Articles by Bimal Jain

Key highlights of the proposed GST changes in Union Budget 2023-24

Bimal Jain 02 February 2023 at 13:34

Amendments proposed in the Finance Bill, 2023, vide Clause 128 to 144 except clause no. 142, will come into effect from a date to be notified

Expected Changes in GST; Union Budget 2023-24 in the Finance Bill 2023

Bimal Jain 31 January 2023 at 12:29

Expected Changes in GST | Union Budget 2023-24

Recovery under GST without issuance of SCN is not permissible

Bimal Jain 26 October 2022 at 10:41

There was amendment in sec 75(12) of the Central Goods and Services Tax Act, 2017 ("the CGST Act"), which were introduced vide the Finance Act, 2021 but brought into effect only from January 1, 2022 through Notification no. 39/2021-central tax dated December 21, 2021.

Activities to be undertaken w.r.t GST Compliances for the FY 2021-22 in September 2022

Bimal Jain 26 September 2022 at 13:09

We have listed down certain important activities for the smooth amendment/ transition/ closure of FY 2021-22 for GSTR 9 & GSTR 9C

GST on Restaurant Services through Zomato, Swiggy, etc. & Reporting in GSTR-3B

Bimal Jain 04 August 2022 at 09:04

A new table Table 3.1.1 has been inserted as per [Notification No. 14/2022 – Central Tax dated July 05, 2022] in Form GSTR-3B and the same will be available on the GST portal from August 01, 2022 wherein both the ECO and registered restaurant can report supplies made under Section 9(5) of the CGST Act

Who are liable to generate e-invoice w.e.f 1st Oct 2022

Bimal Jain 03 August 2022 at 17:07

The GST Council, in its 37th meeting held on 20.09.2019, has recommended introduction of electronic invoice ('e-invoice') in GST in a phased manner. E-invoicing was initially made applicable w.e.f 01.10.2020 for the registered person having aggregate turnover of Rs. 500 crore and above only.

Important Changes in GST w.r.t Foods industry w.e.f July 18, 2022

Bimal Jain 19 July 2022 at 16:35

Earlier, there was exemption from GST on Unbranded or Branded Commodities where right on the brand has been foregone which has been done away w.e.f July 18, 2022, and now GST exempted only when it is not a pre-package and labelled commodities.

Can CA be arrested - Section 69 vs. Section 132 of the CGST Act

Bimal Jain 23 May 2022 at 16:50

In the administration of taxation, the provisions for arrests are created to tackle certain situations raised by some unscrupulous tax evaders. Arrest provisions may appear to be very harsh but these are necessary for efficient tax administration and also act as a deterrent and instil a sense of discipline.

SC: No IGST on Ocean Freight under RCM for CIF Import

Bimal Jain 23 May 2022 at 11:18

The Hon'ble Supreme Court in Union of India & Anr. v. M/s Mohit Minerals Pvt. Ltd.[Civil Appeal No. 1390 of 2022 dated May 19, 2022] upheld the judgement given by the Hon'ble Gujarat High Court to hold that no IGST is payable on ocean freight under Reverse Charge Mechanism ("RCM") for Cost, insurance, and freight ("CIF") imports as Indian importer is liable to pay IGST

Exemption cannot be denied once granted by the competent Revenue Authority on components required for solar power generation

Bimal Jain 23 May 2022 at 08:45

Whether the Appellant is entitled to the benefit of the Exemption Notification for the galvanised solar structure cleared to solar power generating companies?