GST articles

Issues of GST Amnesty Scheme

Arjuna (Fictional Character): Krishna, Government has announced the GST Amnesty Scheme 2021, in the 43rd GST Council meeting. Krishna (Fictional Character): Arjuna, in that scheme the Government has provided relief to the taxpayers whose GSTR-3B returns were pending from July-2017 to April-2021. The relief has been provided by reducing th...

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Section 7 of CGST Act, 2017:- Scope of Supply – Detailed Analysis

The law has provided an inclusive meaning to the word ‘supply’ which implies that the specific transactions which are listed in the said Section are only illustrative. (1) For the purposes of this Act, the expression “supply” includes, (a) All forms of supply of goods or services or both such as sale, transfer, barter, exchange, [...

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GST Impact on Services Provided by the Freelancer

I have received queries from our colleagues regarding the GST Impact on Services provided by the Freelancer.  What is Freelancer, What types of services will be provided by him , Requirement of Registration, Issue of Tax Invoice, What are the requirements if Freelancer is having export of Services and what are the returns to be […...

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Applicability of GST on Reverse Charge Mechanism for Import of Service

Applicability of GST on Reverse Charge Mechanism for Import of Service  GST is Levy in accordance with the concept of supply. According to section 7(1) (b) of CGST Act’ 2017 supply includes “import of services” for a consideration whether or not in the course or furtherance of business. According to section 7 (4) of IGST […]...

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GST, Income Tax, DGFT, FEMA, Customs Updates dated 09.07.2021

On 1st July 2017, the GST has celebrated its 4th anniversary. The ministry has issued certificates of appreciation to over 54,000 GST payers who have made substantial contribution in payment of GST in cash along with timely filing of returns, to mark the 4th anniversary of the historic tax reform. The Goods and Services Tax […]...

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CESTAT Bangalore confirms service tax demand on VCF trust

M/s. ICICI Econet Internet and Technology Fund Vs. Commissioner Of Central Tax (CESTAT Bangalore)

M/s. ICICI Econet Internet and Technology Fund Vs. Commissioner of Central Tax (CESTAT Bangalore) Any start-up needs huge financial support and presently this is being done by alternative investment funds (AIFs) or venture capital fund (VCFs). These funds are pooled investment vehicles with a certain set of contributors. In India, these f...

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GST @5% applicable on pick up charges paid to the owner/driver

In our view, the decision of AAR is correct in law. If any facility is directly related to transportation of passengers and is incidental to such transportation service, then such service shall form part of composite supply and shall be charged as per GST rate applicable to the principle supply....

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New Feautures on GST Portal for Benefit of Taxpayers

The GSTN has deployed various new functionalities on the GST portal for the benefit & ease of taxpayers. Below is a brief compilation of all such new functionalities in the GST Portal deployed in June, 2021 for taxpayers: A. GST Returns 1. Moving the records saved in IFF, to later months of same Quarter, by […]...

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GST Compliance Calendar July 2021

GST compliance has been and will continue to be a challenging task. But we endeavor to make GST compliance easy for you all. With many deadlines for monthly/Quarterly returns approaching in the month of July’21, take note of these dates and stay GST compliant. This post provides GST Compliance Calendar for the month of July [&hellip...

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Blocked Credits Under GST‐ Section 17(5) of CGST ACT, 2017

We have once dreamed that there should be one tax for one nation and implementation of GST Act,2017 from 1st July,2017 has fulfilled our dream. GST has implemented whole of India and number indirect and direct taxes have been submerged into GST. In earlier tax regime ,there were cascading affect of taxes and each sate […]...

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August 2021