Every taxpayer making payment of taxes to the Government on their purchases is knocked off while making the outward supply. A taxpayer must bear the tax liability on the value addition made by him, at each stage. But sometimes supply…
GST Applicability on Import
The main objective of any economy is development and trade plays an important role in achieving the objective of development. Imports are potential weapons for the development of an economy therefore, lawmakers had placed their specific sight on Imports. Considering…
The Tale of Two Contrasting Decisions
Refund of ITC on Input Services Within GST, the term “Inverted Tax Structure” represents the situation when the GST rate paid on inward supplies (or purchases) is higher than the GST rate paid on outward supplies (or sales). According to…
Insight on Input Service Distributor Mechanism
Procurement of services like an advocate, auditor, etc. by the head office on behalf of all entities is a common practice nowadays. Entities of a company in different states are considered as a distinct entity under GST, is well known…
GROUNDWORK OF DEMAND MECHANISM IN GST
In the recent scenario, the role of government officials is no longer restricted to passing laws rather making everyone adhere to these laws is a new challenge faced by them. Some Taxpayers are intentionally or unintentionally getting themselves engaged in…
ELIGIBILITY OF ITC ON MEDICINES
Since the implementation of GST, it has been clear that health care services provided by an authorised medical practitioner or para medics through a clinical establishment are exempt vide Notification No. 12/2017-Central tax (Rate) dated 28-06-2017. But there have been…
Can Supplier’s shadow be used by Recipient For AAR
Ever since the enactment of GST, there are many contentious areas that still need clarification. It includes areas like taxpayers have no certainty over the tax liability which may arise in the future or applicability of various provisions of law…
Restriction on ITC Utilization As Per New Rule 86B
The Central Board of Indirect Taxes and Customs (CBIC) in India has introduced new rule 86B in CGST (Central Goods and Services Tax) Rules vide notification number 94/2020 dated 22.12.2020. The rule 86B became effective from 01.01.2021. As per the…
Salvation From GST Errors
An insight has been provided to the readers how one can safeguard against unwanted demand notice from tax authorities or unwanted issues that may arise from errors in GST compliance that are committed unknowingly. It is to be kept in…
Ambivalence under GST
There are various topics which can be seen as debatable since the implementation of GST as each one of us have our own set of interpretation therefore such areas are considered to be inconclusive. An effort has been made to…