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In recent years, the issue of Service Tax/GST liability on the Notice period recovery is a subject matter of dispute. While certain conservative employers have made a choice to pay service tax on such recoveries, certain employers have made bold choices of not paying taxes which were followed by the issuance of the demand notices/orders confirming the service tax demand by the Revenue department. The demands are agitated before various forums and very recently the...

The concept of self-assessment in tax administration was introduced in India with an expectation to usher in a new era of trust-based partnership with the assessees leading to greater facilitation of compliant assessees.

“Circular Trading”, “Fake Bill issue”, “enhanced bill” unfortunately are methods of tax evasion not new in India. Under GST bogus invoices are raised without any actual supply of goods or services or both in several stages culminating finally in no supply or...

“Advance ruling” means a decision/ ruling given to the applicant by the constituted authority on the matters relating to GST provisions

GST being a new law, amended frequently, focusing on revenue leakages has led to a lot of confusion as to the applicability of various provisions of the Act for the transaction undertaken or to be undertaken by the taxpayer. In case the taxpayer takes a wrong decision and remits lesser tax, then he would have to pay the tax along with the interest...

It is usual practice for all the exporters of goods/services to receive money in foreign currency. Few exporters would have EEFC (Exchange Earners' Foreign Currency Account) where they can directly deposit the foreign currency in their account which would be maintained in foreign currency in an Indian Bank. Majority of the exporters would receive money in Indian currency after deduction of remittance charges, conversion charges, etc.

The author in this article tried to explain the...

1. The Central Government had issued Notification No. 8/2017-Integrated Tax (Rate), dated 28.06.2017, notifying the rate of IGST for the services described therein and also the conditions in certain cases.

2. Section 9(3) of the CGST Act, 2017 and 5(3) of the IGST Act, 2017 empowers the Central Government, on the recommendation of the GST Council, may notify the supplies which are liable for payment of GST under RCM by the recipient.

3. Notification No. 10/2017-Integrated Tax (Rate),...