Articles by Madhukar N Hiregange

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Most of the RSWAs had started to comply with the GST law. Some were paying on the entire collections once it exceeded Rs. 7,500/- member wise or association wise. Some were paying on the excess beyond Rs.7,500/- which was the view of knowledgeable professionals. Some were paying on the sinking fund,..

Posted in GST  2 comments |   1648 Views




It appears that this Circular / Press note especially the part on the coverage in audit may have been at the behest of the members who are going to certify. The reasons for the need for dilution could be that the law has not been understood in detail. Professionals especially CAs have been exposed t..

Posted in GST  3 comments |   2758 Views




SUMMARY OF BUDGET 2019 GOODS AND SERVICES TAX ACT 2017 Amendment for Composition scheme Section 10 of CGST Act 2017 An alternative composition scheme for payment of tax at 6% is provided for supplier of services or mixed suppliers (not eligible for the earlier composition scheme) having..

Posted in GST |   2764 Views




S No. Clarifications received from Government Team Hiregange comments A Payment of any unpaid tax: Section 73 of the CGST Act provides a unique opportunity of self-correction to all taxpayers i.e. if a taxpayer ha..

Posted in GST |   1234 Views




Summary of the Press release relating to the 35th GST Council Meeting held on 21st Jun'19. The following are the recommendations of the GST Council after its 35th meeting held on 21st June, 2019. 1. Benches for GST Appellate Tribunal (GSTAT) A decision was taken on the locations of t..

Posted in GST |   3690 Views




It is surprising that even as on date 2nd wekk of June 2019 (with just 18 days left) - the urgency to upload the GST Annual Return & get audit conducted well in time is not being felt across India.  We understand that there are many instances where the auto populated annual return without r..

Posted in GST  1 comments |   3851 Views




.style1 { font-weight: bold; } .style2 { font-weight: bold; font-style: italic; } 1. RATE OF EXCHANGE OF CONVERSION INTO INDIAN CURRENCY OR VICE VERSA WITH EFFECT FROM 3rd MAY, 2019 TO 16th MAY 2019 (Notification No. 35/2019-Customs (N.T) dated 02.05.2019) With effect from 3rd May..

Posted in Custom  2 comments |   648 Views




Valuation is the measurement of value on which any tax has to be paid. The typical construction contract is the composition of three components namely Land or an undivided portion of land in case of apartments Materials/goods like cement, steel etc., Services like labour in construc..

Posted in GST  1 comments |   1671 Views




Introduction SEIS [Services Export Incentive Scheme] is one of the export incentive scheme of  DGFT in chapter 3 of Free Trade Policy 2015-20 of India. This scheme aims to incentivize service exporters of India with the objective to encourage and maximize export of notified services from Ind..

Posted in Taxpayers  1 comments |   660 Views




In these times of Global trade wars with President Trump taking aggressive stand and not making a differentiation between developing countries and USA, exporters of goods and services have to be competitive. The Ministry of Commerce and the Ministry of Finance are not working in a well-co-ordina..

Posted in GST  5 comments |   2731 Views





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