Gujarat HC strikes down 1 year limit on Cenvat invoices under sec 140 of the GST Act for "first stage dealers"

18th September, 2018

The question before the Hon'ble Court in Filco Trade Vs UOI -was whether the Petitioner a first stage dealer could claim credit on invoices which were dated more than 12 months prior to the implementation of GST. 

Seemingly, clause(iv) of sub-section(3) of section 140 imposes this condition. This condition therefore distinguished "a first stage dealer" from a "manufacturer".  While a manufacturer could avail CENVAT credit of tax paid on purchases and utilize this credit towards discharging duty liability of goods manufactured by him, a dealer neither takes credit nor utilizes  but only passes on the credit of tax already paid to customers.  

The Court ruled : "....the benefit of credit of eligible duties on the purchases made by the first stage dealer as per the then existing CENVAT credit rules was a vested right. By virtue of clause (iv) of sub-section (3) of section 140A such right has been taken away with retrospective effect in relation to goods which were purchased prior to one year from the appointed day........

32. For all these reasons we find that clause (iv) of subsection (3) of section 140 is unconstitutional. We therefore strike down the same. Petitions are allowed and disposed of. " Read the judgement

 

Evasion by banks alleged by GST authorities

14th September, 2018

The Mumbai GST Commissionerate appears to have raised objections on an alleged a tax evasion by some banks in their money transfer services. This is  being called as a “cut and pay” model adopted by the banks and their operatives i.e. banking correspondents (BC) and their agents.

The total amount of service fees payable for the transaction to the BCs and their agents ranges between 1-1.5%. Out of this, 0.2% to 0.6 % is BC agent/retailer commission which is retained by the BC.

Apparently, RBI guidelines DBOD no. BL.BC.43/22.01.009 dated Sept 28, 2010 permits only the bank to charge the customer and prohibits the BC or its agents from charging any fee directly to the customers for the services rendered on behalf of the bank.

The Department’s objection is, GST is being evaded by the bank on the amount that is retained by the BC agents/ retailers in cash. Reportedly, Yes Bank and AXIS Bank have denied these allegations saying their approach was cleared by tax experts and they are following the industry's practice.

Time to wake up! Last chance to claim the unclaimed GST credits and make reversals of for the year FY 2017-18 -before 30th September, 2018 – Steps to be taken.


12th September, 2018

1.    Unclaimed GST for FY 2017-18 for goods or services received but credit deferred due to doubts on eligibility. Eligibility must now be determined and credit availed and included in the Sept 2018 return.
2.    Correct and reconcile mis-matches between the liability declared by vendor (GSTR2A) and credit claimed by recipient in the books of accounts.
3.    Issue adjustment notes i.e. credit or debit notes. This must reflect in books of accounts and this must in the return of  30th Sept 2018.
4.    Compute and reverse tax credits (rule 42) on exempted outward supplies. This must be done provisionally every month and finalized at after the financial year end.
5.      Credit reversal Section 16(2) of the CGST Act when vendors are not paid the consideration within 180 days. Delay will trigger an interest liability.

 

 

Consumer anti profiteering complaints to be investigated


12th September, 2018

GST aims to amalgamate and eliminate cascading of Central and State taxes. So input tax credits and overall lower tax rates mean lower tax outflow for tax payers. The lower tax must benefit consumers who really bear the burden of the indirect tax.

The GST law also creates anti-profiteering provisions to penalise vendors who do not pass on the benefit to consumers.  Several complaints have been most notably by consumers of white goods that tax benefits are not being passed on.  For instance tax rate was reduced by 10% on refridgerators, washing machines and water heaters  (from 28% to 18%). The antiprofiteering officials will be now looking into complaints.

The Companies concerned are reported to have denied these accusations claiming they have passed on the entire GST benefit.

Supreme Court imposes penalty on CIT for trying to mislead.

29th August, 2018

The Supreme Court bench headed by Justice Madan B Lokur said it was "shocked" that the Commissioner of Income Tax, Ghaziabad presented "false and misleading" facts trying to mislead it and slapped a penalty of Rs 10 lakhs. 

The department claimed a similar case was pending in the Supreme Court since 2012 and that this case be tagged with it.  However the registrar's office pointed out that the old case was already decided way back in Sept 2012. The Apex Court stated that "the Commissioner of Income Tax has taken the matter so casually," and came down hard on the departmental lawyers trying to hoodwink the top court
The petition was dismissed with costs of Rs 10 lakh to be paid to the Supreme Court Legal Services Committee within four weeks.  Read the Judgement



Niti Aayog recommends slash in import duty and GST on gold

It is reported that Niti Aayog has recommended to the government to slash import duty on gold from the current 10% and similarly slash GST on gold from the current 3%. The reason advanced for the recommendation is that this will lead to greater compliance and will also reduce the smuggling of gold.

The committee has also suggested other exemptions on exports and scrapping of commodity transaction tax on gold derivatives and provision for capital gains tax exemption for gold related financial instruments.

Labour leader James Corbyn takes on the media and fake news.

He says “ But we must  also break the stranglehold of elite power and billionaire domination over large parts of our media. Just 3 companies control 71% of national newspaper circulation and five companies control 81% of local newspaper circulation. This unhealthy sway of a few corporates and billionaires shapes and skews the priorities and world view of powerful sections of the media….”     https://www.youtube.com/watch?v=tKn_mrNqAKU

Notifications issued consequent to 28th GST Council Meeting revising rates and introducing changes

27th July, 2018

The new notifications can be found chronologically listed in the following lists:

1. CGST Rate Notifications of 2018

2. IGST Rate Notifications of 2018

3. UTGST Rate Notifications of 2018

4. Compensation Cess Rate Notification 2018

5. Press Release dated 21st July 2018 after 28th GST Council Meet

GST Council exempts sanitary napkins, reduces rates on several items, simplifies the return etc.

21st July, 2018

Fresh reports on the recommendations consequent to the 28th GST Council Meeting held today are :
1.    Tax rates over 30 items have been reduced to 18% and 12%.
2.    Sanitary napkins will now be totally exempt from GST.
3.    Annual ceiling for tax payers to qualify under the composition tax raised to Rs 1.5 Crores. As a result of this new tax payers will get included.
4.    Many changes mooted to correct typographical errors  and similar corrections
5.    GST on bamboo flooring reduced to 12%
6.    No decision taken by the Council on sugar cess.

These changes will come into effect on notifications being issued by the Govts.

Read the article 

Read 5 Govt Press releases dated 21st July

To simply GST first step is "remove 28% tax slab", says outgoing CEA Arvind Subramanian

28th June, 2018

Outgoing CEA says first step to simplify GST is to do away with 28 per cent tax slab. 

Mr Arvind Subramanian said “I am saying that in an ideal system the 28 per cent rate has to go. The cesses may have to be there because we are going to have higher rates for some products but there shouldn’t be multiple rates even here. In my report, we had called for one 18 per cent rate and then 40 per cent rate. Cesses are a different way of implementing the 40 per cent rate.”

Currently, there are seven slabs in GST 0, 0.25%, 3%, 5%, 12%, 18% and 28%. In addition there is compensation cess applicable to "sin" or "luxury" goods. All this makes the GST structure both complex and high.

 

Read 5 Govt Press releases dated 21st July

To simply GST first step is "remove 28% tax slab", says outgoing CEA Arvind Subramanian

28th June, 2018

Outgoing CEA says first step to simplify GST is to do away with 28 per cent tax slab. 

Mr Arvind Subramanian said “I am saying that in an ideal system the 28 per cent rate has to go. The cesses may have to be there because we are going to have higher rates for some products but there shouldn’t be multiple rates even here. In my report, we had called for one 18 per cent rate and then 40 per cent rate. Cesses are a different way of implementing the 40 per cent rate.”

Currently, there are seven slabs in GST 0, 0.25%, 3%, 5%, 12%, 18% and 28%. In addition there is compensation cess applicable to "sin" or "luxury" goods. All this makes the GST structure both complex and high.

 

HSBC report says GST has not increased formalisation of Indian Economy

24th June, 2018


 

A British brokerage firm HSBC seems to contradict what Mr Arun Jaitley recently said a few days ago. He said that GST and Noteban are reforms that are leading to the gradual increase in formalisation of the Indian economy.

The HSBC report on the contrary, says, the demand for cash in India has gone up - "Cash in circulation is rising above trend, but not because rural India is faring better, rather it is due to a revival in the 'informal' sectors, thanks to the continued remonetisation".
 Click for News Archives  

 

Recent Court / Tribunal Judgements

 CESTAT Decisions

26th July, 2018 : CESTAT Bangalore : Sree Rama Coffee Works Vs Commr of Customs : Whether coffee roasting machine is classifiable under 85167990 and exempted under Not No. 21/2002 or under CTH 84198190 without exemption.  Tribunal has held 85167990 applies only to domestic appliances.  This machince an industrial appliances would fall under 84198190.

20th July 2018 : CESTAT Delhi : Sukan Power Systems Ltd & Ors Vs CCE Delhi III: The Tribunal quashes Commissioner (Appeals) order as statement recorded during investigation cannot be admitted without observing the procedure in Sec 9D(1) (b) of CEA. The Tribunal relies on the judgement of Punjab & Haryana High Court in the case of M/s Ambika International & ors. Vs. UOI.

17th July, 2018 : CESTAT Delhi : Sir Ganga Ram Hospital Vs C.S.T. Delhi-IDuring audit it was observed the appellants outsourced 4 diagnostic services to 3 diagnostic centres. The Tribunal held "the arrangement vis a vis appellant and diagnostic centre is clearly an arrangement of Business Support System." The Tribunal set aisde the demands under Management Maintenance & Repair Services. Appeal was partly allowed.

13th July, 2018 : CESTAT Mumbai : Mahindra Engg. Vs CCE, Pune-I : The appellant refund claim was allowed but amount credited to Consumer Welfare Fund. The appellant had intimated on enquiry that the said amount was treated as expenditure in their P&L account accordingly the amount was credited to the Consumer Welfare Fund. The Tribunal held “The only possible way to pass the bar of Unjust Enrichment is that the disputed tax /duty is not expensed off in the accounts, but booked as ‘Receivables’.” Appeal dismissed.

9th July, 2018 : CESTAT Bangalore : Bhagwan Mahaveer Jain College Vs CC, Bangalore: It was alleged 200 PCs imported under Not. 51/96-Cus for reasearch in the field of agriculture, computers etc. were only used for their courses in microbiology, botany, biochemistry. The Tribunal held "Essentiality Certificate has been issued and Bangalore University is registered with the DSIR. Therefore, the importer is eligible ..as the conditions of the Notification have been satisfied..".  Appeal is allowed.

3rd July, 2018 : CESTAT Delhi : Udaipur Treasure  Vs C.C.E. & S.T.-Indore  : Appellant availed Cenvat Credit but provided no output service or paid service tax. The Tribunal rejected the appeal held "Credit... allowed to be taken contingent upon ...rendering output service which is chargeable to Service Tax..."

3rd July, 2018 : Elinjikal Foods & Beverages  & Ors  Vs CCE (Adj) etc.  : The appeal involves valuation where the buyer, Concept Sales was alleged to sell the goods at twice the purchase price. Investigation revealed interconnectedness, interdependence & inexplicable financial transactions. The Tribunal held "..under these circumstances, it has to be held that leave about mutuality of interest, all the companies were one and the same managed by Shri George Varghese; corporate entities are created as a façade."

2nd July, 2018 :  CESTAT Allahabad : Piem Hotels Ltd. Vs CCEST, Lucknow : The main dispute was over credit availed on invoices of Indian Hotels as "Management Consultancy". The dept disputed this saying it was "Franchisee Service" and hence truncated credit only to the extent of 20% should have been availed, not  100%. The issue since then is settled at Indian Hotels end in their favour. Accordingly, the appellant is entitled to full 100% credit.

2nd July, 2018 : CESTAT Allahabad : Alert Protection And Security Vs CCEST, Meerut-i : Details as per the bank statements and bills received from the customers did not match with the service tax returns. The appellant argued the balance sheet figures were lower. The Tribunal accepted the revenue’s argument and held that the balance sheet does not carry any weight.  Appeal is rejected.

2nd July, 2018 : CESTAT Ahmedabad : Radha Trading  & Ors Vs CC-Kandla : DRI seized the goods on charges of under valuation alleging the goods were routed through SEZ units to actual importers. They relied on evidences and statements of persons indicating that the DTA buyers/ importers were negotiating directly with overseas suppliers etc. The appeal was against the harsh conditions of provisional release. Appeals were partly allowed. 

2nd July, 2018 : CESTAT Delhi : Pee Cee Cosma Sope Ltd. Vs CE, C & CGST – CCE & ST, Jodhpur :  Cenvat Credit on outward freight inadmissible. On time bar appeal rejected on grounds of suppression.

High Court Judgements

 

2nd July, 2018  : Allahabad High Court : Hamdard (Wakf) Labs Vs Commr Of Commercial Taxes : The High Court upholds the Tribunal order and holds that "Sharbat "Rooh Afza" is not unclassifiable under Schedule-V of the Act and liable to tax @ 12.5%. It is neither fruit juice nor fruit drink nor processed fruit.

2nd July, 2018 :  Delhi High Court : JOYCE KAROUNG Vs NARCOTICS CONTROL BUREAU : Relying on the SC judgment in Babua v. State of Orissa, (2001) 2 SCC 566 the High Court concluded the petitioner is not prima facie not guilty. Also, liberty of a citizen must be balanced with the interest of the society especially where narcotic drugs and psychotropic substances are involved. It is alleged that this is not the first offence.

22nd June, 2018 : MP High Court : Star Automobile Vs Commr : Appellant was issued a notice for Rs. 26.61 lakhs and later confirmed in adjudication and both appeal stages. The appellant raised the time-bar issue before the Tribunal. The Hon'ble Court dismissed the appeal u/s 35G as "the appeal does not involve any substantial questions of law for adjudication by this Court and the proposed questions ....are purely factual.." 21st June, 2018 : Bombay High Court : Lloyds Steel Industries Vs CESTAT & Ors : The issue involved eligibility of cenvat credit on appliances/instruments used for maintenance. Tools or instruments must be demonstrated to be used during manufacturing process. The Court held the items do not qualify as capital goods and upheld CESTAT order denying credit.
21st June, 2018 : Calcutta High Court : ARCL Organics Ltd Vs CCE, Kol V : The substantial question of law was: “Whether an appeal can be dismissed for non-compliance of pre-deposit without considering merits? Though clandestine removal was raised, Tribunal did not go into the merits but dismissed merely on the ground that pre-deposit was not made.  If appellant makes the pre-deposit of 10% of the duty within 30 days, appeals will stand restored. 20th June, 2018 : Karnataka High Court : Principal Commr CE Vs  AZKO NOBEL : The Dept appeal was filed seeking an answer to a question of law already answered by the Tribunal in favour of the assessee that the Amendment of Rule 6(6)(i) of Cenvat Credit Rules, 2004, was clarificatory and hence restrospective in nature. The Court uphold the decision of the cognate bench & dismissed appeal.
18th June, 2018 : Chattisgarh HC : Shrikishan & Co Vs Addl Commr Commrcl Tax : Whether bitumen emulsion should be assed under under residual category at % or 4% as per Entry-23 of Schedule-II of Part II of the Chhattisgarh VAT Act. Based on a detailed analysis, Hon'ble High Court sets aside revisional authority order and rules bitumen emulsion is covered by Entry-23 of Part II of Schedule-II of the VAT Act and rate of VAT would be 4% or applicable. 18th June, 2018 : Himachal Pradesh HC : The State of HP Vs Tritronics India :  The Court rejects Revenue plea to condone delay in Revision saying HP VAT Act, 2005 "is a complete code in itself....and as there is no provision contained in the Act, making the provisions of Limitation Act applicable.....this Court has no inherent power to condone the delay in entertaining a Revision Petition which stands filed beyond the period of limitation prescribed in the Act."

Click for earlier Judgements in 2018

Archived links to external articles - 2018

  1. From GST shortfall to MSP hike, Jaitley's fiscal promise faces many hurdles - Business Standard - 18th September
  2. Streamlining of GST compliance fast becoming a long row to hoe - Live Mint - 17th September
  3. Relief for dealers seeking credit on year-old stock - Times of India - 16th September
  4. TDS/TCS provisions under GST to come into effect from Oct 1 - Money Control - 13th September
  5. YES Bank evaded Rs 330 mn tax via 'cut and pay' scheme: GST authority - Business Standard - 13th September
  6. 1.3 lakh defaulters, but UP second in GST collection - Times of India - 13th September
  7. No end to woes of solar power producers amid GST uncertainty - Live Mint - 13th September
  8. Government sets up office of GST Commissioner (Investigation) to deal with tax evasion - Money Control - 12th September
  9. Alarmed by falling revenue, FinMin looks at yet more GST tweak - Economic Times - 10th September
  10. Suppliers liable to pay penalty for not passing GST rate cut benefits: NAA - Economic Times - 10th September
  11. CA, two businessmen arrested for GST fraud - Times of India - 7th September
  12. In a first, Karnataka Taxmen arrest two Bengaluru businessmen in GST related fraud - Economic Times - 7th September
  13. Cost of Compliance under GST goes up by 2X for taxpayers - Economic Times - 7th September
  14. Centre planning to cut GST slabs to two from the present five, says top tax official - Economic Times - 7th September
  15. GST effect? Hundreds of thousands laid off despite growth - Economic Times - 6th September
  16. Finance Ministry simplifies GST refund claim process for businesses - Economic Times - 5th September
  17. Government notifies new annual return form for GST - Economic Times - 5th September
  18. GST authorities get their act together to plug gaps - Econimic Times - 4th September
  19. Companies not passing benefits of GST cut to customers, govt plans to hike penalty - India Today - 4th September
  20. ‘Missing’ service tax credit in GST update worries companies - Economic Times - 3rd September
  21. GST on RTI: Applicant asked to pay Rs 7 tax for information in Madhya Pradesh - Economic Times - 2nd September
  22. GST: A circular that could lead to turf war between states and centre - Economic Times - 1st September
  23. GST mop-up drops to Rs 93,960 crore in August - Economic Times - 1st September
  24. Income tax returns filed till Aug 31 rises 71%, shows greater compliance: Finance ministry - Money Control - 1st September
  25. Income Tax returns 2018: Deadline is today, here’s what happens if you miss it - Indian Express - 31st August
  26. Income Tax Return Due Date Extended For Assessees In Kerala - NDTV Profit - 28th August
  27. GST Annual Return: Everything you need to know about the format, eligibility & rules around GSTR 9 - Economic Times - 28th August
  28. Three American cos directly involved in Nirav Modi-led PNB fraud: US probe - Business Standard - 27th August
  29. Income-tax scrutiny all set to go electronic - The Hindu Business Line - 26th August
  30. Shhh! No more chirping over GST issues on Twitter - Economic Times - 25th August
  31. Kerala flood relief: Money donated to these funds, trusts can get you 50%, 100% tax benefit - Economic Times - 24th August
  32. Niti Aayog suggests slashing import duty, GST rate on gold - Economic Times - 24th August
  33. Jeremy Corbyn's speech on media reform, tech tax and fake news (full) - You Tube Video - 23rd August
  34. Freebies may be freed of GST payment burden - Economic Times - 23rd August
  35. FMCG promotions to rise on GST tweak - Economic Times - 1st August
  36. GST evasion worth Rs 3,026 crore detected in 1 year: Government - Economic Times -31st July
  37. Amending the GST law: Let the numbers speak - Live Mint - 29th July
  38. MNCs cite vague reasons for not passing on GST rate cut benefit - Money Control - 29th July
  39. What is the GST rate cut all about? - The Hindu - 28th July
  40. Domino's Pizza gets notice for not passing on GST benefits - Business Today - 28th July
  41. These eight home appliances are now cheaper by 7-10% after GST rate cut - Money Control - 28th July
  42. 28% GST slab being phased out: Arun Jaitley - Economic Times - 28th July
  43. Jaitley sees GST rate cut on cement, ACs, TVs with rise in revenue - Ecnomic Times - 27th July
  44. Companies to cut prices of washing machines, fridges, small appliances by 7-8% post GST cut - Economic Times - 27th July
  45. GST slab of 28% may become virtual "hollow shell" in year or so, says CEA - Economic Times - 25th July
  46. Zero GST on sanitary napkins will not reduce prices - India Today - 25th July
  47. It could be end of road for permits and inspector raj - Economic Times - 24th July
  48. GST return filing simplified: All you need to know - Economic Times - 23rd July
  49. GST Council meeting almost disowns the 28% peak rate; can 18% be the default tax levy going forward? - First Post - 23rd July
  50. Why government should continue with 4-rate structure for GST - Economic Times - 21st July
  51. National GST appellate tribunal on anvil, Council to decide on July 21 - Economic Times - 19th July, 2018
  52. GST Council likely to cut tax on 30-40 items across multiple slabs in Saturday meet - Money Control - 19th July, 2018
  53. GST Council to decide when GST can be levied on petroleum products: Government - Economic Times - 18th July
  54. GST tax rate cuts likely: Here is what will get cheaper and expensive - Zee Business - 17th July
  55. Local beverage firms in the net for evading GST - Money Control - 17th July
  56. CBIC to organise third edition of GST refund fortnight from July 16-30 - Economic Times - 16th July
  57. Infosys-built data analytics helps GoM decipher GST defaulters: Sushil Modi - Economic Times - 14th July
  58. One Year Of GST: Why Are Taxpayers Being Denied Transition Credit? - Bloomberg Quint - 13th July
  59. Steel secretary says strong need to rationalise royalty, offset input cost in GST - Money Control - 13th July
  60. States slip on fiscal targets on farm loan waivers, GST: RBI - Economic Times - 12th July
  61. GST: Panel Of Ministers Mulls 1% Cess On Luxury Items, Tobacco To Help Farmers - Bloomberg Quint - 11th July
  62. GST Council to consider rate cut on items with low revenue impact on July 21 - Economic Times - 11th July
  63. India can't have single rate GST, 3-slab structure possible: Arvind Subramanian - Economic Times - 11th July
  64. GST law amendment: Some writ pleas may be recalled - Economic Times - 11th July
  65. Government proposes changes to GST law - Times of India - 10th July
  66. IIM-Ahmedabad Seeks Ministry's Help To Resolve 52 Crore GST Notice Issue - NDTV - 9th July
  67. GST Council to take final call on reverse charge; GoM for deferment of digital payment incentives - Money Control - 9th July
  68. GST panel recommends no extra tax incentives for digital transactions - Economic Times - 8th July
  69. GST Council to discuss annual return forms on July 21; experts expect reconciliation with ITR - Money Control - 8th July
  70. Funds for tenants in redevpt plan to attract GST: Tax body - Times of India - 8th July
  71. Technology, not people, led to GST disruption, says Hasmukh Adhia - Business Standard - 6th July
  72. ‘Petro products could enter GST in stages’  - The Hindu - 6th July
  73. GST created disruptions in state, can't have another one: Kerala Fin Min - Business Standard - 6th July
  74. GST credits taken by tech companies under taxman’s lens - Economic Times - 5th July
  75. Five structural reforms govt must bring to clear the way for GST bandwagon; tax framework is too control-oriented - First Post - 4th July
  76. GST: India's big tax reform paying off, but budget hole fears stay - Economic Times - 3rd July
  77. Nowhere to hide as GST data unearths tax leakage, fraud - Economic Times - 2nd July
  78. Will getting petrol & diesel under GST lower prices and the options before the government - Economic Times - 2nd July
  79. Buyers find ways to avoid steep GST on flats being built - Times of India - 2nd July
  80. GST may not be the best in class, but it is far better than the earlier system - Economic Times - 1st July
  81. GST has divided Surat: While textile languishes, diamond trade unaffected - Economic Times - 1st July
  82. Happy with receipts, govt hints at GST cut - Times of India - 1st July
  83. GST evasion: Over 200 companies under lens after data mining - Economic Times - 30th June
  84. Good news: More GST rate cuts are coming - Economic Times - 29th June
  85. Traders urge Finance Ministry to review GST-related issues - Money Control - 28th June
  86. From 36 returns a year to 12, GST taxpayers look forward to simplified filing forms - Economic Times - 28th June
  87. To simplify GST, 28 per cent tax slab has to go: CEA Arvind Subramanian - Indian Express - 28th June
  88. Rs 2,000 crore GST evasion unearthed in 2 months - Economic Times - 27th June
  89. GST provisions on TDS/TCS, reverse charge mechanism deferred by 3 months - Economic Times - 26th June
  90. Council to decide on inclusion of natural gas, ATF in GST: Hasmukh Adhia - Economic Times - 26th June
  91. Govt plans major GST overhaul after identifying 180 issues: Report - Money Control - 26th June
  92. GST impact: Going gets rough for Surat's diamond, textile traders - Economic Times - 25th June
  93. GSTN designing tools for taxmen to analyse data to check evasion - Economic Times - 24th June
  94. Taxpayer panic to fulfill GST criteria, as I-T dept asks to submit documents in 7 days - ZeeBiz - 24th June
  95. GST fails its biggest promise of economy formalisation: HSBC - Economic Times - 22nd June
  96. CESA complains to revenue secretary as GST officials receive abusive replies from taxpayers - Business Today - 22nd June
  97. Dabur sues government for denied tax sops under GST - Economic Times - 22nd June
  98. No pure GST on petrol, diesel; 28% tax plus VAT on anvil under GST - Economic Times - 21st June
  99. Assocham study: People want no GST on cinema tickets - Times of India - 21st June
  100. GST implementation driving adoption of cloud solutions by small enterprises - The Hindu Businessline - 20th June
  101. Government hints at how petrol, diesel might be taxed under GST - Times of India - 20th June
  102. Rs. 672 Crore Worth GST Evasion Detected In Jaipur - NDTV - 20th June
  103. GST Proving To Be A Hard Nut To Crack For Online Food Delivery Startups - Inc42- 19th June
  104. Indian Railways' first waste-to-energy plant faces GST hurdles - Economic Tmes - 19th June
  105. Arun Jaitley shuns demand for sharp cut in tax on fuel - Economic Times - 19th June
  106. Refunds of Rs 25,000 cr pending due to GSTN's inability: Mitra - Business Standard - 18th June
  107. LIC gets Rs 2,050 crore service tax evasion notice - Times of India - 17th June
  108. GST brings down dodgy deals in property market - The Hindu Business Line - 15th June
  109. Higher oil prices, GST may boost states revenue by Rs 37,400 crore in FY19  - Economiic Times - 15th June

Tax Risk Management Part 1

An Introduction

 

Risk comes from not knowing what you’re doing. 
- Warren Buffet

Read the Article

 

Tax Risk Management Part 2

Tax Risks as Black Swan Events!

If you were asked "What 'tax risks' you perceive in your business?" What would be your answer?

Read the Article

 

 

Indirect Tax Risk Management

Indirect Risk Tax Management
 

 

 

 

Economic Survey of India 2017-18