tax which includes Amendment in Definition of Union Territory, Amendment of Conditions for Opting Composition Scheme, Amendment in Time Limit for Availing ITC in respect of Debit Notes, Am...

Read More

Analysis of Changes in GST Invoicing System effective from 1st April, 2020

The Invoicing System is GST is destined for major overhaul in the coming financial year. This includes E-Invoicing, Inclusion of Quick Response Code and Facility of Digital payments to recipients. It is important for organizations to understand the same as all of the above would not only require customization in their accounting/ ERP soft...

Read More

Browse All Categories

CA, CS, CMA (5,737)
Company Law (7,726)
Custom Duty (8,775)
DGFT (4,644)
Excise Duty (4,542)
Fema / RBI (4,843)
Finance (5,220)
Income Tax (38,672)
SEBI (4,159)
Service Tax (3,799)

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031