Articles by Bimal Jain

GST Charcha on Union Budget 2021: Interest leviable only on Net Tax Liability

Bimal Jain 18 February 2021 at 09:56

This GST Charcha deciphers into recent changes in GST Laws made vide Clause No. 103 of the Finance Bill, 2021 to provide certainty as to leviability of interest only on Net Tax Liability.

GST Charcha on Union Budget 2021: GST Audit by professionals scrapped?

Bimal Jain 18 February 2021 at 09:56

This GST Charcha deciphers into recent changes in GST Laws made vide Clause No. 101, 102 and 112 of the Finance Bill, 2021 with respect to scrapping GST Audit by professionals and moving to self-certification.

GST Charcha on Union Budget 2021

Bimal Jain 13 February 2021 at 17:17

This GST Charcha deciphers into recent changes in the GST Laws made vide Clause No. 99 and 113 of the Finance Bill, 2021 on the issue whether GST is leviable on services provided by Club or Association to its members?

Key Highlights of Direct Tax Proposals

Bimal Jain 02 February 2021 at 12:29

This document summarises the key highlights of the Direct Tax Proposals of the Union Budget 2021, for easy digest. The budget, which rests on 6 pillars, was announced by FM on 1st Feb 21.

Key Highlights of Changes under the GST Law

Bimal Jain 02 February 2021 at 12:29

This document summarises the changes made/proposed in the Union Budget 2021, under the GST Law – Section wise, in a comparative manner, for easy digest.

Key Highlights of Changes under the Customs and Excise

Bimal Jain 02 February 2021 at 11:44

This document summarises the changes made/proposed in the Union Budget 2021, under Customs and Excise - Section wise in a comparative manner, for easy digest.

Rule 36(4) amended to reduce ITC entitlement for invoices not furnished by supplier from 10% to 5%

Bimal Jain 14 January 2021 at 10:28

CBIC, vide Notification No. 94/2020-Central Tax, dated December 22, 2020, has issued CGST (Fourteenth Amendment) Rules, 2020, inter alia, amending Rule 36(4) of the CGST Rules, 2017 w.e.f. January 1, 2021

Restricting use of ITC amount for discharging output tax liability in GST

Bimal Jain 12 January 2021 at 09:53

The CBIC vide Notification No. 94/2020-Central Tax, dated December 22, 2020, has introduced a new Rule 86B in the Central Goods and Services Rules, 2017 ("CGST Rules"). Let us understand the same.

Time limit increased for grant of GST registration from 3 to 7 working days

Bimal Jain 09 January 2021 at 09:52

In this article, we discuss the CGST (Fourteenth Amendment) Rules 2020, wherein the Time limit was increased for grant of GST registration from 3 to 7 working days.

Validity of e-way bill narrowed by increasing distance from 100 km. to 200 km. per day

Bimal Jain 08 January 2021 at 09:38

The validity of e-way bill under Rule 138(10) of the CGST Rules has been amended, according to which the e-way bill will now be valid for 1 day for every 200 km of travel, as against 100 km earlier.