Interest on ITC: Retrospective amendment and journey ahead! GST has been a game of trial and error wherein slew of debatable issues have been ironed out by way of prospective and retrospective amendments in the past five years. Levy of interest under GST has been a...
Service Tax on secondment of employees: Unsettling the settled! In another landmark move, Supreme Court in case of CC,CE&ST v. Northern Operating Systems Private Limited, 2022-VIL-31-SC-ST, has upheld levy of service tax on employee secondment arrangement between...
Levy of Ocean Freight under GST: Not all is well, even if it ends well! In a landmark move, the Supreme Court in the case of UOI v. Mohit Minerals Private Limited, 2022- VIL-30-SC, upheld the judgment of the Gujarat High Court in the case of Mohit Minerals Private...
Short payment of IGST on imports – Customary to recover, but why dispute Credit eligibility? Over a period of time, recovery of differential duty (post clearance of imports) has become a common practice of the department. Typically, the taxpayer pays such differential...
Inverted duty structure – A turmoil for Traders GST law was introduced with the objective of eliminating cascading effects and having seamless flow of credit throughout supply chain. On the contrary, inverted duty structure divulges a situation when tax on inputs is...
Outright Exemptions on import of goods by Advance Authorization holders / EPCG holders / EOUs – Strangled between uncertain destiny!! GST was announced in July 2017 calling it ‘Good and Simple Tax’. An unplanned introduction meant that several systems were not ready,...
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