Blogs

It is common even among the older firms that the clients pay the dues in a delayed manner. At times it takes years for the fees to be paid!! The practice of billing only when payment is expected would lead to non-compliance under the GST law leading to interest and penalty. It may also lead to further delays as well as incentivise clients to delay. The other age old lump sum fee concept was probably needed 2 decades back other than form small clients. However, today with the plethora of...

Overview

Service Exports from India Scheme (hereinafter referred as ‘SEIS’) has been introduced by the Government of India under the Foreign Trade Policy 2015-20 w.e.f. 01.04.2015(hereinafter referred as ‘FTP’) replacing the erstwhile 'Served From India Scheme (SFIS)’ under the FTP 2009-15. Under FTP, SEIS incentives are given to the service exporters in the form of scrips, which are transferrable and can also be used for making payment of duties.

Objective of the SEIS...

Introduction and background

In August 2018, the State of Kerala faced a devastating flood due to high rainfall which was the worst flood in nearly a century. There was huge loss to the assets, revenue of the State. As a result, the State of Kerala proposed for levy of additional cess in GST which was approved by the GST council in its 32^nd Council meeting held on 10^th January 2019. The council approved the proposal of State of Kerala to mobilise the revenue through levy of additional cess...