Sachin Jindal

Browse Categories
Transition Plan | New GST Return Implementation
Blog
Sachin Jindal

Transition Plan | New GST Return Implementation

Implementation of new GST Return formats was finalized in 31st GST Council meeting and earlier it was decided to implement the same from April, 2019 onward on trial basis and from July, 2019 onwards on compulsory basis. However, implementation could not be made in such manner. Ministry of Finance has shared a transitional plan for implementation of such new gst return formats in phased manner vide press release dated 11th June, 2019 which is as follows: Month Phases of New GST Return format implementation May, 2019 A prototype of offline tool of new return format has been shared which looks

Read More »
FIR under IPC for offence committed under GST Law
Blog
Sachin Jindal

Sustainability of First Information Report (FIR) under IPC for offence committed under GST Law

Judgment of Hon’ble Allahabad High Court in the matter of M/s Govind Enterprises Vs. State of U.P. and other has analyzed sustainability of FIR lodged for prosecution under Indian Penal Code for an offence committed under Central goods and Service Tax Act. Hon’ble high court has held that Section 131 of GST law impliedly save provisions of Indian Penal Code. Further, an offender can be prosecuted for same offence under two enactments; however, he can’t be punished twice for same offence. Therefore, impugned FIR and proceedings are maintainable. Hon’ble High Court further held that granting of stay from arrest will

Read More »
National Anti-Profiteering Authority rules on passing on benefits of lower GST rate to home buyers
Blog
Sachin Jindal

National Anti-Profiteering Authority rules on passing on benefits of lower GST rate to home buyers

Introduction The NATIONAL ANTI-PROFITEERING AUTHORITY ruled that profiteering should be determined at the point in time and not at the completion of the project. As the developer had availed ITC during the project tenure, the developer was liable to pass on the benefits of lower GST to home buyers by way of commensurate price reduction. The NATIONAL ANTI-PROFITEERING AUTHORITY agreed with the findings of the DGAP and directed the developer to refund the net benefit of ITC by way of price reduction and excess GST collected from the flat buyers, along with interest @ 18% per annum. Salarpuria Real Estate

Read More »
Verification of Transitioned Credit
Blog
Sachin Jindal

Verification of Transitioned Credit – Snapshots

CBEC has issued a detailed circular no. D.O.F. No. 267/8/2018-CX.8 on Verification of Transitioned Credit to GST through Form TRAN-1. Key aspects are stated below:  Credit verification to be remain the primary focus area during Fy 18-19. Credit verification to take place by CGST authorities even if the jurisdiction is with state Credit of KKC/SBC/E cess is not eligible Each line wise data in Tran-1 to be verified in detail Supporting documents and other info to be sought from assessee Credit taken in excess of INR 25 Lakhs is being verified  List of 50000 assessee is being targeted for initial verification

Read More »
27th GST Council Meeting
Goods and Service Tax
Sachin Jindal

Key Takeaways from 27th GST Council Meeting

GST Council in its 27th GST Council meeting held in New Delhi today, ie, 4th May, 2018 has made the following recommendations which are stated below: One monthly Return All taxpayers excluding a few exceptions like composition dealer shall file one monthly return. Return filing dates shall be staggered based on the turnover of the registered person to manage the load on the IT system. Composition dealers and dealers having nil transaction shall have the facility to file quarterly return. Unidirectional Flow of invoices There shall be unidirectional flow of invoices uploaded by the seller on anytime basis during the

Read More »
Bill to ship to model in E Way Bill
Blog
Sachin Jindal

Issues Regarding “Bill To Ship To” for e-Way Bill Under CGST Rules, 2017

A number of representations have been received seeking clarifications in relation to requirement of e-Way Bill for “Bill To Ship To” model of supplies. Bill to Ship to Model In a typical “Bill To Ship To” model of supply, there are three persons involved in a transaction, namely:  “A” is the person who has ordered “B” to send goods directly to “C”. “B” is the person who is sending goods directly to “C” on behalf of “A”. “C” is the recipient of goods. 2. In this complete scenario two supplies are involved and accordingly two tax invoices are required to be issued:

Read More »
CLARIFICATION-ON-ISSUES-RELATING-TO-REFUND
Blog
Sachin Jindal

CLARIFICATION ON ISSUES RELATING TO REFUND

Various representations have been received seeking clarification on issues relating to refund. In order to clarify these issues and to ensure uniformity in the implementation of the provisions of law across the field formations, the Board, in exercise of its powers conferred by section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as “CGST Act”), hereby clarifies the issues as detailed. Submission of invoices for processing of claims of refund Now no need to submit copies of invoices (either original or duplicate). Refund claim shall be accompanied by a print-out of FORM GSTR-2A of

Read More »
Issues Related to SEZ and Refund of Unutilized ITC to fabric processors
Blog
Sachin Jindal

Circulars Clarifying Issues Related to SEZ and Refund of Unutilized ITC for Job Workers Circular No. 48/21/2018-GST

Representations have been received seeking clarification on certain issues under the GST laws. Further clarification has been asked with respect to Refund of Unutilized ITC to fabric processors. The same have been examined and the clarifications on the same are as below: Whether services of short-term accommodation, conferencing, banqueting etc. provided to a Special Economic Zone (SEZ) developer or a SEZ unit should be treated as an interState supply (under section 7(5)(b) of the IGST Act, 2017) or an intra-State supply (under section 12(3)(c) of the IGST Act, 2017)?  1.1 As per section 7(5) (b) of the Integrated Goods and

Read More »
Principal Agent relationship under GST
Blog
Sachin Jindal

Clarification on Principal Agent relationship under GST

The supply of goods by an agent on behalf of the principal without consideration has been deemed to be a supply. In this connection, various representations have been received regarding the scope and ambit of the principal-agent relationship under GST. Relevant entry of Schedule 1 – 3. Supply of goods— by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; or by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal.  Hence, all the activities between the principal and the agent and vice

Read More »
All About Eway Bill
Eway Bill
Sachin Jindal

All About E way Bill

What is E-Way Bill E Way Bill is electronic document Contain two parts – Part A and Part B To be generated before causing movement of goods on GST common portal as per rule 138 of CGST 2017 To be generated by registered person who cause movement of goods or transporters Prior the actual movement of goods Generation of e-way bill on E Way Bill portal Stakeholder of E Way Bill Suppliers – Generate the e-Way Bills and reject the e-Way Bills generated by other party against his/her name if it does not belong to him/her. Recipients – Generate the e-Way Bills

Read More »



Want to talk to us

Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118

V J M & Associates LLP

Contact Us

Join The Club!

Join the list of 200000 entrepreneur

Lets informed

X