CA Sanjeev Singhal

Stringent Application of ITC Rules – Can business person Breathe

Goods and Services Tax - Restricting Input Tax Credit to 20 % as on 09.10.2019 and further squeezed to 10% from 1.1.2020 will kill the  business person or business. Reason is obvious,  as most of supplier of goods or services do not file GSTR-1 on due date and consequently recipient of goods or services can not file Form-3B waiting for […]...

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Penalties, Late Fees And Interest Under GST-Overview 

Goods and Services Tax - Offence in general means a breach of Law or Act or any illegal act and penalty is defined as the punishment for committing an offence. Section 122 to 138 of the GST Act defines Offences and Penalties under GST. Article explains about Late Fee for delayed or non filing of GST Return, Interest for Late […]...

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SOP on Input Tax Credit under GST in case of 20% cap

Goods and Services Tax - Section 43A Rule 36(4) of the CGST Act, 2017 and CGST Rules, 2017 – Restricting the Input Tax Credit (ITC) limit to 20% of the eligible ITC which is as per GSTR-2A. GST Payable now shall be paid. ITC Deferred a/c balance left out now shall be recoverable in next months as when appear in […]...

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Annual Return-GSTR 9

Goods and Services Tax - Legal provisions of GST Annual Returns In order to understand the gamut of the GST Annual Returns and its requirement, it would be relevant for us to understand the legal provisions relevant for GST Annual Returns. Two important provisions which are relevant and important in this context are Section 35(5) and Section 44(1) of CGST Act,...

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GST on Housing Societies for rendering Services to its Members

Goods and Services Tax - The activities of the housing society attracts the levy of GST and the housing society would be required to register and comply with the GST Law. A Society is akin to a club, which is composed of its members. So, can a service provided by a Housing Society to its members be treated as service provided by one person to another....

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Canteen, House keeping & cleaning service- CENVAT credit allowed

M/S. Tata Steel Ltd. Vs. Commissioner Of Central Excise & Service Tax, Jamshedur (Cestat Kolkata) - CENVAT Credit on Canteen Services and House Keeping/Cleaning Services availed in office building are admissible to Assessee when same was situated within licensed factory premises of Assessee....

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Recent Posts in "CA Sanjeev Singhal"

Stringent Application of ITC Rules – Can business person Breathe

Restricting Input Tax Credit to 20 % as on 09.10.2019 and further squeezed to 10% from 1.1.2020 will kill the  business person or business. Reason is obvious,  as most of supplier of goods or services do not file GSTR-1 on due date and consequently recipient of goods or services can not file Form-3B waiting for […]...

Read More

Penalties, Late Fees And Interest Under GST-Overview 

Offence in general means a breach of Law or Act or any illegal act and penalty is defined as the punishment for committing an offence. Section 122 to 138 of the GST Act defines Offences and Penalties under GST. Article explains about Late Fee for delayed or non filing of GST Return, Interest for Late […]...

Read More

SOP on Input Tax Credit under GST in case of 20% cap

Section 43A Rule 36(4) of the CGST Act, 2017 and CGST Rules, 2017 – Restricting the Input Tax Credit (ITC) limit to 20% of the eligible ITC which is as per GSTR-2A. GST Payable now shall be paid. ITC Deferred a/c balance left out now shall be recoverable in next months as when appear in […]...

Read More

Annual Return-GSTR 9

Legal provisions of GST Annual Returns In order to understand the gamut of the GST Annual Returns and its requirement, it would be relevant for us to understand the legal provisions relevant for GST Annual Returns. Two important provisions which are relevant and important in this context are Section 35(5) and Section 44(1) of CGST Act,...

Read More

GST on Housing Societies for rendering Services to its Members

The activities of the housing society attracts the levy of GST and the housing society would be required to register and comply with the GST Law. A Society is akin to a club, which is composed of its members. So, can a service provided by a Housing Society to its members be treated as service provided by one person to another....

Read More

Advance Ruling in GST

In the interest of avoiding litigations and trembling investor confidence, the advance ruling plays a very important role. Through this facility, an investor gets clarity over the ambiguous and complex provisions of the law and gets more stability as far as the taxation is concerned. The concept for Advance ruling was first introduced in ...

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Taxation of Gift- Under Income Tax

A receipt of sum of money or property* without consideration chargeable to tax under S. 56(2)(VII) if the following condition are satisfied. 1. Individual or HUF 2. Received on or after 01.10.2009and  before 01.04.2017 3. Sum of money or property falls in any of the following category 4. It does not fall under exempted category...

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Registration of GST with practical issues

Every one know that GST registration is required the moment you cross threshold limit of Rs. 20 lacs and Rs. 10 lacs in NE States. But the most important is the GST registration is mandatory from the day one without any threshold limit. ...

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Appeals, Review and Revision in GST

Tax laws broadly impose two types of obligation : a] Tax related b] Procedural related. Some times there are situation of actual and perceived non compliance. If difference in views persist , it result into disputes that need to be resolved. There may be different view and opinion on one subject , therefore it is likely that taxpayer may ...

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Analysis: GST on Canteen Food / Services provided by Company to its employees

Advance Ruling U/S 98 of the GST Act- whether recovery of food expenses from employees for the canteen provided by company comes under the definition of outward supplies are taxable under GST Act - Orders issued. Read:-Application dated 30.12.2017 from Caltech Polymers Pvt. Ltd. ORDER No.CT/531118-C3 DATED 26/03/2018...

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