Articles by Bimal Jain

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The Goods and Service Tax Network (“GSTN”) has issued an advisory dated April 04, 2019 which state that all taxpayers is invited to Rule 46 (b) of the CGST Rules 2017, which specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exc..

Posted in GST  11 comments |   12015 Views




Recently, the issue of levibility of Service Tax on reimbursements on electricity expenses received from the occupants of a complex came before a Single Member Bench of the Hon'ble Calcutta High Court, wherein the Hon'ble High Court has upheld the levy of Service Tax on such transactions. [Srijan Re..

Posted in Service Tax |   1445 Views




1. Last chance to avail any pending ITC of FY 2017-18 In terms of sec 16(4) of the CGST Act, 2017 ('the CGST Act') a registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both, after the due date of furnishing o..

Posted in GST  3 comments |   9971 Views




Background: The Interim Budget 2019 did not propose any changes with respect to Indirect Tax. In as much as GST is concerned, the GST Council in its 28thmeeting held on July 21, 2018, recommended certain amendments in the CGST Act, IGST Act, UTGST Act and the GST (Compensation to States) Act, 201..

Posted in GST  5 comments |   4282 Views




The Goods and Service Tax Network (GSTN) has enabled a new functionality in the GST Portal "Comparison of Liability declared and Input Tax Credit claimed". The following are the advantage of this new functionality : (adsbygoogle = window.adsbygoogle || []).push({}); ..

Posted in GST  8 comments |   4523 Views




The GST Council in its 32nd meeting held on January 10, 2019, gave approval that the changes made by CGST (Amendment) Act,2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018 and GST (Compensation to States) Amendment Act, 2018 along with the corresponding changes in SGST Acts would be noti..

Posted in GST  2 comments |   12375 Views




Amidst the clamour to extend the deadline of filing GST Annual Return and Reconciliation Statement in Form GSTR-9 (for normal taxable person) / Form GSTR-9A (for composition taxpayers) and Form GSTR-9C for GST Audit by due date of December 31, 2018 for the Financial Year 2017-18, the CBIC on Decembe..

Posted in GST  3 comments |   2118 Views




Finally, after facing every step of hurdle during past one year of journey of GST, passing through more than 400 changes in form of Notifications, Circulars, Press Releases and Orders, the final goal of every taxpayer is to assess their business records and analyse the mistakes done during the past ..

Posted in GST  1 comments |   3957 Views




Considering the first year of implementation of GST, major challenge is being faced by the Industry Inc in availing GST input tax credit ('ITC') for the financial year 2017-18 after implementation of GST (i.e. July 2017 to March 2018) and lot of divergent views are floating with respect to t..

Posted in GST  3 comments |   8242 Views




In terms of Section 44(1) of the CGST Act, 2017, every registered person, other than an Input Service Distributor, a person paying tax under Section 51 (TDS deductor) or Section 52 (TCS collector), a casual taxable person and a non-resident taxable person, shall furnish an Annual Return for every fi..

Posted in GST  10 comments |   8797 Views





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