CA Ravi Kumar Somani

GST on Trading of Priority Security Lending Certificates (PSLC’s) by Banks

Goods and Services Tax - Priority Sector Lending Certificates (PSLCs) are tradable certificates issued against priority sector loans of banks so as to enable banks to achieve their specified target and sub-targets for priority sector lending through purchase of these instruments in the event of a shortfall and at the same time incentivizing the surplus banks to l...

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50 Practical issues & possible solutions on E-way bills under GST

Goods and Services Tax - The free movement of goods across India without any checkposts in between is one of the major objectives of GST. Nation-wide E-Way bill system under GST is set to be implemented from February 1, 2018. ...

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Transitional Credit of stocks older than one year – whether available in GST?

Goods and Services Tax - Transitional provisions in GST law provides the tax treatment for transitional transactions and issues arising thereof. One of the key transitional issues is whether input tax credit can be availed in respect of stocks lying with the business on the appointed day (i.e. 01.07.2017). This issue does not bother much to the manufacturers sinc...

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100 Issues & solutions in filing GST Returns & TRAN Forms

Goods and Services Tax - It is seen that industry, trade and professionals have been facing various issues in filing of GST Returns and transitional forms. Therefore, this article is written to provide as a ready reckoner to those involved in filing of GST returns to understand the issues and also solution to resolve the same. For ease of readers, the issues are ...

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Five current issues in Goods and Services Tax

Goods and Services Tax - It is seen that based on the concerns raised by various exporters, government has immediately acted upon and created a mechanism in GST portal enabling exporters to claim refund of the taxes paid. ...

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Recent Posts in "CA Ravi Kumar Somani"

GST on Trading of Priority Security Lending Certificates (PSLC’s) by Banks

Priority Sector Lending Certificates (PSLCs) are tradable certificates issued against priority sector loans of banks so as to enable banks to achieve their specified target and sub-targets for priority sector lending through purchase of these instruments in the event of a shortfall and at the same time incentivizing the surplus banks to l...

Read More

50 Practical issues & possible solutions on E-way bills under GST

The free movement of goods across India without any checkposts in between is one of the major objectives of GST. Nation-wide E-Way bill system under GST is set to be implemented from February 1, 2018. ...

Read More

Transitional Credit of stocks older than one year – whether available in GST?

Transitional provisions in GST law provides the tax treatment for transitional transactions and issues arising thereof. One of the key transitional issues is whether input tax credit can be availed in respect of stocks lying with the business on the appointed day (i.e. 01.07.2017). This issue does not bother much to the manufacturers sinc...

Read More

100 Issues & solutions in filing GST Returns & TRAN Forms

It is seen that industry, trade and professionals have been facing various issues in filing of GST Returns and transitional forms. Therefore, this article is written to provide as a ready reckoner to those involved in filing of GST returns to understand the issues and also solution to resolve the same. For ease of readers, the issues are ...

Read More

Five current issues in Goods and Services Tax

It is seen that based on the concerns raised by various exporters, government has immediately acted upon and created a mechanism in GST portal enabling exporters to claim refund of the taxes paid. ...

Read More

20 things you must know about E – Way Bills in GST

1) Who shall furnish details: Every registered person who causes movement of goods shall furnish information relating to the said goods in Part A of FORM GST EWB-01, electronically, on the common portal, before commencement of such movement....

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GST Issues in MSME Sector

Medium Small and Minor enterprises contributes approximately 37% of our Nations GDP. Any negative implication of GST on this segment can directly knock off the player from the competitive business market. This article tries to put forth various issues that this industry could face due upon passage GST. ...

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Impact of GST on Procurements

Organizations that will plan its business processes better in a manner to best suit the needs of the GST regime, then such organization will have competitive edge over others....

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Impact of GST on Automobile Dealers Industry

Introduction of GST shall be a breather for Automobile sector wherein taxes on vehicle are largely expected to be @ 18% in GST regime except for luxury cars where the rate may go upto 28% plus cesses....

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Action Points before GST implementation

GST would become a reality and the nation could witness changes in the traditional ways of doing business. Businesses right now have the option to proactively embrace this reform, understand its intricacies and take a business advantage out of this change by acting immediately....

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