GST / Goods & Service Tax Archive
Transitional Credits: Whether retrospective amendment u/s 140 really nullifies Delhi HC Judgment of Brand Equity?
Recently Delhi HC held Rule 117 (1A) of CGST Rules as arbitrary, vague, and unreasonable. It was further held that timeline prescribed in CGST Rules is not sacrosanct Considering that no time limit is prescribed in CGST Act, Delhi HC held that transitional credit can be claimed up to 30.06.2020 (i.e. within 3 years from …
GST TRAN-1 can be filed upto 30th June, 2020 – Analysis of Landmark Judgement
The Hon’ble Delhi High Court in a landmark judgment in the matter of Brand Equity Treaties Limited W.P.(C) 11040/2018, has permitted that GST TRAN-1 can be filed upto 30.06.2020 by all the assesses registered under GST to carry forward/avail their transitional credit. The Court has directed the Government to open the GSTN portal so as …
Challenges in commercial Contracts – Force Majeure, Indian & International Scenario and the learning
A Seminar was conducted by NIRC of ICAI on – “Challenges in commercial Contracts – Force Majeure, Indian & International Scenario and the learning” The following Topics were covered: – law on the subject – international response to the challenge – model contract clause suggested by International Chamber of Commerce – sample clauses in Power …
Sale of land and building under GST- In depth research based discussion by Adv. Puneet Agrawal
In depth research based discussion on sale of land and sale of building under GST. Discussion on: (i) Constitutional aspects (ii) Deliberation by GST Council (iii) Origin/position in VAT and Service Tax Regime, and in GST Regime (iv) issues under GST. By: Adv. Puneet Agrawal
Application of IBC on Current COVID-19 Scenario
JUDICIAL RESPONSE:1. Suo moto cognizance by Hon’ble Supreme Court in WP(C) No. 03/2020 dated 23.03.2020: Under exercise of power conferred under Article 141 and 142, Extension of limitation period in all proceedings irrespective of the limitation prescribes or not under the General or special law whether condonable or not. 2. Suo moto cognizance by NCLAT …
Demand and Recovery Proceedings and matters challengeable in appeals by Adv. Puneet Agrawal
GST Aspects in Real Estate Sector
GST Aspects in Real Estate Sector In this webinar video recording following 5 transactions of Real Estate Sectors are Discussed : Joint Development Agreement (JDA) 1. Transfer of Development Rights 2. Construction Service to Landowner 3. Construction of Flats/Units by Developer intended for sale to Buyer 4. Sale of Developed Plots 5. Sale of Flat/ …
Inverted Duty Structure: Concept introduced but not followed
Recently, Central Board of Indirect Taxes and Customs has issued clarification vide Circular No. 135/2020 through which the Government has excluded the traders from claiming refunds under Inverted Duty Structure and has restricted its applicability only to the cases where the inputs and output supplies are not the same. This article has critically analyzed the …
Eye Share: Initiative to Issue Pending GST, Customs and Income-Tax Refunds Immediately – A Welcome Move
Amidst the COVID-19 crisis, Ministry of Finance (MoF) yesterday announced yet another relief measure to provide immediate respite to the individuals and the business entities. Govt. issued a press note stating that it shall issue all the pending refunds under Income tax, GST and Customs. Mr. Puneet Agrawal (Partner) along with Ms. Shuchi Agrawal (Manager, ALA Legal) comment that said …