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Tax Amicus: December 2019

The recent judgement of the Supreme Court in ITC v. CCE, Kolkata has been quite unsettling for the assessees, as their refund claims are being rejected because of non-challenge to the assessment. However, this ruling is likely to pose an issue for the department as well. The Court has ruled that even the department needs to challenge the assessment by filing an appeal under Section 128 of the Customs Act, 1962 before coming to demand route under Section 28.

Tax Amicus: November 2019

The CBIC has on 9th October 2019 notified yet another round of amendments to the CGST Rules which may have far reaching implications for the trade and industry both from the point of view of increased burden of compliances and financial hit that the companies may now be forced to take on account of blocked mis-matched input tax credits.

Tax Amicus: October 2019

The article in this 100th issue of Tax Amicus attempts to analyse the question as to whether the investment income earned in the form of dividends arising on account of ownership of shares is to be taken into consideration for reversal of common input tax credit under Rules 42 and 43 of the Central Goods and Services Tax Rules, 2017.

Tax Amicus: September 2019

While the dispute on levy of piggy-back cesses such as education cesses, where duty payments were made by debit to the duty credit scrips such as DEPB scrips, is yet to settle down, the controversy has come back with a renewed vigor under the present MEIS duty credit regime and the Social Welfare Surcharge (SWS) levy.

Tax Amicus: August 2019

The first article in this issue of Tax Amicus deals with GST implications on provision of various facilities by the employer to the employee.

Tax Amicus: July 2019

Better late than never – A sigh of relief for real estate developers By Narendra Kumar Singhvi The first article in this issue of Tax Amicus highlights the impact of recent decision of the Gujarat Hi

Tax Amicus: June 2019

GST 3.0 – The way forward! By Brijesh Kothary GST is entering third year and priority of the government is now shifting from implementation to securing revenue. However, what has taken au

Tax Amicus: May 2019

ITC reversal on sale of used capital goods By Tushar Mittal GST law is moving towards its second anniversary yet most taxpayers are facing challenges in implementation

Tax Amicus: April 2019

Expenses incurred on CSR – Not so GST friendly? By Koushal Sonthalia Corporate Social Responsibility (CSR) activities are mandatory under Companies Act, 2013. Companies may incur expenses o

Tax Amicus: March 2019

Breaking the credit chain – An avenue to boost revenue? By Brajesh Kothary The conditions, as recommended by the GST Council in its meeting held on 19-3-2019, bar builders from taking ITC on goods an

Tax Amicus: February 2019

Liability to pay interest – An interesting interpretation By Rahul Jain & Rohan Muralidharan First article in this issue of Tax Amicus deals with the issue as to whether interest needs to be paid o

Tax Amicus: January 2019

Inverted duty structure in exports – Perplexity in refund By Chaitanya R. Bhatt & Saurabh Malpani The provisions of CGST provide appropriate relief via refund that can be applied under section 54(