Articles by Madhukar N Hiregange

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This circular was on sales promotional schemes and the availability of tax credit (ITC). It clarified the position of GST as under: A. Free Samples/ Gifts: In business free samples or gifts are given to increase sales and get new customers, wean back those who shifted their loyalty. This is in furth..

Posted in GST  4 comments |   7084 Views




 Background Formation of associations or unions is a fundamental right guaranteed by the Constitution to its citizens. Many clubs or associations are formed either for recreation, philanthropy or other purpose. Clubs or associations may be registered as a society, trust, company or it may ev..

Posted in GST |   879 Views




SUMMARY OF GST CIRCULARS Details of inter-State supplies made to unregistered persons to be mentioned in GSTR -3B & GSTR -1 (Circular No. 89/08/2019-GST) In case of inter-State supplies to unregistered persons, composition taxable persons and UIN holders disclosure shall be made in ..

Posted in GST |   3739 Views




AMENDMENT IN COMPENSATION TO THE STATES ACT.. 31 Analysis of Amendment in GST Acts and Compensation to States Act Introduction: 28th GST Council meeting dated 21st July 2018 had recommended various changes in the GST Law consequent to which certain amendments in the Act were proposed. The ..

Posted in GST |   1361 Views



Update on GST January 2019

  Madhukar N Hiregange    10 January 2019 at 11:31

GST Updates: Summary of recent Notifications and Circulars Based on the recommendations of the GST Council in its 31st meeting held on 22nd December, 2018. A. SUMMARY OF REMOVAL OF DIFFICULTIES ORDERS 1.1 Extension in time to make amendments in details furnished in Form GSTR-1 pertaining t..

Posted in GST |   7395 Views




The generally accepted auditing practices (GAAP) are those set-out Internationally which enable comparison of financial statements post audit across the world to be uniform except of local carve-outs. The ICAI formulates the Standards of Auditing (SAs) and auditors are to draw attention in case of n..

Posted in GST  3 comments |   2298 Views




BACKGROUND The primary focus of the industry at the time of introduction of GST was on implementation/modification of ERP module to suit GST requirements, appropriate classification of goods/services and providing training to staff. Initially, the area of focus was more on the aspect of migration..

Posted in GST  2 comments |   3757 Views




GST needs one to register in the State/s where one provides taxable supplies. (section 22) This is in line with the principle of registration in the place of consumption/ destination. However, the place from where the origin takes place needs to be registered. In the direct taxes the presence of a p..

Posted in GST |   889 Views




There are mistakes in GST which impact business and there are mistakes which can close down the business. In this article we restrict to classification mistakes. 90% of classification would be routine and there maybe no mistakes. However in 10% cases if exemption claimed incorrectly or lower rate ch..

Posted in GST  5 comments |   2403 Views




It has been observed that some State GST officers throughout India have started to visit the premises including to the Compliant Taxpayers. Many of them are mere fishing expeditions asking for various documents and finding fault. It is important to note that practice is not followed to that extent b..

Posted in GST  17 comments |   5222 Views





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