WAIVER OF ATTESTATION REQUIREMENT OF AUDIT CERTIFICATION

February 5, 2021
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Goods and Service Tax Act, 2017 was implemented in July 2017. The idea of introducing Annual return was to correct any mistakes occurred in the periodical returns filed. Section 44 of the CGST Act, 2017 provides for furnishing Annual return in Form GSTR-9 while sub-section 5 of section 35 of…

February 5, 2021
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Goods and Service Tax Act, 2017 was implemented in July 2017. One of the primary reasons for introduction of GST was to allow seamless flow of credit. Sec 16 of the CGST Act, 2017 provided for the eligibility and conditions for availing the input tax credit. The legislative provisions regarding…

February 2, 2021
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This note briefly sets out the impact of interest payment on delayed filing of GSTR-3B on account of changes made to section 50 of CGST Act, 2017 (as amended) FINANCE ACT, 2019 NOTIFICATION 63/2020-Central Tax Notification 63/2020-Central Tax dated August 25, 2020 reads as below: “G.S.R. 527(E).—In exercise of the…

February 1, 2021
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SNAPSHOT OF CHANGES IN INDIRECT TAX INCLUDING CUSTOMS AND GST INDIRECT TAXES – BUDGET UPDATES 2021–22 SNAPSHOT OF SALIENT CHANGES IN GST ACTS CGST SCOPE OF SUPPLY The scope of supply as set out in CGST Act, 2017, is sought to be enlarged. A new sub clause (aa) is to…

August 27, 2020
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This note briefly sets out the impact of Notification 63/2020-Central Tax dated August 25, 2020. TEXT OF THE NOTIFICATION “G.S.R. 527(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day…

August 26, 2020
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It was announced by the Hon’ble Finance Minister during the Budget session that many of the claims of drawing the benefits of the Free Trade Arrangements are impairing the interests of the domestic manufacturers, pursuant to which it is widely expected that the Rules of Origin (R OO) are expected…

August 16, 2020
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BACKGROUND In October 2019, based on a complaint filed by the US, the World Trade Organization (WTO) panel report1 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…

August 5, 2020
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CASE SYNOPSIS FACTS OF THE CASE Brief background VKC Footsteps India Pvt. Ltd(hereinafter ‘VKC’) is engaged in the business of manufacture and supply of footwear which attracts GST at the rate of 5%. VKC procures inputs and input services for use in the course of business and avails ITC of…

July 25, 2020
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July 12, 2020
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Tighter origin norms under FTA: Onus on importers seeking preferential tariff It was announced by the Hon’ble Finance Minister during the Budget session that many ofthe claims of drawing the benefits of the Free Trade Arrangements are impairing the interestsof the domestic manufacturers, pursuant to which it is widely expected…

Inshorts

WAIVER OF ATTESTATION REQUIREMENT OF AUDIT CERTIFICATION

INPUT TAX CREDIT – RESTRICTION ALL OVER!

INTEREST ON DELAYED FILING OF GSTR-3B

Union Budget 2021-22 – An Overview from the Eye of Indirect Tax

INTEREST ON DELAYED FILING OF GSTR-3B

TIGHTER ORIGIN NORMS UNDER FTA: ONUS ON IMPORTERS SEEKING PREFERENTIAL TARIFF

Remission of Duties & Taxes on Export Products (RoDTEP)

Finally input services can be availed as refund under Inverted duty structure. A snapshot of where we stand post the Hon’ble Gujarat High Court Decision

INTERMEDIARY SERVICES: The Saga of Confusion Continues.

Tighter origin norms under FTA: Onus on importers seeking preferential tariff

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