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Articles by Heet Shah

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Datewise Analysis of GST Notifications 19 & 20

  Heet Shah    09 June 2021 at 09:32

CBIC has issued few notifications in which they have provided relaxation to the taxpayers who have failed to file GSTR from July 2017 to April 2021. Discussing the same in this article.

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Posted in GST |   4038 Views


Retrospective Amendment - Interest on Tax payable under Section 50 on Net Tax liability

  Heet Shah    08 June 2021 at 09:27

Section 112 of the Finance Act 2021 shall come into force on 1st June 2021. This section seeks to amend Section 50 of the CGST Act, 2017 which relates to Interest on Delayed Payment of GST.

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Posted in GST  2 comments |   1734 Views


Internal Audit Evidence

  Heet Shah    04 June 2021 at 08:57

Information collected from underlying entity records and processes, as well as information from the performance of various audit activities and testing procedures forms part of "Internal Audit Evidence" based on which auditor forms his opinion.

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Posted in Audit  1 comments |   1575 Views


Planning of Internal Audit Assignments

  Heet Shah    04 June 2021 at 08:57

An Audit Committee is required to formulate the overall internal audit plan of the company which includes planning the scope, functioning, periodicity, and methodology for conducting the internal audit.

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Posted in Audit |   1329 Views


Persistence: The key to success

  Heet Shah    04 June 2021 at 08:57

Think about all of the famous entrepreneurs - Arianna Huffington, Steve Jobs, Elon Musk, Bill Gates etc. They all showed up every single day. They showed up when they didn't want to. Thus, Persistence is the key to success.

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Posted in Students  1 comments |   1776 Views


Gather all Courage and Have a Burning Fire Inside

  Heet Shah    01 June 2021 at 09:40

One might be good at one thing and bad at the other while the other person might be the exact opposite. Similarly, when at times, you lack the most essential thing in life that keeps you going; the other person might be full of it.

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Posted in Students  3 comments |   1722 Views


Inspections under GST - When & who can be inspected?

  Heet Shah    17 May 2021 at 09:38

'Inspection' is a softer provision than search which enables officers to access any place of business or of a person engaged in transporting goods or who is an owner or an operator of a warehouse or godown.

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Posted in GST  1 comments |   1122 Views


Self-generated Tax Invoice for GST supply under RCM along with the Invoice format

  Heet Shah    05 April 2021 at 10:25

The person liable to pay tax under reverse charge shall be required to issue an invoice in respect of goods/services received by him from the unregistered supplier.

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Posted in GST  9 comments |   18279 Views


Brief about E-invoicing under GST

  Heet Shah    02 April 2021 at 09:54

As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare an invoice by uploading specified details of the invoice on IRP and obtain an IRN. The Invoice containing IRN is known as ‘e-invoice’ in GST.

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Posted in GST  1 comments |   13287 Views


GST Audits: Checks for supply to exporters at concessional rates @0.1%

  Heet Shah    15 March 2021 at 09:55

Discussing conditions that need to be satisfied in case one is supplying to a merchant wherein export is in excess of @0.1% (IGST) or 0.5% (CGST & SGST each).

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Posted in GST  2 comments |   10164 Views