GST Update

Input Service Distributor and Cross Charge

by JIgnesh Kansara|27 April 202127 April 2021|GST, GST Articles, GST Update

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...

Anti-Profiteering Provision

by JIgnesh Kansara|27 April 202127 April 2021|GST, GST Update

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...

Interest is perplexing!!!

by JIgnesh Kansara|14 December 202027 April 2021|GST, GST Articles, GST Update

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.

No more Double Whammy of IGST on CIF Importers

by JIgnesh Kansara|14 December 202027 April 2021|GST, GST Articles, GST Update

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...

Guidelines on Detention and Confiscation of Goods and Conveyance

by JIgnesh Kansara|14 December 202027 April 2021|GST, GST Articles, GST Update

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...

GST Non-Filers and Best Judgment Assessment

by JIgnesh Kansara|14 December 202027 April 2021|GST, GST Articles, GST Update

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...

DISCLAIMER

As per the Chartered Accountants Act 1949 and the guidelines laid down by the Institute of Chartered Accountants of India (ICAI), Chartered Accountants are prohibited from soliciting clients or professional work either directly or indirectly. This website is only intended to provide general information about Jignesh Kansara & Associates (JKACA), Chartered Accountants, its team and the services it renders.

By clicking on “I Agree”, the user acknowledges the following:

The user wishes to gain more information about JKACA for his/her own use on his own accord.
There has been no advertisement, personal communication, invitation or inducement of any sort whatsoever from JKACA or any of its partners to solicit work through its website.
Any information obtained or material downloaded from this website is completely at the user’s volition.
Information contained in the website is not in the nature of professional opinion and would not under any circumstances be equivalent to any profession advice.
JKACA assumes no liability for the interpretation and/or use of the information contained on this website, nor does it offer a warranty of any kind, either expressed or implied. JKACA, its affiliates, agents or employees will under no circumstances be liable to you or anyone else for any decision made or action taken in reliance on the information in this site or for any consequential, special or similar damages.

I Agree I Disagree