* Penalties & Interest for the FY 2017-18 to 2019-20 waived off if taxpayer pay complete tax amount by 31,March,2024(excluding cases of erroneous refund section(128A). * ⁠The deadline to claim input tax credit on invoices and debit notes from FY 2017-18 to 2020-21 has been extended to Nov 30, 2021 through form GSTR 3B filing […]

The idea of Goods and Services Tax Act based upon the principle “One Nation, One Tax” which means that the tax payer shall be levied a single tax instead of other different taxes prevailing in earlier regime. With this idea in mind, the legislature has inserted section 6 under the Act whereby the authorization of […]

Introduction A show cause notice is a preliminary step taken by an authority before taking any disciplinary action against anyone. It gives a chance to the recipient to explain why a certain action should not be taken against him. In Goods and Services Tax Act, 2017, the provision of issuing a show cause notice is […]

Brief on Section 50(1) of GST Act, 2017 Introduction: Interest is a percentage of amounts that one pays or recovers on the total amount over a certain period of time. Since the inception of money markets, the concept of interest has evolved. It plays a crucial role in money markets and overall economic health. Like […]

                    … Dr. Naveen Rattan, Advocate.  Amritsar                                                            Every rational being will readily agree that Laws are meant for strict compliance. Such compliance is ensured by those for whom […]

By Dr. Naveen Rattan   Karan Rattan Recently, Lok Sabha has passed 122nd constitutional amendment (GST) Bill as amended by the Rajya Sabha. It is basically a single tax on the supply of goods and services right from the manufacturer to the consumer. Undoubtedly credits of input taxes paid at each stage will be available […]

….Dr. Naveen Rattan, LL.M. (Gold Medalist), Ph.D. Amritsar, Punjab. Right of Appeal:                       Section 79 of GST of Act grants a right to any person to file an appeal against any decision or order passed by the adjudicating authority under this Act to the prescribed First Authority within the period of three months from the date […]

In the budget this year, certain changes were announced to the system of Tax Collection at Source (TCS) on payments under Liberalised Remittances Scheme (LRS) & on overseas tour program packages. These were to take effect from 1st July 2023 according to the CBDT Circular No.10/2023 dated30/06/2023. The Finance act 2020 has inserted a new […]

The Indian gaming industry has emerged as a global leader, driven by expansion of digitalexcess in the country. India’s gaming market is now the largest gaming market, surpassingthe US and China. The sector is growing tremendously and this growth has led to emergenceof several Indian gaming companies. While the government has also supported this growthby […]

In order to protect the interest of the small taxpayers and small scale industries, the feature of Composition Scheme is provided under GST. Where the registered person can opt to pay tax at a lower percentage, without entering in the GST credit chain and thus be relieved from the detailed compliance of the provisions of […]