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Section 51 of the Central Goods and Services Tax Act, 2017 (Act) is the provision relating to Tax deduction at Source (TDS) under GST, as per which certain recipients (‘customer’), as mentioned in the said provision and also notified vide various notifications, are required to deduct 1 % from payment made or credited to supplier of taxable goods or services and remit to the Government exchequer. This provision has come into force w.e.f. 01-10-2018[1].

However, there is a confusion in...

Introduction

Action of departmental audits ma impact the landscape of annual return filing. Considering the various changes in the GST law in the past year, this article aims to provide clarity on the filing of annual returns (Form GSTR 9) and reconciliation statement (Form GSTR 9C) along with required reconciliations, best practices, advanced issues & solutions and tips as applicable for financial year (FY) 2023-24.

Due date – 31^st December 2024. The due date is not expected to be...

Introduction

The ability to prefer an appeal in the litigation process is a given. Although there have been many instances where, due to the timing of presenting the appeal, it has been rejected due to time limitations. There have been few for and few against decisions by various high courts in GST. In this article, we deliberate on the applicability of time limitations under the GST law and take the readers through various judgements to arrive at a reasonable conclusion in this regard.... Read more

Background:

In the recent times, GST Department by exercising the powers bestowed on them by way of Section 65 of the CGST Act 2017, has been raising the audit observations stating that GST shall be paid on the inter-company loans given amongst the related person under the GST.

It can be re-called at this juncture, in the past GST Department has been raising the similar demands alleging that the activity of holding shares by a holding company of the  subsidiary company will be...

GST related issues – EV segment

1. GST Implication on Government Subsidy (FAME)
2. GST on Passenger Transportation Sector – EVs
3. GST on sale of used/old Electric Vehicles

Introduction – EV Segment & GST links

The electric vehicle (EV) industry in India is experiencing a significant boom, driven by various factors including government initiatives, technological advancements, and increasing consumer demand. We will look into issues concerning GST aspects of it,...