GST ON Prepaid Payment Instruments-The Cauldron of various ingredients.

July 21, 2021
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PREAMBLE The explosion of use of technology in India has led to a massive spike in the trade that is conducted in the E-Com platform. Also, with the ever increasing Fin-Tech and Med-Tech space offering various hybrid models of doing business in that space, the usage of e-vouchers have gained…

June 25, 2021
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We embarked on this wonderful journey on June 26, 2020. The first year has been nothing short of an amazing experience for Novello Advisors LLP. Novello, the Child of disruption theory envisaged in the middle of the first Covid Pandemic has fared well and far beyond expectations. For any Consulting…

June 10, 2021
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BRIEF FACTS OF THE CASE The Petitioner of the case is the proprietor of M/s. Dynatex International which is registered under the CGST Act which has its registered office at Andheri (West), Mumbai. They are a service provider supplying marketing and promotion services, to solicit Purchase orders in India, to…

May 6, 2021
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Preamble Goods and Service Tax is considered as reform in the history of indirect taxes in the country as it aimed at subsuming a range of Indirect taxes at both central and state level. The GST Act was implemented in July 2017 with an aim to not just subsume the…

April 16, 2021
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What is E-commerce? As per Section 2(44) of the CGST Act, 2017, electronic Commerce means the supply of goods or services or both, including digital products over digital or electronic network. From the definition, E commerce means the supply of goods or services or both over digital or electronic network…

March 27, 2021
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The benefits of the FTP are massive and is intended to ensure that the taxes paid on the inputs, input services and the capital goods used for production of goods or in the rendition of services are Zero rated in two ways. In the first methodology an exemption is given…

March 20, 2021
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Introduction Cross Border Trade has played a pivotal role in making various countries part of the global village. International trade emerged from the concept of theory of comparative advantage. Theory of comparative advantage essentially means the ability of a country to produce certain goods or services at a lower opportunity…

February 12, 2021
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BACKGROUND In October 2019, based on a complaint filed by the US, the World Trade Organization (WTO) panel report ruled that India’s export subsidy schemes flouted its guidelines as the country’s Gross National Income (GNI) had exceeded the per capita USD 1000 annual threshold above which members were banned from…

February 6, 2021
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The Hon’ble FM in the Union Budget 2021 announced the introduction of a New Cess for financing agricultural infrastructure and development expenditure called Agricultural Infrastructure and Development. The said Cess has been made applicable to 25 items effective from February 02, 2021. FINANCE BILL 2021 THE IMPOSITION OF AIDC AS…

February 6, 2021
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The Finance Bill, 2021 seeks to amend the timelines for filing the Bill of Entry to a day before the arrival of Imported Goods. CUSTOMS ACT, 1962 In terms of the Customs Act, 1962, the time limit for filing Bill of Entry is set out under sub-section 3 of section…

Year: 2021

GST ON Prepaid Payment Instruments-The Cauldron of various ingredients.

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