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Whenever any amendment is proposed at the GST Council Meetings, it has a history to it, which when understood makes the intention clearer. In this article we would be trying to understand the proposed increase in the rate of GST to 18% in relation to the licensing services to broadcast and show original films, sound recordings, radio and television programmes.

The Indian GST law has a lot of complications due to our federal structure, like requirement of identifying the State to which the...

The retrospective amendments and their impact on the certainty of tax laws is one major factor for attracting investments to India. This was highlighted in the Vodafone Issue where Rs.22 thousand crores demand by the Income tax department was held to be inequitable unfair as per the DTAT as held by the International court. This has again happened now in the recent Cairn’s issue where the international courts have not favoured retrospective practice and awarded Rs.740 crores.  

The...

GST - Immediate compliances to be taken in Unlock 1

The pandemic did hit the Pause button for all the commercial activities. Slowdown of entire economy is having its impact leading to occurrence of various events which lack any precedence in the recent past. However, with Unlock 1, there has been a resumption of commercial activities in a phased manner, it is important for the businesses to understand the various compliances more specifically the ones that become due in the month of June...

Section 16 of IGST Act, 2017 entitles exporters to claim refund under either of the two options:

1. Export without payment of IGST under bond or Letter of Undertaking (LUT) and claim refund of unutilized Input Tax Credit (ITC) or

2. Export with payment of IGST and claim refund of such IGST paid.

The 2nd option is more viable & beneficial since the former option comes with certain restrictions & limitations viz.,

ITC on Capital goods is not refundable.

Transitional ITC is not...