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This article (more a collation of thoughts) is a sequel to the first on goal setting. Many students and practitioners may wonder on whether their dreams and plans would actually be achieved. The structured approach [ using planners, reminder and to do list enabled in any normal software program could be a big support]  to achieve any action would no doubt be a bit challenging at take off stage. Once started inevitably one come across hurdles. The road bumps could detract one from...

“The essence of law lies in the spirit, not its letter, for the letter is significant only as being the external manifestation of the intention that underlies it” – Salmond

Introduction

Interest in taxation matters is an automatic levy and compensatory in nature, for withholding the money of the Government by delay in payment of tax within due date. It is a mechanism to compensate the revenue for the loss caused to it due to the late payment[1]. The overall context of levy...

Introduction

Completed 3 years in operation but still struggling to rise-up to the average expectations of the stakeholders; GST has proved to be a loop of extension of compliance deadlines. The main reason behind such extensions is incompetent and incapable GSTN network which crashes every now and then #gstnfailed. One such compliance is the filing of Annual Return (Form GSTR 9) and GST Audit (Form GSTR 9C). As of now, the due date of filing GSTR 9 and GSTR 9C is fast approaching and is...

Some judgments are timeless. For their infinite intellect, the decisions serves as bible for the Courts to come and legislator to penetrate. Some others however need to go with the lapse of time, for that they are not needed anymore or for their inherent flaws.

The present piece examines some of the rulings by the Hon’ble Supreme Court rendered in the context of earlier indirect tax laws, which are in dire need of correction in as much as their extrapolation on the GST code is imminent...

I. Concept of delegated legislation

P. Ramanatha Aiyar’s, The Law Lexicon, defines delegation as an act of making or commissioning a delegate. Subordinate/delegated legislation is a process by which the executive is given powers by primary legislation to make laws in order to implement and administer the requirements of that primary legislation. Thus, the phrase “to implement and administer the requirements of that primary legislation” defines the boundaries or the scope for...

We are all aware that COVID 19 pandemic has a great impact on the economy and non-compliance under any tax law due to cash flow has led to the payment of interest, late fee, and penalty. Generally, September is the compliance month for tax laws such as Income tax or GST law (previous financial year compliance).

Study of GST trend from inception, relaxation for rectification of errors, or omission only for FY 2017-18 transaction up to due date of furnishing GSTR 1 of March 2019. However,...

Introduction:

Government of India through the Central Board of Indirect Taxes and Customs (CBIC) has announced a scheme of Customs Bonded manufacturing cum warehousing commonly known as MOOWR i.e. Manufacturing and other operations in a Warehouse. In order to promote manufacturing & other operations in India and to strengthen the initiative of Aatma Nirbhar Bharat (Self Reliant India), the bonded manufacturing scheme allows the importers to import the raw materials and capital goods...

As the world is reeling under the impact of Covid-19, most donations made in India, would qualify as a Corporate Social Responsibility (CSR) activity. These donations may be in the form of cash or in kind such as PPE kits, sanitisers etc. This article aims at analysing the impact of GST on CSR activities/expenditure.

What is CSR?

CSR is a corporate entity’s way of giving back to the society from which it draws all its resources, personnel and business for the betterment of its...

The Reverse Charge Mechanism (RCM) derives it base from the era of Service Tax where it was introduced firstly in case of GTA’s and Clearing and forwarding agents in 1997. Since the provisions for levy of service tax were inconsistent for recovery of tax under RCM, its levy was questioned by The Apex Court in case of “Laghu Udyog Bharti V/s UOI (112) E.L.T. 365(SC)”.  To overrule the said judgment Section 68(2) was incorporated in The Finance Act, 1994. The government with the motive...