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Input Tax Credit Pertaining to Exempt Supplies and Reverse Charge Mechanism
Overview: The provisions for Input Tax Credit (ITC) under the Goods and Services Tax (GST) framework, specifically under Section 17, elaborate on the handling of credits when resources are utilized fo...
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GST on Mining Royalties Post Landmark Supreme Court Verdict: Has Final Clarity Been Achieved?
Overview: A recent decision by the Supreme Court's nine-judge bench clarified that mining royalties are contract-based payments between the mining lessee and the state, rather than a form of taxation....
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Madras High Court Confirms Intelligence Officers' Authority Under GST
Overview: The Madras High Court case, Tvl. Sri Paranjothi Traders v. State Tax Officer (Intelligence), affirmed the capacity of a State Intelligence Officer to issue orders under the Central Goods and...
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Evaluation of Input Tax Credit on Construction-Related Activities in GST
Overview of the Supreme Court RulingThe Supreme Court dealt with the issue of eligibility for Input Tax Credit (ITC) on construction-related activities in India, as outlined in the case of Chief Commi...
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GST Not Applicable on Extra Neutral Alcohol for Alcoholic Liquor Production in India
OverviewThe taxation of Extra Neutral Alcohol (ENA) in India has been under debate due to its dual use in making both drinkable and industrial alcohol. Alcoholic beverages for human drinking purposes...
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GST Amnesty Initiative 2024: Relief from Interest and Penalties
OverviewThe GST Amnesty Initiative for 2024, effective starting November 1, 2024, involves modifications in the CGST Act encompassing Section 128A and Rule 164. These amendments focus on waiving inter...
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GST Compliance Timetable for November 2024
Updated GST Compliance Timetable for November 2024OverviewNovember 2024 marks an important period for businesses to focus on their GST compliance obligations to ensure smooth functioning and to preven...
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New Reverse Charge Mechanism Time of Supply Regulations from 1st November 2024
Overview:The Finance (No. 2) Act of 2024 introduces significant amendments to the CGST Act, effective from November 1, 2024, impacting the time of supply rules for transactions under the Reverse Charg...
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GST Amnesty Scheme 128A: Waiver of Interest and Penalty for FY 2017-18, 2018-19, and 2019-20
1. Overview of GST Amnesty Scheme 128AThe GST Amnesty Scheme under Section 128A is designed to provide relief to assessees concerning non-fraudulent tax liabilities for the fiscal years 2017-18, 2018-...
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Understanding Composite and Mixed Supply Under GST
In many scenarios, vendors provide their offerings as bundles or packages, which may be inherently associated or otherwise. These combined supplies might include multiple goods or services or a mix of...
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Complexities of Section 74 in Launching Proceedings Under GST Regulations
Understanding the Complexities of Section 74 for Initiating GST ProceedingsOverviewUnder the GST framework, Sections 73 and 74 of the CGST Act outline the procedure for addressing unpaid or insufficie...
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Online Acknowledgment Date as GST Appeal Filing Date: Karnataka High Court Decision
1. IntroductionSummary: In an important judgment involving Hitachi Energy India Ltd. against the State of Karnataka and others, the Karnataka High Court tackled whether the date of receiving an online...
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GST Obligations on Metal Scrap Transactions for Buyers and Sellers
Overview: On September 9, 2024, during the 54th GST Council Meeting, updates were introduced addressing GST compliance for metal scrap transactions, effective from October 10, 2024. Assessees register...
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Interest and Penalty Waiver under Section 128A of the CGST Act
Overview of Section 128A of the CGST ActSection 128A of the Central Goods and Services Tax (CGST) Act facilitates the exemption of interest, penalty, or both in connection with demands arising under S...
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TDS Provisions Under GST for the Metal Scrap Industry
OverviewThe introduction of Tax Deducted at Source (TDS) under the Goods and Services Tax (GST) framework has recently been extended beyond government bodies and public sector undertakings, now encomp...
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VAT Registration & Compliance in UAE
Comprehensive Overview of VAT Registration & Compliance in UAEVAT registration in the UAE involves submitting essential details such as trade licenses, identification of business owners, and financial...
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Comprehensive Overview of the New Invoice Management System (IMS)
Introduction of the IMSThe GST portal has unveiled a novel tool designed to assist assessees in handling discrepancies or revisions relating to invoices with their vendors. This tool, called the Invoi...
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Analyzing the Nature of BOT Contracts: Works Contracts under Commercial and Entry Tax Acts
Comprehending BOT Projects and Concession AgreementsBOT schemes, or Build, Operate, and Transfer models, necessitate developers, termed Concessionaires, to erect infrastructure through their own funds...
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Examination of Section 29(2)(c): Return Filings Before GST Registration Cancellation
Key Insights into Section 29(2)(c) of the CGST Act on Return Filings and Registration CancellationThe Central Goods and Services Tax (CGST) Act includes a significant provision under Section 29(2)(c)...
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Understanding GST Implications for Deceased Taxpayers: Analyzing Section 93 of the GST Act
In a landmark judgment, the Delhi High Court clarified the application of GST notices to individuals who have passed away, focusing particularly on the obligations of their legal representatives. This...