Table of Contents Measures for Trade FacilitationWhat Pawan Arora, Partner @ Athena Law Associates has to say about measures1. Easing compliance of Annual Return for FY 2020-212. Burden of Late fees reduced from prospective tax periods3. Some more relaxations recommended as so-called Covid-19 relief4. Amnesty
Table of Contents Case Covered:Facts of the Case:Observations of the Hon’ble Court:The Decision of the Court:Read & Download the full Decision in pdf: Case Covered: R.R. Distributors Pvt. Ltd. Versus Commissioner Of Central Tax, GST, Delhi North Facts of the Case: The present petition was
Table of Contents OverviewProposed Changes In 43rd GSTC MeetingSectoral BenefitsRead & download the full Copy in pdf: Overview No. of GSTC Meetings 18 Meetings→ Pre–GST(Before 01.07.17) 8 Meetings→ 2018–2019 3 Meetings → 2020–2021 2017–2018→ 8 Meetings 2019–2020→ 5 Meetings Reducing Frequency? 40th Meeting→ 12th June
Will ITC be reversed on Mismatch between the supplier and recipient? Critical Provisions for Denial of ITC Mismatch As per Sec 16(2)(c) of CGST Act, ITC shall be claimed only in case, the tax charged in respect of such supply has been actually paid to
Table of Contents A. Annual Return For The Financial Year 2020-21:B. Interest On Net Cash Basis W.e.f. 01.07.2017: Retrospective Amendment In Section 50 Of The CGST ActC. Covid-19 Related Relief Measures For Taxpayers:D. Measures For Trade Facilitation:E. GST Rates –F. Clarification Has Been Issued In
Following is our analysis of the recommendations made in the 43rd GST Council meeting: Table of Contents Reduced late fees for taxpayers filing GSTR-3B between 1st June 2021 -31st August 2021Rationalization of Late Fees for prospective tax periodsReduction of Late fees and Interest for returns
Input Tax Credit’ (‘ITC’) is the ‘soul’ of the ‘Goods and Services Tax Act’ (‘GST’), an Indirect Tax policy. The mechanism of ITC plays a significant role in mitigating the adverse impact of ‘Tax on tax’ by enabling the taxpayers to pay the tax
Table of Contents Case Covered:Order of the Hon’ble Court:Read & Download the Order in pdf: Case Covered: Palak Agarwal Vs Central Board Of Direct Taxes Order of the Hon’ble Court: Heard through Video Conferencing. Shri Milind Sharma learned counsel for the petitioner. Shri Sanjay Lal
Government of India vide Finance Act 2021, has introduced a new section 206AB under the Act wherein a buyer is responsible to deduct TDS at a higher rate (i.e., twice the rate as specified under the relevant provision of the Income Tax Act or
“Nobody has a more sacred obligation to obey the law than those who make the law.” [Sophocles] Table of Contents IntroductionLevy of IGST on imports – A legal frameworkExemption from IGST – Statutory frameworkIGST on exemption on imports – Where is the role for
