GST Rate on services provided by sub-sub-contractors to the main contractor – AAAR M/s. Shreeji Earth Movers
Fact of the case M/S Kababhai Popatbhai Savalia (Shreeji Earth Movers) (“the Applicant”) is a registered firm having is engaged in providing works contract service directly to sub-contractors who execute the contract with the main contractor for original contract work with the irrigation department (State of Gujarat). The Government Irrigation Division awarded work contract to […]
Phased Implementation of Electronic Cash Ledger (ECL) in Customs w.e.f 01.04.2023
The Electronic Cash Ledger (ECL) functionality under Customs Act, 1962 provides enabling provision whereby the importer, exporter or any person liable to pay duty, fees etc., under the Customs Act, has to make a non-interest-bearing deposit with the Government for the purpose of payment. The statutory provision came into force on 01.06.2022. Pending development of […]
Time limit for Reporting Invoices on the IRP Portal
It has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than or equal to 100 crores. To ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 7 days on the date of […]
Key Takeaways from the Latest GST Notifications on 31st March 2023
The government makes changes to the GST laws and regulations on a regular basis in order to improve and streamline the system. The government issued a series of GST notifications on March 31, 2023. Highlights of these notifications is as follows: Late fee waiver for FORM GSTR-4: Notification No. 02/2023–CENTRAL TAX Period Nature of Return […]
GST on under-construction residential properties: Key points to know for buyers and developers
It will be having huge impact of the increased rate of Jantri in Gujarat on the real estate sector and the broader economy. Jantri is a government-mandated rate used for determining the value of real estate assets and is used to calculate stamp duty and registration fees for property transactions. The increase in Jantri will […]
Input Tax Credit Denied Over Doubts About Transaction Authenticity
Ecom Gill Coffee Trading Pvt Ltd vs Karnataka VAT Authorities: Supreme Court Decision Key Takeaways from Supreme Court Judgment The case involves a dispute between the State and several purchasing dealers who claimed input tax credit (ITC) on purchases made from certain dealers. Assessing Officer denied Input Tax Credit (ITC) to certain purchasing dealers due […]
GST NUMBER TO PROFESSIONALS WORKING FROM HOME
Can GST registration be obtained on a residential address? – RAJYA SABHA UNSTARRED QUESTION No. 1488 ANSWERED ON 14/03/2023 The Central Goods & Services Tax Act, 2017 allows professionals, including architects, management consultants, and others, to obtain GST registration on their residential address. Because of the COVID-19 pandemic, many senior professionals and consultants have begun […]
HSN Code Reporting in e-Invoice on IRPs Portal
It is now mandatory for taxpayers to report a minimum of six-digit valid HSN code for their outward supplies having AATO of more than 5 crores in any previous financial year. (As per notification no. 78/2020 – Central Tax dated 15th October 2020) This requirement has already been implemented in the GST system, and are […]
Advisory for the taxpayer wishing to register as “One Person Company” in GST
As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member. Some issues have been raised by the persons registering as ‘One Person Company’ while they take GST registration. Upon analysis, it has been noticed that the option of choosing […]
GSTN launches e-invoice registration services with private IRPs
In another step towards further digitization of the business process flow, GSTN has launched the e-invoice registration services through multiple private IRPs at the recommendation of the GST Council. Four private companies viz. ClearTax, Cygnet, E&Y and IRIS Business Ltd were empaneled by GSTN for providing these e-invoice registration services to all GST taxpayers of […]