Articles by Bimal Jain

GST on Restaurant Services through Zomato, Swiggy, etc. & Reporting in GSTR-3B

Bimal Jain 04 August 2022 at 09:04

A new table Table 3.1.1 has been inserted as per [Notification No. 14/2022 – Central Tax dated July 05, 2022] in Form GSTR-3B and the same will be available on the GST portal from August 01, 2022 wherein both the ECO and registered restaurant can report supplies made under Section 9(5) of the CGST Act

Who are liable to generate e-invoice w.e.f 1st Oct 2022

Bimal Jain 03 August 2022 at 17:07

The GST Council, in its 37th meeting held on 20.09.2019, has recommended introduction of electronic invoice ('e-invoice') in GST in a phased manner. E-invoicing was initially made applicable w.e.f 01.10.2020 for the registered person having aggregate turnover of Rs. 500 crore and above only.

Important Changes in GST w.r.t Foods industry w.e.f July 18, 2022

Bimal Jain 19 July 2022 at 16:35

Earlier, there was exemption from GST on Unbranded or Branded Commodities where right on the brand has been foregone which has been done away w.e.f July 18, 2022, and now GST exempted only when it is not a pre-package and labelled commodities.

Can CA be arrested - Section 69 vs. Section 132 of the CGST Act

Bimal Jain 23 May 2022 at 16:50

In the administration of taxation, the provisions for arrests are created to tackle certain situations raised by some unscrupulous tax evaders. Arrest provisions may appear to be very harsh but these are necessary for efficient tax administration and also act as a deterrent and instil a sense of discipline.

SC: No IGST on Ocean Freight under RCM for CIF Import

Bimal Jain 23 May 2022 at 11:18

The Hon'ble Supreme Court in Union of India & Anr. v. M/s Mohit Minerals Pvt. Ltd.[Civil Appeal No. 1390 of 2022 dated May 19, 2022] upheld the judgement given by the Hon'ble Gujarat High Court to hold that no IGST is payable on ocean freight under Reverse Charge Mechanism ("RCM") for Cost, insurance, and freight ("CIF") imports as Indian importer is liable to pay IGST

Exemption cannot be denied once granted by the competent Revenue Authority on components required for solar power generation

Bimal Jain 23 May 2022 at 08:45

Whether the Appellant is entitled to the benefit of the Exemption Notification for the galvanised solar structure cleared to solar power generating companies?

Activities to be undertaken for GST Compliances of FY 2021-22 in March, 2022

Bimal Jain 29 March 2022 at 10:59

We are fast approaching the end of financial year 2021-22. It mandates for some activities to be carried out under GST laws for smooth transition to Financial Year 2022-23. We have listed down certain important activities for the smooth transition/ closure of Financial Year 2021-22

Changes under Customs & Excise proposed in Union Budget 2022!!

Bimal Jain 02 February 2022 at 11:41

The Finance Minister has introduced the Finance Bill, 2022 in Lok Sabha today, that is 1st February, 2022. Changes in Customs, Central Excise, GST law and rates have been proposed through the Finance Bill, 2022.

Changes under GST proposed in Union Budget 2022!!

Bimal Jain 02 February 2022 at 11:07

Following amendments carried out in the Finance Bill, 2022, vide Clause 99 to 113, which will come into effect from a date to be notified, as far as possible, concurrently with the corresponding amendments to the similar GST Acts passed by the State(s) & Union territories with legislature.

Changes under the Income Tax Law proposed in Budget 2022!!

Bimal Jain 02 February 2022 at 10:56

The provisions of Finance Bill, 2022, relating to direct taxes seek to amend the Incometax Act, 1961 ('theIncometax Act'), to continue reforms in direct tax system through tax-incentives, removing difficulties faced by taxpayers