MEDIA

 

RoDTEP – New Export Scheme from 1st April 2020

RoDTEP (Remission on Duties & Taxes on Export Products) shall replace MEIS,EPCG,DFIA,Advance License and many other benefits under Foreign Trade Policy from 1st April 2020. This video explains the Scheme and how industry should get ready for the same

 

This video discusses on 5 main reasons for E-Invoices & Preparations for E-Invoices per Expectations of Revenue.

Discussion on an Integrated 3-Way Approach to GST with

  1. E-Invoice
  2. Data Analytics & Artificial Intelligence
  3. E-WayBill

Happy to share article published in Dalal Street Investment Journal with the story line titled “Steps the Government Must Initiate to Widen the Tax Base in FY 2021”-By Vivek Jalan, Partner, Tax Connect Advisory Services LLP

GST authorities summon firms with 12 key docs for scrutiny, industry wary- views shared by Vivek Jalan, Partner, Tax Connect Advisory Services LLP on the double whammy on businesses due to Action by GST Authorities and low consumption.​

Economic Times ideas for Budget 2020:With High pitched disputes in Income Tax now pending since long,it’s now time for a VDRS(Voluntary Dispute Resolution Scheme) in Income Tax. Shared my views with the Economic Times on a need for such a sceme in Budget 2020, just as the FM also requested for ideas from industry

-views shared by Vivek Jalan, Partner and Co-founder at Tax Connect

In this video the author has tried to explain the entire new scheme of Faceless Assessments in Income Tax. In near future the same may be implemented in other tax laws also

New returns under GSTnto be applicable from April 2020. As a precursor, restriction on ITC to 120% of GSTR2A is already invoked -views shared by Vivek Jalan, Partner and Co-founder at Tax Connect

Times of India –click to view

LIVEMINT –  Click to view

HINDUSTAN TIMES – Click to view

CNBC TV – Click to view

Modi govt likely to bring ordinance to cut tax rates for individuals
-views shared by Vivek Jalan, Partner and Co-founder at Tax Connect

India TV –click to view

The Outlook –  Click to view

Free Press Journal – Click to view

The quint – Click to view

Team Outing| Nicco Park | 5th September,2019   

Speaking on how to claim income tax refund Vivek Jalan, Co-Chairman, Bengal Chamber of Commerce…Click here to View

Speaking on the need for income tax reforms and simplification of the direct tax system Vivek Jalan, Co-Chairman, Taxation Committee of Bengal Chamber of Commerce…Click here to view

Article By Vivek Jalan on Expectations from Union Budget 2019 published in English & Hindi in Financial Express and Zee Business
Financial Express English…Click here to view
Financial Express Hindi….Click here to view
Zee Business….Click here to view
Shared view by Vivek Jalan in Business Today on the decisions taken on 35th GST Council Meeting…..view

Analysis of 35th GST Councils meeting decisions and impact on Business

In Hindi Daily: Prabhat Khabar: shared views by Vivek Jalan on election result……. Click here to view

Hindustan Time Today: Article by Vivek Jalan on the new scheme to be chosen by real estate players from 20th May 2019.. Click to view article

Live Mint Today : Article by Vivek Jalan on the new scheme to be chosen by real estate players from 20th May 2019.. Click to view article

This video analyses the treatment in GST of various discounts and schemes like turnover discounts, buy one get one free schemes, pass back schemes, free samples, etc.

This video discusses about the Transaction of High Seas Sale & Third Country Export, the Taxation impact and including whether there is any requirement of reversal of ITC.

This Video discusses on the legal provisions of Set off of CGST of One State with CGST of Another State.VIMP to note before 31st March 2019. Can CGST of One State be Set off Against CGST of another State?

This video discusses-

1. Vagaries of mismatching in light of High Court decisions like “GheruLal Bal Chand
Vs State of hayana”
2. Reversal of ITC where there is no “failure of payment”
3.Reply to 2A Vs. 3B notices
4.whether ITC is available of canteen supplies, conferences, etc.

MAJOR IMPACT ON RECENT CHANGES IN THE GST LAW- OUR FURTHER EXPECTATION

 

Compliances Checklist for TCS u/s 206C(1H) : 3rd Release

This video discusses on a 10 Point Checklist and 5 Point Compliances required to be done by Businesses for the newly inserted provision of TCS on Sale of Goods u/s 206C(1H)

 

Relevances of Digital Evidences under Income Tax & GST Inspection, Search, Seizure & Survey

This video deciphers the following topics on Digital Evidences –

1. Apex Court Suo Motto Order dated 10th July 2020
2. Various Apex Court decisions relevant for Digital Evidences
3. Section 65B of The Indian Evidence Act
4. Digital/Cyber Forensic

 

GST E Invoicing, New Returns & Litigation Taxguru & Tax Connect GST Webinar

GST E-Invoicing (For 100 Crs + Taxpayers) Implementation vide GSP – End to End Analysis, How to deal with Recent Changes in GST Return, Preparation for Departmental GST Audit, How to Handle Risky Exporters & GST Litigations.

Tax Guru in association with Tax Connect is Organized a 1.5 Hour Workshop for discussions on ” How to deal with Recent Changes in GST Return, Preparation for Departmental GST Audit, How to handle Risky Exporters & GST Litigations” on the following topics-

1. GST E-Invoice (FOR 100 CRS + TAXPAYERS) : End to End Implementation through GSP

A. Why E-Invoicing

B. Flow of E-Invoicing & Changes to Current Invoicing

C. Data Analytics & Artificial Intelligence

D. Answering All Doubts w.r.t. E-Invoicing

2. How will Buyers (Large & Medium Sized Companies) deal with the recent changes in GST Returns. This will include discussion on –

A. Matching GSTR 2A Vs GSTR 2B

B. GSTR 2A Vs GSTR 3B

C. Dealing with IFF from 1st January 2021 (How to inform your suppliers)

3. Preparing for Departmental GST Audit. This will include discussions on –

A. Reconciliations with CBDT Data required by GST Audit Wing

B. GST Audit Manual 2019 issued by CBIC including various reconciliations required

4. How to Handle with ‘Risky Exporters’, ‘Risky Suppliers’ & ‘ITC Blockage’ 5. GST Litigations –

A. Major High Court & Supreme Court Cases

B. Status of “GST on Ocean Freight”

C. Replying to Notices under GST

 

GST Summons : Rights & Obligations of Taxpayers This video discusses on:

1. Valid Service & Non attendance of Summons

2. Deposit of Tax during Summons without assessments

3. Prosecution without assessments

4. Statement made during Summons

 

RESTRICTIONS UNDER GST VIDE GST RULES DT. 22ND DEC 2020

This video discusses on the –

1. Restrictions imposed by GST Amendment Rules dated 22nd Dec 2020

2. Impact on GST Registration due to certain anomalies

3. Rule 86B & Restriction of ITC to 105% and its impact

4. Whether to follow GSTR 2A or GSTR 2B

Regards Team Tax Connect

 

GSTR 9, 9C & GST Audit of 2019-20 : Critical issues & differences with earlier years’ GST Audits

This video discusses –

1. Differences in Table 8 of GSTR 9 of 2019-20 vis-a-vis earlier years

2. Differences in Table 6 of GSTR 9 of 2019-20 vis-a-vis earlier years

3. Impact of Instruction 2A on GSTR 9 of 2019-20

4. Impact of Rule 36(4) on GST Audit for 2019-20

5. Other critical issues in GSTR 9, 9C & GST Audit of 2019-20

Team Tax Connect

 

How to Handle GST Refunds & PAN India GST Litigation

1. Threadbare Analysis of Indirect Taxes (GST & Customs) Amendments & Other Recent Amendments in Union Budget 2021.

2. Recent Developments in GST Law and Impact on Large Organizations –

A. Discussion on recent notifications and circulars

B. Discussion on amendment of GST Act & Rules

C. Impact of amendments on large companies

D. Preparation for the changes in GST

 

Topic to be Covered is:

a.How to reply to GST Notices & Handle GST Litigation

b.How to handle DGGI/DRI/DGARM Scrutiny

c.Section-wise Analysis of Favourable High Court & AAR Rulings under GST, beneficial for Trade.

How to reply to GST Notices & Handle DGGI/DRI/DGARM Scrutiny including –

A. Discussion of common notices under GST and their replies

B. How to prepare for GST Assessments and Audits

C. How to Handle GST Scrutiny

D. Section-wise Analysis of all High Court & AAR Rulings under GST, beneficial for Trade –

E. Discussion on Rights & Obligations of Taxpayers

 

IMPLEMENTATION OF NEW LABOUR CODES : 2021

This video discusses on The Implementation of new Labour Codes –

1. Possible Date of Implementation

2. What are the New Labour Codes

3. New Definition of Wages

4. Illustration on impact on “Cash in Hand” of employees & “CTC” for Employers

5. Implementation Module for New Labour Codes

Regards

Team Tax Connect

 

GST ITC : Will Recipients reverse ITC incase of Non-Compliance by Suppliers

This video discusses on –

1. No Automatic reversal of ITC as per Section 42 of The CGST Act

2. Press Release dated 4th May 2021

3. Madras High Court Judgement : DY Beathel Enterprises

4. Apex Court Judgement : Arise India Ltd.

5. P&H High Court Judgement : Gheru Lal Bal Chand

6. Madras High Court Judgement : Sri Vinayaga Enterprises

 

Implementation of Labour Code : 2021 : 2nd Handholding Video

This video discusses on :

1. Major Changes in Wage Code

2. Major Changes in Social Security Code

3. Major Changes in Occupation, Health & Working Conditions Code

4. Implementation Module For Labour Codes

 

VIL GST & TAX CONNECT’S MONTHLY INDIRECT TAXES COLLOQUIUM

This Webinar would cover A threadbare discussion on –

1. 6 Digit SAC Codes and 6 Digit HSNCodes : General Mistakes with examples

2. Burning Issue – Madras HC Judgement in D.Y.Beathel Case and Press Note of 2018 : No Automatic reversal of ITC due to mismatch between GSTR 3B & GSTR 2A

3. Burning Issue – Availability of ITC on Sales Promotion Items

4. GST April 2021 – New Notifications, Circulars & Important Case Laws

5. Customs April 2021 – New Notifications, Circulars & Important Case Laws

6. FTP April 2021 – New Notifications, Circulars & Important Case Laws

7. Replying to Service Tax SCNs on Mismatch between Income Tax Data & Service Tax Returns Please feel free to contact us for any assistance or information.

 

VEHICLE DETENTION UNDER GST : ISSUES & DISCIPLINES

This Video discusses the various issues under GST for detention of Vehicles for non-compliance with the GST Law. It focuses on the disciplines laid down by various courts in the matter like –

1. Non-Detention due to alleged Undervaluation

2. Non-Detention due to Invoice No. mismatch only

3. Penal provisions due to Expired E-Waybill, etc.

 

WAGE CODE 2019 : 3rd HAND HOLDING RELEASE

This video discusses on the critical issues under Wage Code 2019 and the actions which need to be taken by Industry for Implementation of Labour Codes and interalia includes the following –

1. Distinction between ’employees’ and ‘worker’

2. Appropriate Govt for Private Entities

3. Inspector Cum Facilitator Provisions, etc.

“MONEY CONTROL: 25TH MAY 2021: New income tax e-filing portal from June and how it would benefit income-tax payers”

Click here to View

“ It is expected that the filed ITRs would travel faster to the central processing centre and intimations would be received by taxpayers sooner and consequently refunds would be generated sooner. ”

“ The interactive question and answer system would enable even salaried taxpayers to file their tax returns themselves without much need for data entry. ”

Tax Connect

“NEWS 18 : EXTENSION OF FILING RETURN DOES NOT IMPACT PENAL INTEREST PROVISION U/S 234A IN CERTAIN CASES”

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“ In case the amount of tax payable in cash at the time of filing the ITR is more than Rs 1 lakh, then the penal Interest under Section 234A shall apply from the original due date of filing the ITR. For example, if the tax payable by an assessee is Rs 5 lakh, the advance tax paid is Rs 1 lakh and the TDS/TCS is Rs 2 lakh. Hence for this assessee the tax payable in cash at the time of filing the return is Rs 2 lakhs (which is greater than Rs 1 lakh). For this assessee the due date of filing ITR is July 31. The interest under the Section 234 will be chargeable at 1% from August 1 irrespective of extension of due date of filing income tax returns till September 30. This is a dampner of sorts in this extension circular ”

Tax Connect

“NEWS 18: CRITICAL ISSUES RELATING TO TDS U/S 206AB APPLICABLE FROM 1ST JULY’21”

Click here to view

The Income Tax Department has recently unveiled a new ITR e-filing portal for taxpayers. There will be a host of features available on the new website. The new income tax return e-filing portal may have a new facility to check whether the individual has filed earlier returns or not.

Under new section 206AB, for specified persons who have not filed ITRs for last two years, a higher TDS has to be deducted by the payer. It is expected that for for deductor to check whether the deductee has filed its last two ITRs or not, the new tax portal is going to have a new facility

In absence of such a facility, it may not be possible to implement the new Section 206AB. It is important to note that to check GSTR compliance the GST Portal already has this kind of feature. Now for ITR, the income tax portal is also expected to have this feature.

If a company pays a contractor A and it is liable to deduct 2% TDS on the payment to the contractor, it has to go and check on the portal whether A has filed its last 2 ITRs or not. If A has not filed last 2 ITRs and the total TDS deducted from A is more than Rs 50,000 then the company has to deduct 5% TDS instead

Tax Connect

 

INDIRECT TAX COLLOQUIUM: JUNE 2021

Date: 12th June 2021 (Time: 11 a.m. to 12:30 p.m.)

VIL-GST in association with Tax Connect is organizing, one and half hours Webinar for discussions on “Indirect Tax Colloquium” on the following topics-

1.All GST, Custom & FTP Developments till 10th June 2021

2.Product Linked Incentive Scheme- An Understanding

3.Critical Issue Regarding to Refund under Customs & GST

4.Burning Issues relating to GST- ITC

TAX CONNECT

NEWS 18: COMPLIANCE NORMS FOR SECTION 206AB

Click here

“It is important to note that to check GSTR compliance the GST portal already has this kind of feature. Now for ITR, the income tax portal is also expected to have this feature.”

“There was an apprehension among trade and industry incase this checking has to done multiple times in a financial year, but the same has been clarified that even if a vendor has not filed its return by the due date in AY 21-22 his compliance status for the tax deductor till 31st March 2022 will be compliant on the basis of the tax return filing of the previous two years,”

“Further in case a non-compliant person files his returns during FY 21-22, then it’s status changes to compliant and it is saved from the rigours of Sec 206AB,”

This feature will be made available only to Tax Deductors with a Valid TAN Number and not to all taxpayers.

“Possibly going forward this facility may be made available to all persons with a PAN No. This would act as a double check for the recipients to see whether the vendors are compliant or not and it may help them select a compliant vendor over a non compliant one.”

TEAM TAX CONNECT

BUSINESS STANDARD: RECTIFYING MISMATCH BETWEEN 26AS, FORM 16 CRUCIAL BEFORE FILING RETURNS

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COMPARE THE TWO FORMS
“Interest on loans given by you, on bank deposits, and on tax refund should also be matched with form 26AS.”

WEBINAR ON “MONTHLY END TO END UPDATES ON INDIRECT TAX” BY TAX CONNECT & CONSULT EASE_ 3RD JULY 2021

Dear Sir/Ma’am

TAX CONNECT in association with CONTSULT EASE is organizing, one and half hours Webinar on 3rd July from 11:00 a.m. to 12:30 p.m. for discussions on “Monthly end to end updates on indirect tax” on the following topics-

 

1.      PAN India Issues under GST on-

a)      Refund & Input Tax Credit  Sec 17(5)(h)

b)     Intermediaries & Actionable claims

c)       Other Critical Issues

2.      Preparing Industry for GST Department Audit- Walk Through

3.      Update on all notifications/ Circulars & Recent Updates in GST

4.      Updates on all notifications/ Circulars & Recent Updates in Customs & DGFT

 

Kindly Pre-Register on the Registration Link given below:

Registration Link: Click Here

 

Speaker:

Mr. Vivek Jalan

[FCA, LL.M (Constitutional Law), LL.B, CIDT(ICAI),B. Com (H)]

 

Regards,

TAX CONNECT ADVISORY SERVICES LLP

Bangalore: A-414,Carlton Towers,19th Main; Road Hal Old Airport Rd, Domlur, Bengaluru, Karnataka-560008

New Delhi: C73, 2nd Floor, Sector 50, Mayfield Garden, Gurgaon 122001

Kolkata:

–          1, Old Court House Corner, “Tobacco House” 1st Floor, R.No.-13 (North), Kolkata-700001

–          Room No 119; 1st Floor; Diamond Arcade; 1/72, Cal Jessore Road; Kolkata – 700055

Mumbai: A/1001, Cirrus Bldg, Cosmos Paradise; Pokhran Road No. 1, Thane (West), Maharashtra – 400606

Dubai: Azizi Feirouz, 803, 8th Floor, AL Furjan, Opposite Discovery Pavillion, Dubai, UAE

Contact: +91 8017741711; 9830661254

TAX CONNECT BULLETIN: (305th ISSUE) 

We are pleased to put forward the 305th Issue of “Tax Connect”.

We do hope that this initiative adds value to your professional sphere.

Further, we invite all the readers to submit articles on the recent developments in our tax regime and share their views. The articles will be published in our bulletin for the benefit of all the readers.

For submission of articles, please contact: Ms. Priyanka Chowdhury , Tel- 033-40016761, Email- priyanka.chowdhury@taxconnectdelhi.co.in

In case you have suggestions, we are available over email or on telephone.

TAX CONNECT

305th Issue_Tax Connect 

 

 Facing Blocked Credit Under GST vide Rule 86A & Notices for GSTR 2A & 3B Mismatch
This video discusses –
1. Challenge to notices for blocking GST-ITC by Taxpayers in High Courts
2. Facing the notices of Blocking of Credit
3. Notices for Reversal of ITC on account of mismatch between GSTR 2A & 3B
4. SOP issued by Kerela State Govt for Blocking of ITC
Team Tax Connect
Webinar on “MONTHLY DIRECT TAXES UPDATES 
 
MONTHLY DIRECT TAXES UPDATES 
Date: 10th July 2021 (Time: 11:00 a.m. to 12:30 p.m.) 
 
Tax Guru in association with Tax Connect is Organizing a 1 and Half Hour Workshop for discussions on 
Monthly Direct Taxes Updates on the following topics- 
 
1. Equalization Levy & TDS on Foreign Payments u/s 195 
2. Minimum Global Corporate Tax – G7 Tax – What the future beholds for MNCs 
3. Issues & Challenges in Tax Audit for AY 2021-22 
4. Issues & Challenges in Income Tax Returns for AY 2021-22 
5. Other Recent Issues in Direct Taxes 
  
The No. of participants would be limited to 500 and it will be on First Come-First Serve Basis. Participants 
are requested to please join at least 10 minutes before start. In case of any queries, you may connect to 
+91 99035 81757. 
 
Kindly Pre-Register on the Registration Link given hereunder- 
Registration Link: https://forms.gle/sVuiSREQ7x5LwDRS6 
 
Speakers: 
 
1.Vivek Jalan   FCA. LLM (Constitutional Law), LL.B, B.Com(H) 
2.Rishabh Jain  FCA, B.Com(H) 

TAX CONNECT AND VILGST organized “3rd COLLOQUIUM ON INDIRECT TAXES” on 17th JULY 2021 at 11AM – 12:30 PM

We wish to hold our “3rd COLLOQUIUM ON INDIRECT TAXES” on 17th JULY 2021 at 11AM – 12:30 PM on the following topics –

 

1. Critical Issues under GST on –

A. Block Credit U/s 17(5)(h)

B. Clocking of ITC u/s 86A and defenses against such action 

C. ITC which can be claimed as ‘Furtherance of Business’

D. Refunds under Customs & GST

e. Other Critical Issues in Indirect Taxes

 

2. Analysis of All Notifications and Circulars under GST, Customs & DGFT till 16th July 2021

 

3. Analysis of Critical Orders GST, Customs & DGFT till 16th July 2021

 

4. Other critical Recent Issues Indirect Taxes 

on the following topics –

 

TAX CONNECT BULLETIN: (307th ISSUE) 

We are pleased to put forward the 307th Issue of “Tax Connect”.

We do hope that this initiative adds value to your professional sphere.

Further, we invite all the readers to submit articles on the recent developments in our tax regime and share their views. The articles will be published in our bulletin for the benefit of all the readers.

For submission of articles, please contact: Ms. Priyanka Chowdhury , Tel- 033-40016761, Email- priyanka.chowdhury@taxconnectdelhi.co.in

In case you have suggestions, we are available over email or on telephone.

TAX CONNECT

307th Issue_Tax Connect

MONEY CONTROL : MADRAS HC JUDGEMENT ON GST on RWA MAINTENENCE CHARGES

Click here

It also held that in a case where legislature intended that the exemption shall apply only to cases where the amount charged does not exceed a specified pecuniary limit, It states as much that the exemption shall apply only where the gross amount charged for such service does not exceed a said amount in a financial year. Here, nothing as such is stated

The question now before the Associations is whether to follow the Judgement of the Madras High Court and stop charging GST or to keep charging GST on the entire amount if the charge per member per month is more than Rs 7500.

In this regard, it is to be noted that Madras High Court’s judgment will be binding on the taxpayers of the corresponding state. In case taxpayers in other states want a similar relief it is better to challenge the GST circular in their own jurisdictional high court.

Further, there is every chance that the government may file a petition before the Supreme Court challenging the high court’s order. Also, the law may see a retrospective amendment, which has already happened in a similar matter challenging the charge of taxes on the concept of mutuality.

Hence, until the  Supreme Court decides as such, we would advise the taxpayers to tread with caution.

Tax Connect

TAX CONNECT BULLETIN: (308th ISSUE) 

We are pleased to put forward the 308th Issue of “Tax Connect”.

We do hope that this initiative adds value to your professional sphere.

Further, we invite all the readers to submit articles on the recent developments in our tax regime and share their views. The articles will be published in our bulletin for the benefit of all the readers.

For submission of articles, please contact: Ms. Priyanka Chowdhury , Tel- 033-40016761, Email- priyanka.chowdhury@taxconnectdelhi.co.in

In case you have suggestions, we are available over email or on telephone.

TAX CONNECT

308th Issue_Tax Connect

TAX CONNECT BULLETIN: (309th ISSUE) 

We are pleased to put forward the 309th Issue of “Tax Connect”.

We do hope that this initiative adds value to your professional sphere.

Further, we invite all the readers to submit articles on the recent developments in our tax regime and share their views. The articles will be published in our bulletin for the benefit of all the readers.

For submission of articles, please contact: Ms. Priyanka Chowdhury , Tel- 033-40016761, Email- priyanka.chowdhury@taxconnectdelhi.co.in

In case you have suggestions, we are available over email or on telephone.

TAX CONNECT

309th Issue_Tax Connect

CONSULT EASE & TAX CONNECT Present’s IMPLEMENTATION OF NEW LABOUR CODES: WEBINAR SERIES

Join in a One and a half hours workshop

Date- 6th August 2021
Time- 5:00 p.m. to 6:30 p.m.

Topics

✅ Changes in the New Labour Codes vis-a-vis the earlier Labour Laws

✅ Analysis of wage Code, Social Security Code, Industrial Relations Codes & OSH Code

✅ Implementation Module of Labour Codes in Organisations

✅ Impact on Profitability of Organisations and CTC of Employees by the implementation of Labour Codes

✅ Discussion of Sample HR Documents to be implemented during Labour Code Implementation

Sign up today & we will see you in the workshop⬇️
Click here