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Section 51 of the GST Act: TDS Deduction by Designated Entities
Overview: Under Section 51 of the GST Act, certain specified entities are obligated to deduct Tax Deducted at Source (TDS) on payments for goods or services when specific conditions are satisfied. The...
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Revised Procedures for Credit Notes Based on Recommendations from the 55th GST Council Meeting
Comprehensive Overview of Credit Note Modifications as Suggested by the 55th GST Council Meeting under GST Law, 2017In summary, the 55th GST Council Meeting has proposed several amendments concerning...
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Leasehold Assignments and GST: Insights from Gujarat High Court’s Decision
Understanding the Case BackgroundThe Gujarat High Court deliberated on the matter concerning the classification of the assignment of leasehold rights in industrial plots as a taxable service under the...
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Central GST Department Must Issue Orders/Documents in Both Hindi and English
The Andhra Pradesh High Court has established a mandate in the case Subodh Enterprises v. Union of India [WP No. 10343 of 2024, dated August 05, 2024], whereby the Central GST Department is required t...
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Examining Section 70 of the GST Act, 2017: Authority to Summon
This article offers a detailed examination of Section 70 of the Central Goods and Services Tax Act, 2017, discussing its implementation, the authority it grants, and the specific circumstances in whic...
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Section 16(2)(c) of CGST Act: Navigating the Balance Between Revenue Protection and Assessee Rights in ITC
Overview of Input Tax Credit (ITC) in the GST FrameworkUnder the GST umbrella, Input Tax Credit (ITC) plays a pivotal role. Since the implementation of the GST Act in 2017, the criteria for availing I...
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Allocation of ITC to Incorrect Tax Heads: A Pathway
IntroductionGST Framework: The GST legislation embodies the principle of “One Nation, One Tax, and One Market,” integrating multiple taxes into a singular system, categorized based on the place of sup...
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Input Tax Credit under Section 16(2)(c) and Support for Genuine Purchases
Input Tax Credit under Section 16(2)(c)1. Interpretation of Section 16(2)(c) of the CGST/AGST Act, 2017Under Section 16(2)(c), it is mandated that the tax levied on such supply has been paid to the Go...
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February 2025 Compliance Deadlines for Income Tax and GST in India
Income Tax ObligationsTDS/TCS Payments: Assessees must deposit tax deducted or collected at source for January 2025 by February 7, 2025. The government offices must remit such taxes on the same day wi...
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GST Updates from GSTN in January 2025: Enhancements and Precautions
OverviewJanuary 2025 witnessed crucial updates from the GST Network (GSTN) aimed at streamlining compliance procedures and ensuring efficient operations for assessees. Noteworthy enhancements include...
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GST Revisions in Restaurant Services
Overview: Since its implementation in July 2017, the Goods and Services Tax (GST) relating to restaurant services has seen substantial modifications. Initially, the rates depended on factors such as t...
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Are Demat Provisions Mandatory for a Private Company that is a Wholly-Owned Subsidiary of a Public Company?
IntroductionThe Ministry of Corporate Affairs amended the Companies (Prospectus and Allotment of Securities) Rules, 2014, by introducing Rule 9B through a notification dated October 27, 2023. This mod...
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Navigating the Complexities of GST and Leasing in the Automobile Industry
In the current global discourse surrounding green transportation and sustainability, electric vehicles (EVs) and innovative financing methods like leasing are at the forefront. As countries work towar...
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Comprehensive Analysis of TDS and RCM Under GST for Metal Scrap Transactions
The Goods and Services Tax (GST) framework includes provisions for Tax Deducted at Source (TDS), initially applicable only to government entities and public sector units as per Section 51 of the Centr...
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Navigating GST Registration for International Entities in India Amid E-commerce Expansion
IntroductionGrowth of E-commerce in India: International businesses are increasingly leveraging the surge in Indian e-commerce, leveraging digital platforms to penetrate new markets and overcome geogr...
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Review of GST Audit and Financial Statements (GSTR 9 & GSTR-9C)
1. Evaluating Audited Financial Statements from a GST Perspective (GSTR 9 & 9C)GST audits are critical for ensuring adherence to the Goods and Services Tax statutes; they validate the truthfulness of...
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In-Depth Analysis of GST Return Examination by the Competent Officer
OverviewThe examination of tax returns under the Central Goods and Services Tax (CGST) Act, 2017, plays a pivotal role in ensuring adherence to GST regulations and reducing inconsistencies in tax subm...
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Evaluating Rule 86B of the CGST Rules 2017: Limitations on Utilization of ITC
Rule 86B, added to the Central Goods and Services Tax (CGST) Rules, 2017 through Notification No. 94/2020, became operative on January 1, 2021. This rule serves to combat fraudulent activities within...
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Key Insights into Amendments on GST Provisions: Sections 16 and 128A
Overview: The recent modifications in the GST Act affecting Sections 16 and 128A bring substantial changes in the context of Input Tax Credit (ITC) claims and related tax relief measures. The Supreme...
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Classification of Geo Membrane under Indian Tariff: Gujarat High Court Ruling
Overview: Gujarat High Court recently addressed the classification of Geo Membrane products in the case of M/s Ananta Synthetic Innovations v. State of Gujarat [Special Civil Application No. 504 of 20...