These are activities which fill the tax payers – even the compliant with dread due to past practice- unfortunately continued. This article provides some tips/ insights the knowledge of which maybe useful in dealing with such officers in a more confident manner. Adv. MS Nagaraja shared his views. Listed hereunder as per understanding:
1. To start investigation JCC or above needs to have reason to believe a) supressed / undervalued supplies, b) Excess claim of ITC, c) Contravenes Act/...Read more
We had the learning presentation by CA Rajesh Kumar TR last week. Readers are advised to keep the bare act with them while reading the series of finer issues which would be discussed. It is very important that when professionals advice on compliances or do audit then they need to be conservative. In case of dispute then the observations in this article would be useful.
The insights as understood were as under:
1. Need to understand the 3 baskets of levy Vs assessment Vs collection as...Read more
The advice to clients in GST needs study and analysis of the judicial decisions in the earlier laws like Central Excise, Service Tax and Local VAT. The decision in Customs [ old and current] would also be relevant to understand some of the concepts. Some insights were provided by CA Rajesh Kumar TR which are shared hereunder:
1. Judicial precedents lay down the principle or rule to be followed by lower forums. Judicial discipline requires the hierarchy of courts to be followed.
2. In...Read more
Understanding the background of revenue officers could provide some insights in dealing adequately with the tax officers. We have Adv. BSV Murthy [ Retd. CESTAT Member] who shared as understood by me as under:
1. The mindset of officers to be understood. We got a colonial legacy from the British. Officers considered themselves rulers. Some still have this way of being.
2. Revenue Bias: Job is to safeguard tax; they fear the CVC, CAG, CBI (allegation of graft- for...Read more
Now that we are stuck at home in addition to bonding with family, exercising, we can empower ourselves a bit. We have started an internal learning by partners, experts and qualified in our office.
In this series will share what was the insight on each topic in brief gained by me in the form of bullet points. Am sure it would be useful. First Session was on Drafting of Opinions, replies and appeals- presented by Advocate. Naveen Kumar KS.
1. Importance: Someones liberty maybe...Read more