Articles by CA. Heet Shah

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Lex Non-Cogit Ad Impossibilia: Exploring the Implications for GST and the Ongoing ITC Matching Challenge

  CA. Heet Shah    06 October 2023 at 09:01

Today, I'd like to delve into a significant legal maxim, "Lex Non-Cogit Ad Impossibilia," which translates to "The law does not compel the impossible." This principle is deeply relevant in the context of India's Goods and Services Tax (GST) system, where the concept of Input Tax Credit (ITC) matching has been a persistent challenge.

Posted in GST |   3456 Views

Enhancing Clarity and Flexibility: Revised TCS Policy in India

  CA. Heet Shah    29 June 2023 at 09:02

This write-up aims to outline the revised policy and highlight its impact on stakeholders by addressing their concerns.

Posted in Income Tax |   4842 Views

Analysis of the Real Estate Sector and Challenges Faced under GST

  CA. Heet Shah    26 June 2023 at 08:45

In this article, we will delve into the key issues faced by the real estate sector under GST, backed by examples and relevant case laws.

Posted in GST |   5829 Views

How technology is helping the Indian government crackdown on fraudulent ITC rackets and promoting compliance with tax laws

  CA. Heet Shah    24 June 2023 at 08:41

The recent crackdown by the Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit, on fraudulent input tax credit (ITC) rackets is an important step in curbing tax evasion in India

Posted in GST  1 comments |   2524 Views

Distribution of Input Credit under GST: ISD Mechanism vs. Invoicing Mechanism (Cross Charge)

  CA. Heet Shah    23 June 2023 at 09:10

This article delves into the characteristics, implications, and relevant caselaws surrounding these two mechanisms, shedding light on the factors businesses should consider when choosing between them.

Posted in GST |   4009 Views

GST Rate Rationalisation: Key concern in GST Compliances

  CA. Heet Shah    10 June 2023 at 08:55

Rate rationalization has been a key area of concern in the GST regime since its implementation. The multiplicity of tax slabs, which currently include rates such as 0%, 5%, 12%, 18%, and 28%, along with additional cess on specific goods, has led to complexities and debates surrounding simplification and uniformity.

Posted in GST |   5865 Views

Types of bank accounts for NRIs in India

  CA. Heet Shah    24 April 2023 at 09:00

NRI accounts are bank accounts opened by NRIs in India for various transactions, such as depositing foreign currency earnings, transferring funds to India, etc. These accounts can be in the form of NRE, NRO, or FCNR accounts.

Posted in Others |   2695 Views

Understanding Finance Amendment Bill 2023 for Taxpayer

  CA. Heet Shah    25 March 2023 at 13:09

On March 24th, 2023, the Finance Amendment Bill was passed by the government. This bill is aimed at making changes to the existing financial laws in order to bring in more transparency and accountability, and to facilitate ease of doing business. The bill has been lauded by experts and industry leaders for its many benefits, which we will discuss in this article.

Posted in Taxpayers  1 comments |   4766 Views

Procedure for Deemed Export under GST

  CA. Heet Shah    24 March 2023 at 08:52

Deemed exports are an important provision under the GST law that aims to promote the export of goods and services from India. The procedure for deemed exports involves eligibility, tax invoice, certificate from the recipient, and refund/exemption of GST.

Posted in GST |   8417 Views

All about Remission of Duties and Taxes on Exported Products (RoDTEP)

  CA. Heet Shah    22 March 2023 at 06:49

RoDTEP stands for Remission of Duties and Taxes on Exported Products. It is a new scheme that has been introduced by the Government of India to replace the earlier Merchandise Exports from India Scheme (MEIS) for exporters.

Posted in GST |   1590 Views