GST articles

Levy of GST on immovable property including transfer of development rights

Introduction Article 366 of the Constitution defines Goods as “Goods includes all materials, commodities and articles” and Services as “Service means anything other than goods. Goods and Service Tax (hereinafter referred as ‘GST’) is a destination based Tax which is based on the destination or consumption of the goods or service...

Read More

Treatment of Discounts under GST – A Study

Treatment of Discounts under GST – A Study Discounts are an integral part of business. Offering trade, cash post-sale discounts are very common in business. Business generally offer trade discounts to increase sales, while cash discounts are given to recover payments quickly and Post-Sale discounts are given if certain targets are achie...

Read More

Burning Questions in GST with analysis of latest Judgements ( Part-I)

Introduction After four years of implementation of GST, many questions of law are yet unanswered. As Supreme Court of India has noted, ‘Laws must evolve with the times if societies are to progress’. There are many issues in GST which either requires judicial intervention or some concrete action from Parliament. In this article...

Read More

E-Invoice Schema Format – Mandatory Fields

On 30th July 2020 the Central Board of Indirect Taxes and Customs (CBIC) released a notification and introduced the “Schema for E-Invoice” for imposing the e-invoicing. It will be implemented from 01st October 2020, only for entities whose business having a annual turn over of ₹500 Cr. What is E-Invoicing? E-Invoicing or Electronic ...

Read More

Income Tax, GST, FEMA, Customs, DGFT Updates dated 24.07.2021

Indians have invested billions of dollars in cryptocurrencies like Bitcoin, Dogecoin, Ethereum, Binance, Ripple, Matic, and other over popular coins. The trading volume of cryptocurrencies has increased multifold since the nationwide lockdown of last year. According to a recent report, Indian investment in cryptocurrencies grew from $923 ...

Read More

Charity and Mutuality Under GST

INTRODUCTION 1. Charity and mutuality are age-old concepts. The former is done as an act of benevolence. The latter is an arrangement to achieve a common purpose. One undertaking such acts, therefore, needs to appreciate the implications under the GST laws to avoid any undue demands in future. This is more relevant for the reason [&hellip...

Read More

List of reconciliations for GST compliances

One word which stand synonym to GST from compliance perspective is RECONCILIATION! Most of the Consultant’s time or the taxation team of any organization is spent in preparing and undertaking several reconciliations under GST. Because of the same, the demand and market for tax technology solutions have thrived and prospered. Several con...

Read More

Important GST & Income Tax Weekly Newsletter dt. 24.07.2021

In this Volume of GST & Corporate Tax Weekly Newsletter dated 17.07.2021, I bring to you highlights of recent updates, important judgments of last week &Compliance Calendar for the upcoming week in the field of indirect taxation and direct taxation to keep you abreast of all the latest happenings. 1. GST Updates CBIC clarifies on...

Read More

What if GST wrongfully collected and paid to Government

Section 77 of CGST Act, 2017 read with Section 19 of IGST Act, 2017 governs the provisions for Tax wrongfully collected and paid to Central Government or State Government.  The same is decided in the case of Shree Nanak Ferro Alloys (P.) Ltd. v. Union of India and details thereof are as follows:- ♦ Facts […]...

Read More

Section 62 CGST Act – Detailed Analysis

Now-a-days a sms alert is being received to the Tax Payer from the GST Department in regard to non-filing of return. Format of the SMS is as under: Alert SMS:07AA……….ZX is GSTR1 defaulter.Pl file return else best judgment assessment will be done U/s 62 of DGST ACT. Ignore if filed DT&T,GNCTD  What is section 62 […]...

Read More

Browse All Categories

CA, CS, CMA (5,689)
Company Law (7,672)
Custom Duty (8,715)
DGFT (4,623)
Excise Duty (4,527)
Fema / RBI (4,813)
Finance (5,182)
Income Tax (38,433)
SEBI (4,131)
Service Tax (3,778)

Search Posts by Date

September 2021