Articles by Madhukar N Hiregange

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After the clarifications given by way of FAQs released vide F.No. 354/32/2019 by Tax Research Unit, Department of Revenue on 7th May’19, another document vide No. 354/32/2019 TRU has been released as FAQs (Part-II) on real estate on 14th May ‘19. Many of the aspects clarified are evident..

Posted in GST |   1854 Views

.style1 { font-style: italic; } There are various aspects that are clarified in the FAQs released vide F.No. 354/32/2019 by Tax Research Unit, Department of Revenue on 7th May'19. Many of such are aspects that are evident from the notifications issued and also discussed in our bookle..

Posted in GST |   753 Views

.style1 { font-weight: bold; } INDEX 1. CLARIFICATION RELATING TO MANNER OF UTILISING ITC(Circular No. 98/2019-GST dated 23.04.2019). 3 2. RESTRICTION ON GENERATING E-WAY BILL (Notification No 22/2019-CT dated 23.04.2019). 4 3.  EXTENSION OF DUE DATE FOR FILING FORM GSTR-3B FOR T..

Posted in Taxpayers  1 comments |   1397 Views

The capital goods credit in GST is allowed u/s 16(1). However, those that are immovable see some restriction u/s 17(5)(c,d). In this article we examine what could be eligible and what may not be. The definition u/s 2(19) specifies that it is goods the value of which is capitalised in the books of ac..

Posted in GST  16 comments |   6417 Views

Background In GST regime, input tax credit is available to registered person on goods and services used in course or furtherance of business of making taxable supplies, subject to conditions and restrictions as prescribed. {Sec 16] Input tax credit is not available in respect of blocked credit it..

Posted in GST  1 comments |   9347 Views

Introduction Moving from different indirect taxes into one consolidated indirect taxes Goods and Services Tax (GST) was a challenging task for the Government. One of the challenges which came before them was whether introduction of GST would lead to inflation. Such apprehension was caused du..

Posted in GST |   394 Views

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 |   7425 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 |   1157 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 |   3825 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 |   1496 Views

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