BlogsAugust 8, 2017
India INC at war against COVID-19 amidst uncertainty over GST Credits
Introduction COVID-19 pandemic has hit everyone hard. The magnitude of this pandemic can be ascertained from the fact that even superpowers appear to be helpless against this invisible enemy. Realizing the gravity of the situation India INC/Corporates/Employers have wholeheartedly contributed to this noble cause and partnered with governments to contain...
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Dynamic QR Code in GST – Another Game Changer?
Introduction Indian GST law is a technology-driven law. GST law has witnessed the successful implementation of technology-based anti-evasion tools like E-way bills and E-Invoicing. Results of the successful implementation of such tools are visible in the form of consistent increase in revenue collections and large-scale detection of hawala and other...
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Input Service Distributor and Cross Charge
Input Service Distributor (ISD) Input Service Distribution and Cross charge owes its existence to the concept of “Distinct Person”. It is pertinent to note that concept of ISD is relevant only for entities having multistate operations and commonly used input services are ordered and invoiced at one location. ISD concept...
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Anti-Profiteering Provision
Rationale for Anti Profiteering Provisions Invariably all the countries implementing GST have faced a sudden rise in inflation and the profiteering practices followed by the business community were alleged as one of the reasons for the rise in inflation. Learning from the global experience, anti-profiteering measures have also been inserted in the Indian...
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Interest is perplexing!!!
As per letter of Special Secretary and Member, CBIC dated 10th February, 2020 Interest amounting to ₹45,996 crores remains unpaid to the government on account of delayed payment of tax and urged field formation to expedite recovery of such Interest.
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No more Double Whammy of IGST on CIF Importers
Introduction Levy of Service Tax on ocean freight service has been one of the most disputed issues for Trade and Industry. Unfortunately, the levy of Integrated Goods and Service Tax (IGST) on ocean freight service is equally contentious. In this article an endeavour has been made to analyse Hon’ble Gujarat...
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Guidelines on Detention and Confiscation of Goods and Conveyance
Introduction: In order to ensure that the suppliers do not evade payment of GST(“Tax”), Section 68 of the CGST/ respective state GST Act (“Act”) empowers the Government to prescribe documents to be carried along with the goods in transit. Rule 138A of the Central/State Goods and Services Tax Rules ("Rules")...
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GST Non-Filers and Best Judgment Assessment
Introduction: GST law mandates monthly filing of GSTR-3B (hereinafter 1“Return”) on or before 20th day of succeeding month. As per Section 46 of2 CGST Act read with Rule 68 of3 CGST Rules, Proper officer shall issue in electronic form a notice in Form GSTR-3A (hereinafter “Notice”) requiring defaulting tax payer...
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