Blogs

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...

GST - Immediate compliances to be taken in Unlock 1

The pandemic did hit the Pause button for all the commercial activities. Slowdown of entire economy is having its impact leading to occurrence of various events which lack any precedence in the recent past. However, with Unlock 1, there has been a resumption of commercial activities in a phased manner, it is important for the businesses to understand the various compliances more specifically the ones that become due in the month of June...

The power to impose sales tax/VAT flows from Entry 54 of List II of Schedule VII of the Constitution of India. Under Article 366(29A) of the Constitution of India, “tax on the sale or purchase of goods” includes

1. a tax on the transfer, otherwise than in pursuance of a contract, of property in any goods for cash, deferred payment or other valuable consideration;
2. a tax on the transfer of property in goods (whether as goods or in some other form) involved in the execution of a works...