Issue:    Classification under KVAT Act, 2003 Facts:  Petitioner was aggrieved by the order by Commissioner of Commercial Tax under Section 59(4) of KVAT, 2003 in which it was held that blood collection monitors, blood storage refrigerators, platelet agaitators with incubators, plasma expressers, plasma and cyrobath will come under the Residuary Entry under Section 4(1)(b)(iii) and …

The Government of India under the Finance Act, 2018 introduced a cess namely ‘Road and Infrastructure Cess’ under section 109 and 110 of the Finance Act, 2018 to be collected and levied on specified imported goods and on excisable goods as specified in the Sixth schedule of the said Act. The said goods are motor …

Meaning of ‘Benami Transaction’: Purchase or holding of properties in the name of another is known in India, as a “Benami transaction”. The word ‘Benami’ literally means ‘without name’. The essential legal characteristic of these transactions is that there is no intention to benefit the person in whose name the transaction is made. The Benamidar …

Recent data from GST data analytics revealed that only 16% of the summary sales returns in Form GSTR-1 matched with the final returns in Form GSTR-3B for the period July to December 2017. On the recommendations of GST Council, the Revenue Dept. has started to analyse major gaps between self-declared liability and the taxes actually …

The issue of blocked IGST refunds due to various mismatches in case of Exports on payment of IGST was long pending. The biggest reason for such blockage was mismatch in invoice data between Customs EDI System, i.e., Shipping Bill details and GST Network data, i.e., details of Table 6A of GSTR-1. Procedure for resolution of …

Hello Everyone! Today we are sharing the highlights of proposed changes made as per discussions in the 22nd GST Council Meeting held on 6th October, 2017. Click here to download. The next GST Council Meeting will be held on November 9, 2017. Note: The proposed changes are yet to be notified. Stay tuned for more updates. By TEAM GST LAW …

Dear Readers, Transitioning into GST from the earlier tax regime is an activity necessary for all existing business. This transitioning is very important considering stakes involved in the same. Credit of most of taxes paid in old regime is available as GST-ITC in the new regime. Careful assessment of stocks is necessary in order to …

SCOPE OF SUPPLY UNDER GST In the GST regime, tax whether CGST, SGST or IGST is chargeable only when there is a “supply” of goods and/ or services. Thus it is imperative to understand the meaning of the term “supply”. Meaning and scope of “supply” is provided in Section 7 of the Central Goods and …

Dear Readers, In view of the GST Council meeting held on 9th September, 2017, the due date for filing of GST returns has been revised.  The dates for furnishing GST Returns for July has been further extended. A press release to this effect has been released. The same is attached here. The relevant notifications are awaited. …

Dear Readers, With the recent Notification No. 29/2017 – Central Tax, dt- 5th September, 2017, the dates for GST return filing has been revised. Sharing herewith a revised calendar for compliances under GST for ease of reference. Click here to download