Category: Expert Opinion
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Testing the GST notices on technical grounds
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Co-Authored by CA Aparna Nayak and CA Vikas Shenoy Recently, taxpayers registered under the Goods and Services Tax (GST) have reported an influx of notices. While the substance of such notices is typically deemed crucial, it is equally important to scrutinize the technical grounds on which the notice has been issued. We are listing down…
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Budget 2021 – Changes proposed in GST
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Authored by CA Vikas Shenoy The Budget for the financial year 2021-22 was presented by the Hon’ble Finance Minister without much pomp. Many were taken by surprise that there were no hikes in the tax rates and that there were no major tax related announcements. Others suspected that the devil would lie in the fine…
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An interesting account of interest and penalty under GST – Part 1 of 2
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Authored by CA Vikas Shenoy Levy of interest in case of delay in payment of taxes and imposition of penalties in case of defaults or contravention are an integral part of any tax statute. Similarly, in the case of GST law. However, being a neonatal law, the law has seen its fair share of interpretational issues…
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E-invoicing and its nuances
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Authored by CA Vikas Shenoy Even with the pandemic still raging high, the government is steadfast with its plan of strengthening the GST ecosystem by implementing checks and averting leakages. In this regard, although the earlier proposal for implementing e-invoicing from 01 April 2020 was deferred, the same was implemented from 01 October 2020. Simply…
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Goods Transport by Road – GST liability of the recipient and the difficulties
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Authored by CA Vikas Shenoy GST is an indirect tax based on the concept of value added tax, where tax is levied at each stage of supply on the value addition and the tax is ultimately borne by the final consumer of goods or services. As such, a person registered under the GST law is…
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COVID19: GST implications to watch out for
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Authored by CA Vikas Shenoy The COVID19 pandemic continues to disrupt lives of people across the world and has necessitated changes in various spheres of life. Businesses are not an exception to this and certainly not compliance requirements under taxation laws. In this article, a humble effort has been made to note and understand various…
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Refund options available to an Exporter under GST
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Authored by CA Vikas Shenoy Refunds under Indirect tax Statutes Indirect tax statutes through-out its history have been considerate towards Exporters and GST is no exception to this. As a policy and with a view to prevent exporting taxes along with goods and services, exporters are provided the option of refund of tax costs incurred…