Maharashtra Appellate Authority for Advance Ruling in the case of Vertiv Energy Pvt Ltd 2020-TIOL-50-AAAR-GST has ruled when the goods are supplied from one registration and the installation of such goods has been made from different registration would not be a composite supply.
Facts:
The world is changing and if one is not aware of what the future is and what major changes are taking place in the future, one may not be able to sustain the practice. The users, needs of users, method of delivery, form of delivery among many others would change. The speed of change is amazing. Yesterday we were talking of what the millennials need today, we have started on the Gen Z. Technology and automation is increasingly replacing the professional’s routine jobs (reconciliations,...
Read moreIndian polity forced India to adopt the dual GST model where both the Centre and the State would collectively levy and collect GST. Before the insertion of Article 246A in the Constitution of India (COI), both the Parliament (P) and Legislature of the States (SLs) possessed independent powers to levy and collect taxes on different mutually exclusive aspects. Both the functionaries’ tried to maintain respectable distance with the legislative field belonging to the other. The conflicts, if...
Read moreThis Article has been published in the Chamber's Journal Oct'20 Edition
The credits mentioned in section 17(5) of the CGST Act, 2017 are blocked and would not be eligible to the assessee even if used by him for business. All credits other than these, if used for making taxable supplies, would be eligible, provided the other conditions in the law are also satisfied. Hence it is important to understand the scope and ambit of these blocked credits to ensure that the assessee does not lose...
Read moreThe exploding power of the internet along with search engines like Linked in, Google, Meet up, Face Book- professional networks, Xing, Zoom etc. have made answers to basic questions available at a click or couple of clicks. The googles, amazons, flipcarts, have ensured that all smart phones come with so much capability and pre loaded utilities that one is marrying into the UNKNOWN. Unfortunately, they have/ are becoming the monopolies of the world. Bigger than many smaller countries /...
Read moreIn my life, the cost of postponing by days, months and at times years of important aspects of life, profession included has been enormous when the past put though this filter. Since majority of time is in profession, the bulk of incidents where I have not done, not started, delayed decisions, commitments has had the effect of pulling me back, slowing me down. I have in fact postponed the exercise to introspect on this aspect for at least a few years. It is a fact that even highly driven and...
Read moreThe pandemic is a wake-up call for all of us to really look at what is important in our life. We were forced to become- minimalist- that is what monks/ sages are always. It put in perspective our hollow normal ways of being, introspection on the rat race which we have been involved in. Thanks to my joining Rotary more than 2 decade back, the early introduction to philanthropy gave me an immense opportunity to grow as a person and a good patriot and citizen. Since this has also supported my...
Read moreWe have in the preceding 8 articles discussed the importance of continued enhancement of knowledge, skill and experience. All growth-oriented professionals would need to focus on ensuring excellent quality of work delivered consistently in time. Normally, after a few years the improvement plateaus and stops. One wonders why the better work/ better clients do not come in/ clients do not come again for repeat work. Peter Druker the noted economist observed that quality is not what you put into...
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