Service Tax /GST on dealer Credits – An incredible attempt to Tax!
Poonam Harjani, Partner, NITYA Tax Associates This article co-author by Mr. Ashutosh Mishra (Associate)"The Oldest, shortest words — yes' and 'no' are those which require the most thought"-PythagorasTo Read More, Please click on the below mentioned link:Service Tax...
ITC on construction of building used for further letting out
This is to apprise you about a recent judgement of Orissa High Court in the case of Safari Retreats Private Limited v. UOI, 2019-VIL-223-ORI. The High Court was dealing with the issue of availability of ITC on construction of building used for further letting out.In...
AAR Update | Allocation of expenses by Head Office as supply
This is to apprise you regarding the recent Maharashtra Advance Ruling in the case of Cummins India Limited, 2019-VIL-62-AAR. In this case, the Authority for Advance Ruling (‘AAR’) inter-alia held that the activity of allocation of expenses relating to...
Fiscal incentives granted by various State Governments
Due to the federal governing structure in India, the State Governments (in addition to the Central Government) continue to scale up the level of industrialization in their region. To attain this objective, the State Governments formulate industrial policies and offer...
34th GST Council Meeting dated March 19, 2019
The GST Council in its 34th Meeting held on March 19, 2019, discussed the modus operandi for implementation of lower GST rate of 1 percent on Affordable houses and 5 percent on houses other than Affordable houses (‘Other houses’) for ongoing and new...
GST liability under reverse charge on services received from Government
Taxpayers routinely pay various amounts to Government in form of taxes, cesses, fees etc. Some of the taxpayers are not aware of the fact that services received from Government are covered under reverse charge and they are liable to pay GST on such services. This...
No need to debit Social Welfare Surcharge (‘SWS’) where customs duties are paid through scrips
Education Cess (‘EC’) and Senior and Higher Education Cess (‘SHEC’) were levied on all imported goods as a duty of customs till it was abolished vide Finance Act, 2018. Subsequently, the Government levied Social Welfare Surcharge (‘SWS’) at the rate of 10 percent of...
Revised timeline for taking Input Tax Credit pertaining to Financial Year 2017-18
This is to apprise you regarding the revised timeline for availment of Input Tax Credit (‘ITC’) of invoices of Financial Year (‘FY’) 2017-18 and debit notes pertaining to invoices of FY 2017-18.In our update dated November 26, 2018, we discussed last date for availing...
Input tax credit availability where ITC is not reflected in GSTR-2A or where the supplier has not deposited GST
One of the major worries occupying taxpayers’ mind these days is the availability of Input Tax Credit (‘ITC’) where ITC is not reflected in GSTR-2A or where the supplier has not deposited GST in the government account.In this update, we will discuss the legal position...