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 Page 2

  1. One year of resolving big defaults: Post RBI diktat, glass half full - Economic Times - 13th June
  2. Finance Ministry Likely to Launch Annual GST Return Forms in Next Council Meet - News 18 - 13th June
  3. CBIC organises 'Special Refund Fortnight' to facilitate clearance of GST refund applications - Economic Times - 13th June
  4. GST evasion: Traders deploy horse-carts to transport produce across states to skirt e-way bill system - First Post- 12th June
  5. GST refund drive extended till June 16 - Economic Times - 12th June
  6. Seattle Poised to Repeal Tax On Amazon and Large Employers - Bloomberg - 12th June
  7. GST: Positive for bigger companies in pharma & chemical sector, while unorganised sector has struggled - Economic Times - 11th June
  8. GST, infrastructure status drive PE investments in warehousing - Economic Times - 11th June
  9. GST refund to foreign tourists at airports on the cards - Economic Times - 10th June
  10. Tax department clears Rs 7,000-crore GST refunds - Times of India - 10th June
  11. Notice shot off to businesses for less IGST input credit claim - Economic Times - 8th June
  12. Expect a slash in GST rates soon - India Today - 8th June
  13. 8. GST Council To Discuss Bringing Natural Gas Under Its Ambit In Next Meeting - Bloomberg Quint - 8th June
  14. Probe agencies ED, CBI and the tax department are tightening noose over corporates like never before - Economic Times - 7th June
  15. Govt working towards reducing GST rates: Min - Business Standard -7th June
  16. GST exclusion costs oil industry Rs 200 bn input credit annually: Pradhan - Business Standard - 7th June
  17. Jet Fuel Under GST Will Help Airlines Only If… - Bloomberg Quint - 6th June
  18. Textile industry leaders meet FM over GST issues - Times of India - 6th June
  19. Government To Share Unclaimed IGST Between Centre And States - Bloomberg Quint - 5th June
  20. GST likely to get centralised AAR for uniform rulings - Economic Times - 5th June
  21. GST Notices In Gujarat, Karnataka And Hyderabad Have Taxpayers Worried - Blooberg Quint - 4th June
  22. Government clarifies: Here's how GST impacts your money - Economic Times - 4th June
  23. How to kill an idea: What went wrong with Modi's plan to go after benami properties - Economic Times - 4th June
  24. High petrol, diesel prices: Four things that may help - Times of India - 4th June
  25. Government clarifies GST applicability on financial services - Economic Times- 4th June
  26. Jordanians in third night of tax rise protests - BBC News - 3rd June
  27. Centre Will Refund GST on Raw Materials for Langars and Bhandaras, Announces Arun Jaitley - News 18 - 2nd June
  28. Hit by note ban & GST, marble industry sheds 30% of workforce - Times of India - 2nd June
  29. At 94,000 crore, GST collection lower in April - Times of India - 2nd June
  30. Monthly GST collections not comparable; higher tax mop-up in March: Hasmukh Adhia - Economic Times - 1st June
  31. The GST Authorities in GB Nagar, Greater Noida to give GST refunds for two weeks - Times of India - 1st June
  32. Uganda imposes WhatsApp and Facebook tax 'to stop gossip' - BBC News - 31st May
  33. Pending exporters' GST refund reflects govt's indifference: Mohandas Pai - Business Standard - 31st May
  34. GST notices to pharma firms on free supply to have wider ramifications  - Business Standard - 31st May
  35. GST troubles far from over, says exporters' body FIEO - Business Today - 29th May
  36. Rs 20,000 Crore GST Refund Pending With Government, Says Exporters’ Body - BloombergQuint - 29th May
  37. Is the world simpler than it was before GST? This jury is in - Economic Times - 29th May
  38. No GST on support services to farmers: Finance Ministry - Economic Times - 28th May
  39. With Rs. 50,000 Crore As Arrears, Income Tax Department Writes Off Massive Corporate Dues - NDTV - 27th May
  40. Including petrol, diesel in GST won't reduce prices much, says Sushil Modi - Business Today - 26th May
  41. Here's why fuel should be brought under GST: Price per litre will drop by Rs 22 in Delhi, Rs 32 in Mumbai - First Post - 26th May
  42. Transport minister Nitin Gadkari advocates bringing fuel under GST - Times of India - 25th May
  43. Father, Son Arrested For Rs. 28 Crore GST Evasion In Delhi - NDTV - 24th May
  44. GST on Bitcoin? Cryptocurrency trade may get taxed 18%: Report - Business Today - 24th May
  45. Bringing Fuel Under GST Will Be A Long-Term Solution For High Prices: HPCL - Bloomberg Quint - 23rd May
  46. Commentary: Hard truths, tough choices ahead after Malaysia’s scrapping of the GST - ChannelNewsAsia - 23rd May
  47. GST: Country-wide intra-state e-way bill system mandatory from 3 June - First Post - 22nd May
  48. GST fraud: Fake bills used to claim input tax credit worth Rs 450 crore - Business Today - 22nd May
  49. Damages paid for cancellation contract to attract 18% GST - Economic Times - 21st May
  50.  What India can learn from failure of Malaysia’s GST - Live Mint - 21st May
  51. Bring petrol, diesel under GST, says ASSOCHAM - Times of India - 21st May
  52. Petrol, Diesel Prices Hiked For 8th Day To New Highs, Government Action Likely Soon - NDTV Profit - 21st May
  53. GST Blow For Entities Servicing Foreign Clients In India? - BloombergQuint 19th May
  54. Two arrested for alleged GST fraud, tax evasion - Money Control -19th May
  55. Govt extends deadline for filing April GSTR-3B by 2 days till May 22 - Times of India - 18th May
  56. Civil Aviation Ministry likely to approach GST Council for inclusion of ATF under tax regime - MoneyControl - 17th May
  57. Why Malaysia has scrapped the GST that accounted for 18% of govt's revenue - Business Today - 17th May
  58. Malaysia scraps GST, experts advise caution to Indian govt - Business Standard - 17th May
  59. BSNL inks deal with SAP to offer GST solution to Indian enterprises - Telecom - Economic Times - 15th May
  60. First Kolkata GST fraud arrests in Rs 40 crore 'scam' - Times of India - 15th May
  61. Free Banking Services From GST Net, Says Finance Ministry Official - BloombergQuint - 15th May
  62. Sugar cess under GST: GoM to seek opinion from Law and Food Ministry - Economic Times - 14th May
  63. GST, falling property prices push NPAs in LAP, CV loans: Report - Money Control - 14th May
  64. Income Tax lens on top buyers of Nirav Modi jewellery - Economic Times - 14th May
  65. How State budgets will fare if petrol, diesel are brought under GST - The Hindu Business Line - 13th May
  66. Malaysia has sufficient revenue to remove GST, says Mahathir Mohamad - Business Standard - 13th May
  67. PCA review of 11 state-run banks on May 17 - Economic Times - 12th May, 2018
  68. Discontent over GST helped fell Malaysia’s ruling party. Should Modi worry? - Quartz India - 11th May
  69. DFS to approach revenue dept over GST on free services by banks - Money Control - 11th May
  70. No consensus on GST concession for digital payments - Hindu Business Line- 11th May
  71. Karnataka election: GST and demonetisation are Narendra Modi’s forgotten heroes in high-octane poll campaign - FirstPost - 11th May
  72. This is how your documents are kept at GST Bhavan - Economic Times - 11th May
  73. Aadhaar lacks regulatory oversight: Supreme Court - Economic Times - 11th May
  74. SC reserves verdict on pleas challenging Aadhaar - Economic Times - 10th May
  75. GST On Electric Car Batteries Could Come Down Drastically - NDTV - 10th May
  76. 28% GST on luxury hotels likely to stay - Economic Times - 10th May
  77. Hotel, restaurant services provided to SEZ units taxable under GST: AAR - Money Control -10th May
  78. You don't even have 0.77999999999883585 per cent chance to escape GST scrutiny - Economic Times - 9th May
  79. Chidambaram backs Rahul Gandhi's assessment of GST as Gabbar Singh Tax - Times of India - 9th May
  80. Tax Department Unearths 100 Crore Evasion By Delhi Catering Firms - NDTV - 8th May
  81. Food items served on train to attract full GST rate: AAR - Economic Times - 8th May
  82. 7th Pay Commission recommendations led to high inflation in India; here’s what UN says on India’s GDP growth - Financial Express - 8th May
  83. GST, bank balance sheet problems pushed India's economic growth downward but recovery expected: UN - Economic Times - 8th May
  84. Nestle to pay up for failing to pass on GST cut benefit - Economic Times - 8th May
  85. GST’s complicated - Editorial in The Hindu - 7th May
  86. Coaching classes to pay 18% GST, students bear brunt - Times of India - 7th May
  87. Petrol and Diesel prices at a high – GST council to take decision - RushLane.com - 5th May
  88. GST Council meet: Move for sugar cess takes away sweetness of simplification of procedures; it must be junked - First Post - 5th May
  89. Two GoMs constituted to consider Incentivizing digital payments in GST and Imposition of Cess on Sugar under GST - Business Standard - 5th May
  90. Govt moves to monthly GST return filing, junks current three-stage process - Times of India - 5th May
  91. GST Council unveils new, simplified return filing process old formats to continue till then - Economic Times - 4th May
  92. Gujarat HC issues notices Centre, state govts on plea on GST - Money Control 3rd May - Petition challenges "absence of provisions" under the GST Act which "blocks" advocates from availing the input tax credit.
  93. GST Council to decide on easing return filing on Friday - The Hindu - 3rd May
  94. Another cess coming? GST Council may approve imposition of Sugar cess - Economic Times - 3rd May
  95. CBI arrests 4 deputy commissioners of customs for demanding Rs 50 lakh bribe - Times of India - 1st May
  96. May 4 GST meeting to influence market significantly: Madan Sabnavis, CARE Ratings - Economic Times - 30th April
  97. GST revenue target set at Rs12 trillion for FY19 - Live Mint - 30th April
  98. E-commerce companies may need to prepare for withholding tax in two months - Economic Times - 30th April
  99. CBI arrests 4 deputy commissioners of customs for demanding Rs 50 lakh bribe - Times of India - 1st May
  100. Digital tax revolution will be delayed by Brexit - The telegraph - 1st May
  101. May 4 GST meeting to influence market significantly: Madan Sabnavis, CARE Ratings - Economic Times - 30th April
  102. GST revenue target set at Rs12 trillion for FY19 - Live Mint - 30th April
  103. E-commerce companies may need to prepare for withholding tax in two months - Economic Times - 30th April
  104. Easing the burden: No filing of returns in new GST model - Financial Express - 28th April
  105. GST added Rs 90,000 crore a month to govt kitty in FY18 - Economic Times - 28th April
  106. Providing services outside India? This may not be an export and may attract GST - Economic Times - 28th April
  107. Quoting Unique Identity Number on GST invoice is mandatory - Economic Times - 27th April
  108. Modi government collects Rs 7.41 trillion from GST in 2017-18 - Business Standard - 27th April
  109. Arun Jaitley Attends Cabinet Meeting, To Chair GST Council Meet On May 4 - NDTV- 25th April
  110. Government made 376 changes related to GST in 10 months: Export promotion council for SEZs - Economic Times - 25th April
  111. GST Council meet on May 4, simplifying returns on agenda - Economic Times - 25th April
  112. Finance Ministry To Move To Cash Basis Accounting For GST Collection - BloombergQuint - 24th April
  113. GST: Four states, Puducherry to roll-out intra-state e-way bill from 25 April - FirstPost - 23rd April
  114. Government Exploring Sugar Cess And A GST Cut On Ethanol - Bloomberg Quint - 23rd April
  115. Govt advances deadline for GST seller returns for April, May, June - Business Standard - 19th April
  116. Get ready for a GST scorcher this summer, Council unlikely to cut rates on ACs, refrigerators - Money Control - 20th April
  117. Single-page GST filing system to be ready in 3-6 months: Hasmukh Adhia - Money Control -20th April
  118. ‘Duty Free’ Shops At Delhi International Airport Liable To Pay GST - Bloomberg Quint - 22nd April
  119. India must fully implement GST to avoid tax revenue underperformance: IMF - Money Control - 18th April
  120. GST returns filing: Sushil Modi panel unveils new fusion model - Zee Business - 18th April
  121. Prabhu assures exporters of taking up GST refund issue with Fin Min - Money Control - 18th April
  122. Government to mandate single GST return a month to ease burden - Times of India - 18th April
  123. FinMin clarifies on return filing by businesses opting for composition scheme - Economic Times - 17th April
  124. Brace for shocks on salary day while your company tries to fend off GST googlies - Economic Times - 16th April
  125. Two held for GST fraud in Gurugram - Business Standard - 16th April
  126. Manufacturers May Soon Find Themselves In A GST Tax Pickle - BloombergQuint - 16th April
  127. Get ready for a GST scorcher this summer, Council unlikely to cut rates on ACs, refrigerators - Money Control - 20th April
  128. Govt advances deadline for GST seller returns for April, May, June - Business Standard - 19th April
  129. India must fully implement GST to avoid tax revenue underperformance: IMF - Money Control - 18th April
  130. GST returns filing: Sushil Modi panel unveils new fusion model - Zee Business - 18th April
  131. Prabhu assures exporters of taking up GST refund issue with Fin Min - Money Control - 18th April
  132. Government to mandate single GST return a month to ease burden - Times of India - 18th April
  133. FinMin clarifies on return filing by businesses opting for composition scheme - Economic Times - 17th April
  134. Brace for shocks on salary day while your company tries to fend off GST googlies - Economic Times - 16th April
  135. Two held for GST fraud in Gurugram - Business Standard - 16th April
  136. Manufacturers May Soon Find Themselves In A GST Tax Pickle - BloombergQuint - 16th April
  137. E-tailers may have to clarify if they profiteered from GST cut - Economic Times - 16th April
  138. Companies may have to restructure salary packages of employees to reduce GST impact - Ecnomic Times - 16th April
  139. Gobbledygook and GST rules - Business Standard - 16th April
  140. GST: CBIC lays out procedure for inspection of goods under E-way bill - Indian Express - 15th April
  141. Rationalise GST, cut corporate tax rate to 18%: CII President - Economic Times - 13th April
  142. Implementation of GST not 'unfixable' problem: Raghuram Rajan - Economic Times - 12th April
  143. Click for earlier articles - Page 3

Tax Risk Management Part 1

An Introduction

 

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

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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?

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Indirect Tax Risk Management

Indirect Risk Tax Management
 

 

 

 

Economic Survey of India 2017-18