Articles by CA Venkatprasad Pasupuleti
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GST rate increase for Government projects (Works Contracts) - Impact & way forward
CA Venkatprasad Pasupuleti 20 July 2022 at 15:12
Construction industry plays an important role in the development of any country. It is a large sector of Economy of about Rs. 37 lakh crores (as per national accounts statistics, 2019-20). The construction industry in India consists of the Real estate as well as the infrastructure development segment.
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ITC Invoice matching under GST: Mismatch case for Taxpayers
CA Venkatprasad Pasupuleti 30 August 2021 at 09:28
Input tax credit is the backbone of GST as it ensures the critical feature of taxing on value addition in the supply chain. Any action of denying ITC would lead to a cascading effect and kills the soul of GST.
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Interest on Net Tax Liability under GST - Light at the end of the Tunnel?
CA Venkatprasad Pasupuleti 12 September 2020 at 10:55
The interest liability for any belated remittance is an economic consequence. The tax laws are no exception to this rule. GST law provides for interest @18% on the delayed remittance of the tax after due date.
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Transitional credit claims of past- Disentitled now under GST?
CA Venkatprasad Pasupuleti 22 May 2020 at 11:42
GST laws contain Transitional provisions inter alia Section 140 of CGST Act, 2017 (similar provisions in State GST laws) enables the taxpayer to carry forward the unutilized input credit under the pre-GST regime and allow the credit of taxes paid on the stock as on 30.06.2017 as GST credit.
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Precautions to be taken while responding to a notice under GST
CA Venkatprasad Pasupuleti 13 May 2020 at 10:15
On receipt of Notice, before responding to any notice or any other communication, the taxpayer must ensure whether the notice is issued the jurisdictional proper officer?
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Is Denial of refund of ITC not reflected in GSTR-2A valid?
CA Venkatprasad Pasupuleti 13 May 2020 at 10:15
The Rule 36(4) prescribed that ITC shall be entitled to the extent of the invoices uploaded by the suppliers and gives another 10% of the matched ITC in addition to the matched ITC.
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Refund Of ITC On Capital Goods: A Perspective
CA Venkatprasad Pasupuleti 04 April 2020 at 10:09
Refund Of ITC On Capital Goods: A Possible Perspective
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Amendment in rule 96(10) of CGST Rules- A relief to exporters
CA Venkatprasad Pasupuleti 01 April 2020 at 10:53
Amendment in Rule 96(10) - Sigh of relief to Goods Exporters
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Interest on Net Tax Liability under GST - Retrospective amendment & its consequences
CA Venkatprasad Pasupuleti 18 March 2020 at 10:19
The tax laws are no exception to this rule. GST law provides for interest @18% on the delayed remittance of the tax after due date.
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Notice Period Recovery - Liable for GST?
CA Venkatprasad Pasupuleti 30 January 2020 at 10:29
In recent years, the issue of Service Tax/GST liability on the Notice period recovery is a subject matter of dispute.
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