Department’s high-handedness in issuing GST Show Cause Notices for FY 2017-18 CBIC extended time limit for issuance of Show Cause Notices (‘SCN’) for FY 2017-18 till September 30, 2023. This time limit is for SCN issued under Section 73 of the CGST Act. As last date...
Eligibility of ITC on residential dwelling provided to Directors, Employees etc. GST on renting of residential dwelling to registered person became applicable under RCM effective July 18, 2022. This change had far-reaching impact since many taxpayers take residential...
GST implications on ESOP transactions Companies often grant shares or share options to their employees. Employee Stock Option Plan (‘ESOP’) is an arrangement between the Company and its employee which entitles employee to receive shares of respective Company or Group...
Recent issues under Legal Metrology Laws The Legal Metrology (Packaged Commodities) Rules, 2011 (‘LMPC Rules’) enlists various declarations to be made on retail and wholesale packages. Of-late there is a surge in onsite inspections and issuance of notices alleging...
NITYA Outlook | Issue 146 | GST implication of services provided by Directors Service supplied by Director of Company to said Company is notified under Reverse Charge Mechanism (‘RCM’) on which tax is payable by recipient i.e. Company. Recently, CBIC issued...
NITYA Outlook | Issue 145 | Availability of FTP Amnesty Scheme for domestic procurements The Government introduced One time Amnesty Scheme (‘Scheme’) vide Public Notice No. 2/2023 dated April 1, 2023 for exporters grappling with pending default in Export Obligation...
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