Goods and Services Tax

One of the main reasons that goods and services tax (for brevity ‘GST’) laws were introduced is to bring numerous indirect legislations under one single law to the extent possible. By doing this, the service tax law, excise law and value added tax law have repealed and subsumed into GST

The birth of Resident Welfare Association (for brevity ‘RWA’) is guided by Section 11(4)(e) of Real Estate (Regulation & Development) Act, 2016. The said section mandates that promoter should enable the formation of RWA under the local laws. In absence of such local laws, the section mandates that RWA must

Introduction: One of the objectives for implementation of GST in India is to ensure seamless flow of credit among business to shift the entire tax burden to ultimate consumers of the supply. In line with this objective, Section 16(1) of the CT Act[1] facilities input tax credit (‘ITC’/’Credit’) availment by

Introduction: At the time of introduction of negative list-based taxation under service tax law[1] effective from 01.07.2012, only selected services provided by Government are subject to service tax and the rest are covered under the negative list. With effect from 01.04.2016, the negative list contained in section 66D was amended

Introduction: As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting held on 05.10.2020 has recommended for quarterly return filing facility for small taxpayers. Based on these recommendations, Government has introduced the scheme of Quarterly Return filing

Introduction: Sources[1] say that 535 cases involving fraudulent input tax credit (ITC) of Rs 2,565 Crores have been booked so far in the previous financial year. For Financial Year (FY) 2018-19, the statistics were even more staggering with 1,620 cases involving fraudulent ITC claims of Rs 11,251 crore. Thus, fake

Introduction: Under the GST[1] laws, the charging section is provided under section 9. Sub-section (4) of this section as was originally constituted to provide for levy of GST under reverse charge wherein the registered recipients are required to pay GST on all the supply of taxable goods or services when

Introduction: The concept of warehouse manufacturing available under Customs Act, 1962 is an age-old duty deferment and export benefit scheme useful for both domestic suppliers and exporters. It is less popular among exporters when compared to EOU1, EPCG2 and Advance Authorization schemes under the FTP3. All these schemes allow exporters

Introduction:  Whether the credit accumulated in the last returns filed under the previous regime can be taken to electronic credit ledger in terms of section 140 of the CT Act [1] by filing TRAN-01 even after the time limit prescribed under Rule 117 of the CT Rules [2] has been subjected to

Introduction: Claim of credit accumulated in the returns of erstwhile regime under GST [1] regime by filing TRAN-01 return i.e. transitional credit is subject to vexatious litigation as many of the taxpayers failed to meet the due date prescribed in Rule 117[2]. The reasons for not meeting the due date are