GST Case Law Updates - September 2020

  • Category: GST Updates
  • Date: 30-09-2020
  • Writer: CA Sudhir VS
  1. Is the recipient eligible to claim a refund? Whether the refund of the unutilized ITC in the e-credit ledger be claimed?

In the case of M/s Britannia Industries Ltd Vs Union of India - 2020-TIOL-1495-HC-AHM-GST the assessee is an SEZ unit being an exporter has procured the goods and services with payment of GST to vendors through Input Service Distributor. Claimed the refund of the accumulated credit as a recipient. The refund was held to be eligible.

Things to ponder:

  • Can...
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Professional Empowerment Series – Appropriate Billing – Article 7

  • Category: Empowering Student
  • Date: 29-09-2020
  • Writer: CA Madhukar N Hiregange

In the earlier articles we covered professional goal setting, gaining the knowledge edge, adequate  skilling, getting the experience needed, the people focus and communicating persuasively. Now the very important aspect of how to quote, negotiate and bill appropriately by the Small and Medium Practitioner following the ethics is examined in this article. None of the sharing done by me is the last word may need customisation. It may most times only validate the professional thought process...

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Professional Empowerment Series – Persuasive Communication – Article 6

  • Category: Empowering Student
  • Date: 28-09-2020
  • Writer: CA Madhukar N Hiregange

In the earlier article on skilling oneself- article 3, I had touched on skilling oneself which included a number of skills including to be able to communicate persuasively. This is a basic skill which is often not worked on and mistakes can upset the discerning client. It would slow down the professional growth and may be larger clients may not be too happy.

In profession we have many make or break conversations, maybe some on them on the phone. SMS, whatsapp or email. How can we be...

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Professional Empowerment Series- Attracting Industry/ Trade – Article - 5

  • Category: Empowering Student
  • Date: 22-09-2020
  • Writer: CA Madhukar N Hiregange

We started the empowerment series with setting professional goals followed by getting the knowledge edge, skilling oneself, gaining the required experience and how to attract, train and retain good employees.

Many professionals come to me and say all that is ok Sir, tell us how to get work. Juniors complain about seniors, seniors on juniors. Most times we are busy safeguarding our knowledge and clients.

The most common question from those in practice who have just started, now, 2...

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Due dates under GST linked with September

  • Category: GST Updates
  • Date: 22-09-2020
  • Writer: Shilpi Jain

Generally, any taxation law has many due dates relating to the various compliances. Under GST it has been seen that the month of September is a very important month as many of these due dates, though not falling in such month, are linked to this month i.e. the due dates are defined in different ways as below:

  1. Due date of furnishing the return for the month or quarter of September
  2. Actual date of furnishing the return for the month of September
  3. By the month September.

From the...

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Professional Empowerment Series- People Focus – Article -4

  • Category: Empowering Student
  • Date: 18-09-2020
  • Writer: CA Madhukar N Hiregange

We started the series with setting professional goals followed by getting the knowledge edge, skilling oneself and gaining the experience.  This entire exercise may take from 1 to 3 years depending on the decision to specialise or go for a basket of services.

One of the main reasons I personally have been able to have a policy of  not working late is the focus on staff in different ways. In the starting we would appoint anyone who came around when we needed them. We spent a lot of time...

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ITC restriction relating to construction of immovable property

  • Category: Input Tax Credit
  • Date: 17-09-2020
  • Writer: Shilpi Jain

This article has been published in the Chambers' Journal Aug '20 edition.

The credit available under GST is seemingly much wider than what was available under the earlier laws for the mere reason that under GST, credit will be available if it is used for business. However, no tax law can exist without restricting any credit and GST is no exception, which blocks certain credits even if used for business.

 

It is thus important to understand the extent of the credits blocked under...

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Privacy Policy HDFC

  • Category: Latest updates
  • Date: 16-09-2020
  • Writer: Hiregange Team

Recovery of GST under IBC provisions

  • Category: GST
  • Date: 15-09-2020
  • Writer: CA Rajendra Prabhu S P

Introduction

In the light of introduction of Insolvency and Bankruptcy Code 2016 (Hereinafter, referred as IBC), there has been reduction in time for the process of carrying out insolvency/restructuring. IBC provides various options to draw resolution plans within a short period of time which renders the business to re-establish being a going concern during the process of resolution. Let us analyse a couple of decisions rendered with respect to the proceedings initiated and treatment of...

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Order of utilisation of input tax credit - Huge balances in the CGST credit ledger

  • Category: Input Tax Credit
  • Date: 11-09-2020
  • Writers: Aporna Das Gupta, Shilpi Jain

The Government’s slogan for the implementation of GST has always been ‘One Nation One Tax’, though none of the stakeholders have ever been able to relate GST to this slogan for the reason that GST has continued (as in the earlier regime of indirect taxes) to levy

  1. A Centre’s Tax i.e. IGST
  2. State Taxes i.e. each State having its own SGST like TNGST, MGST, etc.
  3. Central Taxes i.e. each State having its own CGST (depicted by the fact that the CGST of one State is not available...
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