Articles by Seetharaman K C

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India's Digital Rupee: Budget 2022 & Future of Banking

Posted by Seetharaman K C 03 February 2022 5026 Views

Discover India's move towards a digital Rupee announced in Budget 2022. Learn how it could reshape banking and challenge cryptocurrencies.



Small Business Pandemic Woes: Banks Tighten Limits

Posted by Seetharaman K C 18 August 2021 1283 Views

Small entrepreneurs face a pandemic dilemma as banks slash OD/CC limits. Discover how this impacts recovery and what solutions are needed.



Going Concern & Auditor Duty During Pandemic

Posted by Seetharaman K C 09 July 2020 7184 Views

Understand the Going Concern concept and auditor responsibilities during the pandemic. Learn how to assess business continuity amidst uncertainty.



Coronavirus Lockdown: Easing Restrictions & Living with the Virus

Posted by Seetharaman K C 26 October 2020 1183 Views

Discover how to ease coronavirus lockdown restrictions gradually. Learn strategies for balancing public health with economic recovery and living alongside the virus.



GST Interest on Gross Tax: Understand Your Rights

Posted by Seetharaman K C 26 February 2020 12683 Views

Facing GST interest demands on gross tax? Discover your rights and recent court rulings clarifying interest on net tax after ITC. Learn more!



GSTR1 Returns and its effect on the availment of input credit under the 20% Input credit rule

Posted by Seetharaman K C 05 November 2019 16893 Views

The provisions relating to the cap of 20% on availing input tax credit notified as per Notification no 49/2019 dated 9th October 2019 only adds salt to the wound as businesses which are already reeling under the present adverse economic conditions.



20% Formula for Input Credit - Is History repeating itself?

Posted by Seetharaman K C 20 April 2020 28461 Views

The Central Board of Indirect Taxes and Customs issued notification no 49/2019 dated 09-10-2019, amending the rules for claiming Input Tax Credit wherein the government has capped the ITC that a registered person can claim.



LUT Facility extension for MSME and Small scale units

Posted by Seetharaman K C 18 April 2020 4337 Views

In the erstwhile Central Excise and Service Tax regime the benefit of claiming export exemption was also available down the line to MSME and small scale suppliers of goods and services who supply goods and/or services to the primary suppliers supplying to exporters and sez's.



Service Tax Return for the period July to Sept 2012

Posted by Seetharaman K C 25 April 2013 25388 Views

This refers to the Service Tax Return for the period 1st July 2012 to 30th September 2012 which I have filed for some of my clients the last date of filing of which is 30th April 2013. I found that none of the returns filed by me has been reflecte



Service tax wrongly levied on Interest/Finance charges

Posted by Seetharaman K C 24 June 2010 13262 Views

It has come to my notice that several banks are charging service tax on interest and finance charges on credit card payments. In certain cases although the nomenclature is clearly mentioned as “Interest” still the bank has charged servic




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