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The objective of writing this detailed article is to create awareness among taxpayers, as to how impactful a reply to notice can be made. We have also provided links to our previous articles, which may be referred for in-depth analysis.

Key takeaways from this article –

• Create awareness among taxpayers, the importance of responding to letters/notices issued by the department.
• Knowing the means of communication of notice by the department under GST
• How to handle such notices,...

1. Introduction and background

The COVID-19 crisis has caused an unprecedented crisis in various aspects of "life". In India, the 2nd wave is having a devastating effect in terms of number of causalities, contributed by the lack of health care facilities (beds & oxygen), the shortage of medical supplies, doctors and nurses and vaccines. In a desperate attempt to fulfil the shortages, the government reduced IGST on the oxygen concentrator to 12%, when imported as gift. 

But this...

GST was undoubtedly the biggest indirect tax reform in India on paper.  The vision was of transformation of the mindset, best international principles, simplified, easy to comply law with least amount of intervention. It should have given an additional push to the trad/ industry.

However, the hurried implementation, poor drafting, 1000s of changes by way of notifications/ circulars, untested technology, no change management of worth have whittled down its advantages significantly....

Introduction

Under taxation, levy plays a vital role which requires meticulous observation and analysis of a transaction in line with statue and whether it falls in taxability bracket. In the GST era, interest implication can be for delay in discharge of taxes, short discharge of taxes, wrong availment of credit, and so on. This article provides brief discussion on what is the exact terminology of interest, scope of levy, analysis of section 50 read with section73/74 and interpretation...

Introduction

Coronavirus (COVID-19), a virus that grew stealthily from the end of 2019 has become one of the deadliest viruses that is killing people worldwide. The normal life in India was disrupted due to lockdown, restrictions on commutation etc. due to covid. It affected almost all the industries in India and the second wave of COVID-19 in India (during 2021) has an increased death rate comparing to the previous. Further, more than the infection from the disease, the financial burden...

Introduction

Recently, there have been multiple amendments and notifications under GST. This leads to difficulty in confirming whether an entity is in compliance with the GST law or not. Some of the recent changes are:

• E-invoicing being introduced in a phased manner from October 2020.
• Finance Act 2021, having major modifications but not yet notified
• Pandemic lockdown related notifications
• Rule 36(4) – 5?-hoc credit reduction and validity

Considering industry hardship...

The Hon’ble Prime Minister said that “the government, the states, the industry and the transporters, and all the hospitals need to come together and work in unison. The better the synergy and coordination, the easier it will be able to deal with this challenge”.  The “challenge” he was referring to, was the challenge of meeting the massive demand of life saving oxygen gas, pursuant to surge in Covid cases. Further, he promised “full support” to the above warriors in combating...