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February 21, 2023
Exploring the Decisions and Dynamics of India’s GST Council

In 2017, India adopted a new tax rule called GST, or Goods and Service Tax. This comprehensive tax structure replaced the complex indirect tax system already prevailing in the country. With the implementation of GST, a uniform tax system became applicable and headed by the GST council - a constitutional body comprising members representing central...

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February 19, 2023
49th - GST Council Meeting
49th GST Council Meeting – Major Takeaways

The 49th GST council meeting chaired by the Finance Minister, Smt Nirmala Sitharaman, discussed many issues at length but delivered only on a few fronts. While a lot was expected from the meeting, only the following major points were the outcome: Exports of pan masala, gutka, and chewing tobaccos are to be allowed against LUT...

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February 11, 2023
ITC on CSR Activities
Input Tax Credit on CSR expenses is denied

GST law is based on the value added concept whereby one is required to pay tax only on the value he adds in the goods or services he deals in. This concept works on the mechanism of Input Tax Credit. However, GST law provides a list of items on which ITC is restricted and therefore...

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February 3, 2021
ITC on Personal Effects

A question that often arises in a common buyer’s mind is whether or not they will get ITC on purchases like phones, watches, I-pads, etc. which was purchased for business use. They find it hard to distinguish whether it is used for office purposes or personal consumption, owing to the thin line between the two.  ...

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February 2, 2021
ITC on Purchasing motor vehicles and their repairs

A lot of car dealers get this question from their customers, what is the GST provision on the credit admissibility on purchase of a motor vehicle and the repairs done on it? From the customer’s point of view, section 17 (5) of CGST Act clearly states, if a motor vehicle has a capacity of fewer...

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January 30, 2021
Budget 2021 Expectations
Expectations from the upcoming Union Budget

We are just 2 days away from a historical, promised budget where the Hon’ble Finance Minister, Nirmala Sitharaman, will give her third budget speech on Feb 1.  We hope that this new Union Budget infuses hope in the economy, especially for the infrastructure sector that is reeling. It should provide a road map to the...

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January 11, 2021
ITC eligibility when the supplier has not paid GST to the Government. 

All tax-paying businesses are eligible for a certain amount of Input Tax Credit (ITC) on the GST paid for goods that were purchased for reselling. This is one of the basic tenets of taxation law. But what happens if the supplier of those goods hasn't paid their GST? Can the purchaser avail for ITC under...

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January 11, 2021
ITC on damaged goods

Let us suppose that a car dealer owns a warehouse full of cars. Due to a natural calamity, this warehouse is flooded. All the cars are damaged - some completely, others partially. In this situation, what happens to the ITC claim of the dealer on those cars? What does the GST Act provide for on...

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January 11, 2021
ITC can be claimed on the GST paid for distributable promo merchandise

Bringing a fair conclusion to the long-disputed issue of whether or not ITC is admissible on GST paid for promotional expenses, the Karnataka bench of Authority for Advance Ruling (AAR) ruled that ITC will be available on such cases. As the supply of promotional goods within related parties, such as franchise, is considered a 'taxable...

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December 10, 2020

Since the introduction of GST in India a few years ago, there has been much discourse and deliberation on whether or not the power sector (or electricity) should be brought under the GST umbrella. With many entities, big and small (including power companies), maintaining that it should be brought under GST since it would be...

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