Articles by CA. Heet Shah

Retrospective Amendment - Interest on Tax payable under Section 50 on Net Tax liability

Posted by CA. Heet Shah 08 June 2021 3756 Views

Section 112 of the Finance Act 2021 shall come into force on 1st June 2021. This section seeks to amend Section 50 of the CGST Act, 2017 which relates to Interest on Delayed Payment of GST.

Persistence: The key to success

Posted by CA. Heet Shah 07 June 2021 2871 Views

Think about all of the famous entrepreneurs - Arianna Huffington, Steve Jobs, Elon Musk, Bill Gates etc. They all showed up every single day. They showed up when they didn't want to. Thus, Persistence is the key to success.

Planning of Internal Audit Assignments

Posted by CA. Heet Shah 07 June 2021 7839 Views

An Audit Committee is required to formulate the overall internal audit plan of the company which includes planning the scope, functioning, periodicity, and methodology for conducting the internal audit.

Gather all Courage and Have a Burning Fire Inside

Posted by CA. Heet Shah 01 June 2021 2404 Views

One might be good at one thing and bad at the other while the other person might be the exact opposite. Similarly, when at times, you lack the most essential thing in life that keeps you going; the other person might be full of it.

Inspections under GST - When & who can be inspected?

Posted by CA. Heet Shah 17 May 2021 1681 Views

'Inspection' is a softer provision than search which enables officers to access any place of business or of a person engaged in transporting goods or who is an owner or an operator of a warehouse or godown.

Self-generated Tax Invoice for GST supply under RCM along with the Invoice format

Posted by CA. Heet Shah 07 April 2021 72654 Views

The person liable to pay tax under reverse charge shall be required to issue an invoice in respect of goods/services received by him from the unregistered supplier.

Brief about E-invoicing under GST

Posted by CA. Heet Shah 02 April 2021 15144 Views

As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare an invoice by uploading specified details of the invoice on IRP and obtain an IRN. The Invoice containing IRN is known as ‘e-invoice’ in GST.

Solution to the Dilemma faced by the Recipient of Deemed exports for claiming refund !!!

Posted by CA. Heet Shah 15 March 2021 6830 Views

Discussing whether, as per Rule 89(1) of CGST Rules, 2017, the recipient of deemed supply applying for refund has to claim ITC or not, in order to claim a refund?

GST Audits: Checks for supply to exporters at concessional rates @0.1%

Posted by CA. Heet Shah 15 March 2021 11304 Views

Discussing conditions that need to be satisfied in case one is supplying to a merchant wherein export is in excess of @0.1% (IGST) or 0.5% (CGST & SGST each).