Claiming Transitional Credit – Validity of Brand Equity Judgement in light of amendment by Finance Act, 2020

Post the verdict of the Hon’ble Delhi High Court in the case of Brand Equity v. Union of India, retrospective effect to the amendment in Section 140 of the CGST Act was enforced. In view of the said amendment, apprehensions were raised by the industry as to whether the judgement in Brand Equity still holds good. …

Recommendations made by GST Council in its 40th Meeting held on 12.06.2020

Recently GST Council has recommended few reliefs for small tax payers, waived/ reduced the penalty for non-filers of GSTR-3B, extend the benefit to apply revocation of cancellation of registration and also recommended to bring into effect certain proposed amendments of CGST & IGST Act w.e.f. 30.06.2020. We shall further update you once these changes will …

Webinar on Ramifications and Reliefs in GST in Lockdown Period covering decisions taken in the 40th GST Council Meeting

PHD Chamber of Commerce & Industry is organizing a Webinar on Ramifications and Reliefs in GST in Lockdown Period covering decisions taken in the 40th GST Council Meeting. Date and Time: 20th June, 2020 (Saturday) from 11:00 AM to 02:30PM. Eminent Speakers: Mr. N K Gupta Chairman (Indirect Taxes Committee) Mr. Bimal Jain Mentor (Indirect …

Big Boost for Entrepreneurs as Central Government redefines criteria for enterprises to be classified as MSME

The Ministry of Micro, Small and Medium Enterprises has recently issued a Notification dated 1st June, 2020, notifying the criteria for classification of micro, small and medium enterprises. Vide the said Notification, the Government has significantly amended the criteria for an enterprise to be classified as Micro, Small and Medium Enterprises. The announcement for the …