Implications of the Supreme Court’s Judgment on Employee Secondment and Instruction No. 05/2023-GST
Introduction In a recent directive from the Government of India’s Ministry of Finance, the Department of Revenue, Central Board of Indirect Taxes and Customs, GST Policy Wing, has addressed a critical issue that has been the subject of much debate in the corporate world. The directive, dated 13th December 2023, pertains to the Supreme Court’s […]
Decoding the Impact of Soft Drink Composition on GST
Soft drinks, ubiquitous in our daily lives, have recently found themselves under the spotlight yet again due to the implementation of Goods and Services Tax (GST). The complexity surrounding their tax structure in India has long been a matter of discussion, owing to the absence of clear guidelines in the realm of service tax. Understanding […]
Demystifying GST on Rent of Residential Properties: What Landlords and Tenants Need to Know
Are you navigating the Complex of GST regulations surrounding residential property rentals? Whether you’re a landlord renting out your property or a tenant leasing a space for your business, understanding the nuances of Goods and Services Tax (GST) is crucial. Let’s delve into the essentials to demystify GST on rent of residential properties. Understanding GST […]
Navigating GST in E-commerce: Operator vs. Seller Responsibilities
In the intricate world of e-commerce, the realm of Goods and Services Tax (GST) can be a labyrinthine maze for both operators and sellers alike. One of the crucial distinctions lies in discerning who holds the responsibility for collecting and remitting GST to the government. Let’s embark on a journey to unravel this complexity and […]
Advisory on Reset and Re-filing of GSTR-3B: A Step Towards Tax Compliance
In the realm of taxation, accuracy and transparency are essential for maintaining the integrity of the system. Recently, the Goods and Services Tax Network (GSTN) has implemented a significant update to facilitate the revision of GST returns for certain taxpayers. This move comes in response to discrepancies identified during the filing process, particularly concerning Input […]
Understanding Blocked or Ineligible Input Tax Credit under Section 17(5) of the CGST Act
Input Tax Credit (ITC) forms the cornerstone of the Goods and Services Tax (GST) system in India. It allows businesses to offset the tax they’ve paid on inputs against the tax they are liable to pay on output, thereby preventing the cascading effect of taxes. However, not all input taxes are eligible for credit under […]
Supreme Court confirms service tax on secondments to Indian entity from overseas group entities.
While this is a judgment under the pre-GST service tax laws, the legal provisions analyzed in this judgment are similar to corresponding provisions under GST and to that extent, this judgment has the potential to re-open the Pandora box of service tax/GST issues on secondment/deputation of manpower, whether from outside India to India or within […]
Auto-population: A New Feature in “Table 12 – HSN Wise Summary of Outward Supplies” in GSTR-1
In the intricate landscape of Goods and Services Tax (GST) compliance, one key element often overlooked is the precise reporting of Harmonized System of Nomenclature (HSN) and Service Accounting Code (SAC) details in GSTR-1. Yet, these codes hold the key to seamless tax reporting and compliance for businesses under the GST regime. Breaking the Silence: […]
Biometric-Based Registration Helps to Reduce Fake GST Registration in Gujarat
In recent years, the issue of fake GST registrations has become a significant concern for authorities in Gujarat, leading to substantial losses in revenue due to tax evasion. However, a recent initiative involving biometric-based registration has shown promising results in curbing this fraudulent activity. Since November 2023, when biometric authentication was introduced as part of […]
GST Treatment on Discounts: A Comprehensive Guide
Discounts serve as powerful tools for businesses to stimulate sales and prompt timely payments. However, understanding the intricacies of Goods and Services Tax (GST) treatment on discounts is vital for both suppliers and recipients. Let’s delve into the legal provisions and practical scenarios to gain a comprehensive understanding of GST treatment on discounts. Legal Framework: […]