Author: CA Ritul Patwa

Goods and Services Tax (GST) – REQUIREMENT OF BOOKS & RECORDS

As per section 35 of the CGST Act, 2017 and Chapter VIII of the CGST Rules, 2017 (hereinafter referred to as rules) provide that every registered person shall keep and...

INTERIM BUDGET 2019 – INCOME TAX RATES, EXEMPTIONS, DEDUCTIONS AND PROVISIONS FOR F. Y. 2019-20 (A.Y. 2020-2021)

A quick review (Limited Information) of the applicable provisions under the Income Tax Act for the F. Y. 2019-20 (A. Y. 2020-21), after incorporating amendments (only key and selective...

ADVANCE RULING MECHANISM UNDER GOODS & SERVICES TAX (GST)

Introduction An advance ruling helps the applicant in planning his activities, which are liable for payment of GST, well in advance. It also brings certainty in determining the tax...

Major Decisions taken by the GST Council in its 32nd Meeting

The GST Council in its 32nd Meeting held today under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley in New Delhi took the...

GST on Solar Power Generating plant and other Renewable Energy Plants

To resolve the dispute inirespect of the GST Liability on Solar Power Generating Plant and other Renewable Energy Plants, the GST Council in it’s 31st meeting held on 22nd...

Policy Decisions made during 31st Meeting of the GST Council dated 22-12-2018

The GST Council in its 31st meeting held today at New Delhi made the following policy recommendations: There would be a single cash ledger for each tax head. The modalities...

GST CLARIFICATION – AVAILMENT OF INPUT TAX CREDIT UNDER GST

The government has issued following clarification in respect of the AVAILMENT of the Input Tax Credit under GST:-   Last date to avail input tax credit in respect of...

EXEMPTION TO EDUCATION INSTITUTIONS UNDER GST ON SERVICES PROVIDED TO ITS STUDENTS, STAFF & FACULTY

FAQ 1 – Which Education Institution can claim Exemption under GST? Reply – An education institution defined under Para 2 (y) of the Notification No. 12/2017 – Central Tax (Rate)...

COMPANY LAW – REDUCTION IN FEES FOR DELAYED FILLING OF DIRECTORS E-KYC IN DIR-3 KYC

Deadline to re-activate Directors DIN after filling DIR-3 KYC with reduced Fees Of Rs. 500/- has been granted till 05-10-2018. From 6th October, 2018, the Fees will be Rs....

IS GST APPLICABLE ON UP-FRONT PAYMENT FOR LONG TERM LEASE OF IMMOVABLE PROPERTY?

This issue has been settled by law, that Up-Front Payment for Long Term Lease (for e.g. 30, 60 or 99 Years) of an Immovable Property viz. Land, Building etc is...

DISCLAIMER

The Views expressed on this blog are strictly personal and for knowledge of our clients only. The contents of this blog are solely for informational purpose and it does not constitute any professional advice or recommendation. The laws related to GST and other taxes are under evolution and subject to constant changes and amendments over time. It is suggested to take specific legal advice and necessary due diligence before relying on the contents and information of this Blog. The authors of this blog, does not accept any liabilities for any loss or damage of any kind arising out of information on this blog and for any actions taken in reliance thereon.