Payment to vendor – A mandatory condition for availing ITC: Multiple absurdities (Part-2) The Part 1 of Article on captioned topic revolved around various flaws in Second Proviso to Section 16(2) of the CGST Act & also highlighted how corresponding Rule 37 was a...
Taxability of Extra Neutral Alcohol: Eluding an Inevitable? “Taxability of Extra Neutral Alcohol (‘ENA’) has been a matter of much deliberation even after nearly five and a half years of introduction of GST. Recently, the GST Council in its 48th meeting proposed to...
Imported weights and measures for self-consumption: An ‘un-registered’ analysis The Legal Metrology Act, 2009 (‘LMA’) and allied Rules were enacted to safeguard every consumer’s interests. The LMA provides for different registration and licensing requirements to...
Rule 37A– A failed attempt to fight a losing battle In GST, eligibility to avail Input Tax Credit is subject to many conditions and restrictions. One such condition is that ‘supplier should have paid tax to the Government’ [Section 16(2)(c)] which has been facing...
Verification of mismatched ITC – Whether a stitch in time? Squinting through the ocean of notices demanding ITC due to differences between GSTR-3B and GSTR-2A, taxpayers looked for a stitch in time to save their nine for a very long time. The pandora of rulings...
0*10% not equal to 0; tax laws running against basic mathematics The cardinal multiplication rule in mathematics stipulates that anything multiplied by zero gives end result as zero. However, Larger Bench of the Supreme Court held that cess / surcharge (levied as a...
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