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  • Article on Zero-rated Supplies under GST after Budget 2021

    The Goods and Services Tax (GST) has completed around 3 years of its implementation. GST has been recently known for increasing the compliance burden on taxpayers in view of simplifying tax systems and making it online. Further, GST was introduced with a motive to remove cascading effect by introducing a system of seamless flow of credit, however, the word

  • All About GST Amendment Proposed In Finance Bill 2021

    Amendment in Section 7 of CGST Act, 2017
    Clause 99 of the bill proposes to amend section 7 of the act i.e. the term supply by inserting a new clause (aa) in sub section 1 with retrospective effect from 1st july,2017 ,so as to ensure levy of tax on activities or transactions involving supply of goods or services by any person, other than an individual ,to its members or constituents or vice-versa ,for cash, deferred payment or other

  • All About Refund Under GST- Not an Easy Nut to Crack

    Last month, the government introduced legislation to implement the purchaser GST withholding regime for new residential premises.

    The Treasury Laws Amendment (2018 Measures No. 1) Bill 2018, if passed in its current state, will see purchasers of new residential premises or

  • Security Force Society shall pay 18% GST - A Note

    The Gujarat Authority of Advance Ruling (AAR) ruled that the Gujarat Industrial Security Force Society to pay 18% GST on the entire amount received from their clients, including wages etc. to be paid to the Security Guards, establishment charges. The applicant, M/s. Gujarat Industrial Security Force Society has submitted that there are more than 5000 security guards

  • All About Input Service Distributor (ISD) | Section 20 & 21 | CGST Act 2017 | GST

    1. The concept of Input Service Distributor (ISD) has its roots in the service tax regime. The Head office of an organization obtains services that are common for all the company’s units located across the country. The supplier of such services issues an invoice in the name of the company’s head office. These services are utilized by all the units of the

  • All About Supply of vouchers & it’s taxability under GST

    With the increasing trend of electronic commerce, adoption of prepaid vouchers and gift cards has reached new heights. Vouchers are instruments which are redeemable on its face value against supply of goods or services. For example, multi-brand retailers supply gift

  • All About Amendments of Details in GSTR 1 and Error Messages

    In GST law, outward supplies are reported through GSTR-1 which serves a lot of purpose for:

    Supplier – GSTR 1 Helps in determination of Outward liabilities

    Recipient- GSTR 1 helps in

  • GST on street lighting activity under Energy Performance Contract- An Overview

    In re Karnataka State Electronics Development Corporation Limited (GST AAR Karnataka)
    i. Whether the street lighting activity under the Energy Performance Contract dated 05.12.2016 is to be considered as Supply of goods or a Supply of Services under the CGST / KGST Act 2017?

  • Article on Direct & Indirect Tax Updates June 2021


    Recent circulars/ notifications/ rules/ clarifications/News

    ♦ CBDT issues Notification extending various Income Tax due date extended to the 30th September, 2021)

  • All About GST Audit Checklist FY 2021-22

    Goods and Service Tax (“GST”) is the major source of revenue for both center and state governments and any non-compliance on part of the taxpayer may result in huge losses to the government. Government keeps various checks to ensure that taxpayers are complying with the provisions and all transactions are genuinely entered such as Reconciliation ITC appearing in

  • Key Concepts in Standard on Auditing 200-299

    SA 200: Overall  Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing

    Objective of audit to obtain Reasonable Assurance about Financial Statements are free from Material Misstatements and express opinion in form of Audit Report.

    Auditor should fulfill Ethical Requirements in Relation to Audit of Financial Statements.


  • Different Types of ROC E-Forms

    Form DIR-3C: - Intimation of Director Identification Number (DIN) by the company to the Registrar DIN services              

    Form CRL-1: - Information to the Registrar by company regarding the number of layers of subsidiaries. 

    Form CRA-2 -Form of

  • CA Final Direct Tax Amendments as applicable for May 2018 and Nov 2018 by CA. Dinesh Tejwani for CA students and CA professionals

    CA Final Direct Tax Amendments as applicable for May 2018 and Nov 2018 exams B...

  • Recent Updates in Goods and Service Tax – GST

    Applicability of E - Way Bill on Inter State Basis from 1st April 2018:-

    From 1st April 2018 E – Way Bill

  • Composition Scheme under Goods and Service Tax

    To Reduce Burden of More Compliance of Law and Regulation under Goods and Service Tax Composition Scheme was introduced by Government of India for Small Businesses. It helps small businessmen to concentrate more on business rather than Compliance of Goods and Service Tax. Composition Scheme is defined under section 10

  • Supply in Goods and Service Tax

    Supply means and includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.

    Input Tax Credit (ITC) in GST and Utilisation of Input Tax Credit


    Input Tax Credit (ITC) means Integrated Goods and Service Tax (IGST), Central Goods and Service Tax (CGST), State Goods and Service Tax (SGST) and Union Territory Goods and Service Tax (UGST) charged on Supply of Goods or Supply of Service or Supply of Both Made to Tax Payer to use in business and furtherance of his business i.e. Integrated Goods and Service Tax

  • Implication of Securities Transaction Tax (STT)


    Securities Transaction Tax (STT): -Securities Transaction Tax is type of Tax levied on Purchase or Sale of Securities (Equity Shares, Equity Oriented Mutual Fund, and Option Contracts in Securities and Futures in Securities etc.)  through recognized stock exchange. Any Assesse

  • Different Assessment Under Income Tax Act

    Assessment: -Assessment means Assessing Taxable Income of Assessee and Tax Liability their on by Assessee himself/herself or by Assessing Officer. Assessment includes reassessment.

  • GST: A major indirect tax reform

    The introduction of GST in India is now a reality,
    with the Government stepping on the speed
    button to bring in GST live with effect from
    July 2017. A thorough preparedness of the
    organization before the actual implementation
    of GST is the need of the hour. GST proposes