Articles by Bimal Jain

Recent Important Amendments in the CGST Rules

Bimal Jain 19 October 2024 at 11:47

1. Rule 36 - Documentary requirements and conditions for claiming input tax creditCBIC vide Notification No. 20/2024 - Central Tax dated October 08, 2024 w.e.f...

Common Time Limit for Demand Notices: Key Implications for Cases Involving Fraud, Suppression, or Willful Misstatement

Bimal Jain 05 October 2024 at 14:19

Common time limit for issuing demand notices and orders, regardless of whether the case involves fraud, suppression or willful misstatement

No Interest and Penalty if demanded tax amount is paid by 31st March 2025 for FYs 2017-20

Bimal Jain 01 October 2024 at 13:35

The Ministry of Finance has officially notified the enforcement of several sections of the Central Goods and Services Tax Act, 2017 ("the CGST Act"), including the newly introduced Section 128A in the CGST Act, w.e.f. November 1, 2024.

Relaxation for the availment of ITC for the FYs 2017-2021

Bimal Jain 01 October 2024 at 13:19

Due to various factors, including financial constraints, lack of knowledge on the part of taxpayers or their accountants/tax consultants, and the cancellation of GST registrations for multiple reasons, etc., registered persons could not file their statutory returns

Budget 2024-25: Changes under Customs & Excise

Bimal Jain 24 July 2024 at 14:42

Changes under Customs & Excise proposed under Budget 2024

Budget 2024-25: Changes under the Income Tax Law

Bimal Jain 24 July 2024 at 11:27

Changes under the Income Tax Law as proposed in Budget 2024

Budget 2024-25: Changes under GST Law

Bimal Jain 24 July 2024 at 11:12

Changes under GST Law as proposed in Budget 2024-25

Activities to be undertaken for GST Compliances of FY 2023-24 in March 2024

Bimal Jain 23 March 2024 at 10:25

We have listed down certain important activities for the smooth transition/ closure of the Financial Year 2023-24

Provisions of Anti-Profiteering are constitutionally valid

Bimal Jain 09 February 2024 at 17:18

When GST was introduced in the Country, the Government ensures either a reduction in GST rates and/ or allowed GST credit, which was not available in the pre-GST regime on various Goods or Services and wanted corresponding benefits as allowed to the Companies by forgone revenues on above account should be passed to the consumers.

Key Highlights of Interim Budget 2024-25: Changes under GST

Bimal Jain 02 February 2024 at 10:53

GSTGST has been a landmark reform of Independent India, enabling "One Nation One Tax One Market". GST has reduced the compliance burden on trade and i..