On July 1, 2017, the nation embraced its extensive indirect tax reform. Since then, we see several changes mooted by GSTN (Goods and Service Tax Network) from time to time. Lately, a unique feature titled AATO (annual aggregate turnover) is incorporated on…
As per the provisions of GST Law, every registered person is eligible to claim ITC on purchase of goods or services or both which is used or intended to be used in the course or furtherance of business. However, as…
As we discussed in our earlier blog about the appeal process, we got to know about the Hierarchy of 4 levels of Appeal under GST. Taxpayers can approach the First level i.e., Appellate authority against the adjudication order, and thereafter…
Now that adjudication under the Goods and Services Tax (GST) law is in full swing, GST officers are issuing notices and conducting adjudicating processes against the Taxpayers on a scrutiny basis. Based on the Adjudication conducted by the GST officer,…
The primary focus of every economy has been on increasing the ease of doing business for its people. To achieve this, various relaxations have been given to businesses so that they can put their efforts and resources on their core…
Almost 4 years have elapsed since the introduction of GST Law in India in mid-2017. As the GST Law is in its nascent stages, interpretation of the law and its implementation has become a challenging task for the taxpayers. Not…
From the inception of the F.Y. 2020-21, the Indian economy has suffered a downfall owing to the damage caused by the Corona pandemic. The majority of the sectors were hit hard due to the suspension of business activities for a…
In the fast-changing business dynamics, business restructuring has become a norm whereby businesses undertake activities such as merger – wherein two or more entities come together to form a new entity, resulting in the old entities ceasing to exist;…
In view of the ongoing pandemic crisis in India, the government is playing a crucial role in dealing with the worst situation ever faced by the country. The second wave of COVID-19 has hit the country badly as cases swept…
As we discussed in the last blog about certain GST provisions to be fulfilled under demerger of a company, here in continuation of the last blog we discuss some more GST provisions which need to be catered to comply with…