Receipt of Notice/Order by Intended Person - A Requirement or Presumption?

  • Category: Procedure and Compliance
  • Date: 29-04-2021
  • Writer: CA Vikram Katariya

Principle of natural justice is a ground of agrument taken in a law, to ensure fairness, reasonableness, equality and equity. Audi Alteram Partem (or audiatur et altera pars) is a Latin phrase meaning "listen to the other side", or "let the other side be heard as well". It is the principle that no person should be judged without a fair hearing in which each party is given the opportunity to respond to the evidence against them.

 

Under this doctrine, both the parties have the right to...

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Key Year End Compliances under GST

  • Category: Procedure and Compliance
  • Date: 26-03-2021
  • Writers: CA Payal Bhutada, CA Ravi Kumar Somani

With increased changes and amendments being made in the GST law, it becomes a bit difficult to keep track of each such change and implement the same in a right way within the statutory mandated timeframe. Although GST law provides for various compliances that needs to be carried out on a regular basis i.e. Monthly, Quarterly, Half-yearly etc. However, there are certain compliances that are mainly required to be carried out on a yearly basis. Since, the yearly compliances are not a matter of...

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How to disclose transactions/adjustments of FY 17-18 in the Annual return of FY 18-19?

  • Category: Procedure and Compliance
  • Date: 26-08-2020
  • Writer: CA Mannu Kashliwal

Introduction

Completed 3 years in operation but still struggling to rise-up to the average expectations of the stakeholders; GST has proved to be a loop of extension of compliance deadlines. The main reason behind such extensions is incompetent and incapable GSTN network which crashes every now and then #gstnfailed. One such compliance is the filing of Annual Return (Form GSTR 9) and GST Audit (Form GSTR 9C). As of now, the due date of filing GSTR 9 and GSTR 9C is fast approaching and is...

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FY 2019-20: GST Compliance - Action Points

  • Category: Procedure and Compliance
  • Date: 20-08-2020
  • Writer: CA Dhruv Dedhia

We are all aware that COVID 19 pandemic has a great impact on the economy and non-compliance under any tax law due to cash flow has led to the payment of interest, late fee, and penalty. Generally, September is the compliance month for tax laws such as Income tax or GST law (previous financial year compliance).

Study of GST trend from inception, relaxation for rectification of errors, or omission only for FY 2017-18 transaction up to due date of furnishing GSTR 1 of March 2019. However,...

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GST on Director’s Remuneration: An agglomeration among allied laws

  • Category: Procedure and Compliance
  • Date: 17-06-2020
  • Writers: Bhavesh Mittal, CA Ashish Chaudhary

The Reverse Charge Mechanism (RCM) derives it base from the era of Service Tax where it was introduced firstly in case of GTA’s and Clearing and forwarding agents in 1997. Since the provisions for levy of service tax were inconsistent for recovery of tax under RCM, its levy was questioned by The Apex Court in case of “Laghu Udyog Bharti V/s UOI (112) E.L.T. 365(SC)”.  To overrule the said judgment Section 68(2) was incorporated in The Finance Act, 1994. The government with the motive...

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E-way bill – Common Issues and Solutions with Judicial decisions

  • Category: Procedure and Compliance
  • Date: 13-05-2020
  • Writer: CA Mannu Kashliwal

One of the major objectives of GST implementation in India was to ensure the seamless movement of goods and no-check posts in between the states. Further, it was expected that it would put an end to the prolonged road permit system and inspector raj in India.  In order to facilitate the same E-way bill mechanism was introduced.

However, the E-way bill mechanism has proved to be a continuous source of pain for businessmen and transporters where they are subjected to hefty penalties for...

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Registration Process under GST - Increase in Compliance??

  • Category: Procedure and Compliance
  • Date: 08-05-2020
  • Writers: Adv Naveen Kumar K.S, CA Madhukar N Hiregange

Prelude:

The success of GST would depend to a large extent on a robust GST Network as it will be the medium of sharing information between the tax department and tax payers and one of the important aspects of GSTN would be the registration process.

The assessees covered under the present Indirect Taxes regime require multiple registrations and interaction with multiple departments due to multiplicity of taxes. While everyone expected that these problems would be overcome...

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E-invoicing under GST

  • Category: Procedure and Compliance
  • Date: 15-04-2020
  • Writer: Shilpi Jain

The GST Council approved the standard of e-invoice in its 37th meeting held on 20th Sept 2019 and the same along with schema has been published on the GST portal. Further, there were workshops (scheduled in 7 Indian cities in the 1st phase) that were conducted by the GSTN wherein the CEO Prakash Kumar was also present to explain and address the concerns of the trade, industry, professionals and the software vendors whose involvement would be prime in complying with the new provisions of...

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Job work procedure under GST

  • Category: Procedure and Compliance
  • Date: 20-12-2019
  • Writer: Harish P Devda

Background

Under GST, tax is levied on the taxable supply of goods/services. Tax is applicable on the taxable goods/services supplied in India.

The manufacturing industries now a days they stick to their core competencies and get most jobs done on outsourced basis. In order to meet the several demands of the markets the manufacturing industry usually outsources part or whole of manufacturing process to another person namely job worker for the addition of the value of goods (such as...

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FY 2017-18: Actions in March 2019 returns & Annual Returns

  • Category: Procedure and Compliance
  • Date: 10-04-2019
  • Writer: CA Akshay M Hiregange

Introduction:

The main intention of removal of difficulties (ROD) order no. 02/2018 was to facilitate all the registered persons providing additional opportunity to rectify the errors or omissions of the financial year 2017-18 including availment of the GST input tax credit which was not availed within the due date i.e. September 2018. Now, the due date for the rectifications/amendments in the GSTR-1 and availment of ITC in GSTR-3B has been extended through ROD order no. 02/2018 till...

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