Employer obligatory services eligible for GST ITC

  • Category: Input Tax Credit
  • Date: 21-03-2020
  • Writers: CA Madhukar N Hiregange, CA Mahadev R

Continuous supply of goods – Reduction in other compliance

  • Category: Levy and supply
  • Date: 17-03-2020
  • Writers: CA Madhukar N Hiregange, CA Mahadev R

GST law has introduced a lot of new concepts in Indian indirect tax system such as levy of tax on inter-State stock transfers to branches, cross charge mechanism, taxation of gifts distributed to employees etc. One of such new concepts is a continuous supply of goods and its taxation. Most of us agree that the introduction of GST has resulted in increased (rather than reducing) compliance for the registered persons (SME) and the professionals (SMP). Few of the reasons are complicated...

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Summary of decisions taken by the GST Council in 39th Meeting on 14th March 2020

  • Category: GST Updates
  • Date: 17-03-2020
  • Writer: Hiregange Team
  1. Changes in GST rates recommended:

[proposed to be made effective from 1stApril 2020]

Supply of goods/ service

Present GST rate

Proposed by GST council

Mobile Phones & specified parts

12%

18%

All types of Matches

Handmade: 5%

 Others: 18%

12%

Maintenance, Repair and Overhaul (MRO) Services for aircrafts

...
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Continuous supply of goods – Reduction in other compliance

  • Category: GST
  • Date: 17-03-2020
  • Writers: CA Madhukar N Hiregange, CA Mahadev R

Summary of Decisions taken by GST Council-39th Meeting-f -TH

  • Category: GST Updates
  • Date: 17-03-2020
  • Writer: Hiregange Team

Impact – Wrong type of tax paid and wrong claim of ITC

  • Category: Levy and supply
  • Date: 16-03-2020
  • Writers: CA Madhukar N Hiregange, CA Mahadev R

The GST audit season for 18-19 has started and recently the due date also proposed to get extended till 30th June 2020 for filing the reconciliation statement in form GSTR-9C and annual return in form GSTR-9 and GSTR-9A for the FY 2018-19. GST being a new law, there were (are) lot of confusion in the understanding of the law which could have led to non-compliance, errors in payments, claim of ITC etc. Few of them could have get clarified. Now, during the audit or annual return process,...

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Reply to 16(4) Notice

  • Category: assessment and litigation
  • Date: 16-03-2020
  • Writer: CA Lakshman K

Date: ________

To

The Jurisdictional Officer,

______ Division,

______ Commissionerate

 

Dear Sir,

Sub: Reply to the notice received for reversal of Input Tax Credit

Ref: Your letter dated __________ bearing DIN ___________________

 

1. We are in receipt of the above-referred letter dated _______ directing us to reverse the input tax credit availed for the month of March 2019 stating that such input tax credit is irregular under Section 16(4) of CGST Act, 2017...

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Reply to 16(4) Notice

  • Category: GST
  • Date: 16-03-2020
  • Writer: CA Lakshman K

Impact – Wrong type of tax paid and wrong claim of ITC

  • Category: GST
  • Date: 16-03-2020
  • Writers: CA Madhukar N Hiregange, CA Mahadev R

GST on discount given by the manufacturer to distributor for supplies made to the customers

  • Category: Levy and supply
  • Date: 14-03-2020
  • Writer: CA Shilpi Jain

There are different kinds of discounts that are offered by various suppliers, being manufactures, as per their marketing/business promotion requirements. In this article we are examining one such discount being offered by the manufacturers to its distributors, which is given on a condition that it has to be passed on to the customer. In some cases it is reimbursed by the manufacturers only after the proof of passing the discount to the customer is provided.

Say for instance, a...

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