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GSTN Advisory on issuing E-Invoices & IRN withing 30 Days of Invoice from 1st Nov 2023 : Issues and Points for implementation

 

This video Analyses:

1. How the GST System becomes more stringent as elements try gaming the system.

2. 12 documents on which IRN would be applicable.

3. Explanations with examples for Due dates of generation of Invoice & IRN

4. Discussions on Other business issues

PDF : Sep 23 – GST E-Invoice within 30 days from 1st Nov 2023

PDF : From 1st November 2023, 30 Days’ time for IRN – Issues and Pointers

Team Tax Connect

Sep’2023 GST Return Filing Change: Electronic Credit Reversal & Reclaim Statement (ECRRS)

This video analsyses –

1. What’s ECRRS

2. How to provide opening balances in Sep’23

3. Issues to keep in mind while revering & reclaiming ITC in GSTR-3B

PDF : Electronic Credit Reversal & Reclaimed Statement

Team Tax Connect

GST-ITC : Time barring period for claiming & Reclaiming – Impact of AP HC decision dtd 18.7.23

 

Webinar : “Impact Analysis of 51st GST Council’s Recommendations, ITC Optimization, Recent Amendments & Court Decisions” VILGST in association with Tax Connect is Organizing a One and Half Hour Workshop for discussions on “Impact Analysis of 51st GST Council’s Recommendations, ITC Optimization, Recent Amendments & Court Decisions” on the following topics :

1. Threadbare Analysis of impact of 51st GST Council Meetings Decisions & Interplay of GST & Income Tax on Gaming & Gambling.

2. Threadbare Analysis of “GST-ITC & Optimization of Multi-State Registered Entities vide – A. Analysis of Circular 199 of 2023 B. Analysis of Circular 193 of 2023 C. Analysis of Circular 197 of 2023 D. Andhra Pradesh High Court decision on Vires of Sec 16(4) vis-a-vis Rule 37A of CGST Rules

3. Credit Card – Interest on Loan or Charges – An analysis apropos Calcutta High Court’s Decision in the case of Ramesh Patodia.

4. Impact Analysis of Rate Notifications and Other Circulars issued under GST.

5. Other issues under GST

 

Team Tax Connect

GST-ITC : Time barring period for claiming & Reclaiming – Impact of AP HC decision dtd 18.7.23

 

This video analyses the following –

1. GST-ITC Taken after the Return period of 30th September / 30th November of the next year, whether valid?

2. GST-ITC Taken before the Return period of 30th September / 30th November of the next year and thereafter temporarily reversed – then reclaimed – whether valid? What is the impact of AP High Court Decision in the case of THIRUMALAKONDA PLYWOODS Vs THE ASSISTANT COMMISSIONER(2023-VIL-472-AP) dated 18th July 2023

PDF : July 23 – GST-ITC Time barring period for claiming & Reclaiming – Impact of AP High Court decision in THIRUMALAKONDA PLYWOODS Vs THE ASSISTANT COMMISSIONER(2023-VIL-472-AP)

Team Tax Connect

Impact Analysis: 50th GST Council Meeting Decisions , Indirect Tax Colloquium

 

18th Indirect Tax Colloquium – July 2023 50th GST Council Meeting Decisions: Impact Analysis VILGST in association with Tax Connect is Organizing a One and Half Hour Workshop for discussions on “50th GST Council Meeting: Impact Analysis” on the following topics:

1. Threadbare Analysis of GST Rate Changes

2. Analysis of GST ITC & GST Registrations Restrictions as proposed by The 50th GST Council Meeting (Scheduled for 11th July ‘23)

3. Geo-mapping of Registrations – Issues and Way ahead

4. 2-Way EWB Authentication

5. Analysis of GST Policy Decisions as proposed by The 50th GST Council Meeting

6. Analysis of Other Changes as proposed by The 50th GST Council

Meeting Date: Wednesday, 12th July 2023 Time: 09:30 AM to 11:00 AM

Speaker: CA Vivek Jalan

Team Tax Connect

GLIMPSES & IMPACT ANALYSIS OF 50TH GST COUNCIL MEETING

 

We are pleased to put forth Tax Connect’s Impact Analysis of the recommendations of The 50th GST Council Meeting held on 11th July 2023. Some of these including ISD Vs Cross Charge, Interest, Warranties, etc were long-standing demands of Trade & Industry

Team Tax Connect

GST Discounts – Supply of Services? Policy needed

 

This video Analyses

1. Difference between Discounts and Supply of Services under GST

2. Pre Sale, Post Sale & Channel Discounts under GST

3. ITC Impact on Discounts

4. Policy for Discounts needed

Team Tax Connect

Can GST-ITC of recipient be denied when Supplier’s Registration is cancelled retrospectively

 

This video analyses –

 

1. The Issue of retrospective cancellation

2. The Department’s allegation

3. The Court’s decisions

4. Favorable Case Laws

PDF : June 23 – GST-ITC on Supplier’s Reg. cancellation

Team Tax Connect

GST Notices and Orders cannot be against Rule of Law

This video discusses –

1. Order cannot travel beyond the SCN

2. Sec 75 mandates and RTPs should pray for Personal Hearing

3. Analyze the total impact of an Order..No relief for Interest if demand is admitted

4. SCN cannot be pre-judged. It cannot take the form of a crystallized demand

5. Speaking Order should be passed

6. No DIN – Put the SCN/Order in Waste Paper

7. Incase of a crystallized demand, contest for Section 73 vis-à-vis Section 74 – fraud, or any wilful-misstatement or suppression of facts to evade tax

8. Order should take into account each and every point raised

9. Pre-SCN should be issued in DRC-01A, SCN should be in DRC-01 and Order should be in DRC-07

10. No Arbitrage between S 73 or S 74

17th INDIRECT TAX COLLOQUIUM TAX CONNECT and VILGST 

This Video covers the following topics

1. Re-look at “warranties” supply under GST apropos Supreme Court judgement

2. GST on gaming/gambling/lottery/betting/horse-racing

3. Handling arbitrary/capricious SCNs/Orders

4. Preparation for CLEAN UP DRIVE AGAINST FAKE GST Registrations

5. FAKE GST INVOICES – Testing a “Null Hypothesis”

6. Test of Classification – Import of Parts of electronics.. not to be considered import of finished products?

7. No Interest if deposit of Tax made in Cash Ledger – Even if GSTR 3B Not filed

8. “Protective Collection” of GST from recipients if supplier defaults

9. Discussion on All GST Notifocations, Circulars, instructions, amendment in Rules

10. Discussion on All Customs & FTP Notifocations, Circulars, instructions, amendment in Rules and Regulations

11. Interplay of GST with Income Tax

PDF : 20th May 23 – 17th Coloquium

Team Tax Connect

GST CLEAN UP DRIVE – IMPACT OF STOCK TAKING MISMATCH ON GST AND INCOME TAX

1. Impact of clean up drive of Fake GST Registrations on Stock of Inventory

2. Mistakes to avoid in maintaining stock to not invite GST & Income Tax Demands

GST Fake Registrations Clean Up Drive May 2023: Issues & Safeguards

This video discusses –

1. Issues & Steps to be taken by Govt. for Fake GST Registration & ITC Clean up drive from 16th May 2023 to 15th July 2023 vide instruction no. 01/2023-gst dated 4th may 2023

2. Errors and Omissions by Taxpayers which need to be sanitized in the matter.

PDF : May 2023 – GST FAKE REGISTRATIONS CLEAN UP DRIVE MAY 2023 ISSUES & SAFEGUARDS

Team Tax Connect

 GST E-Invoice Mandatory before 7 days : Issues and Impact

This video discusses –

1. Intricacies of Mandate from 1st May 2023 of Issuance of E-Invoice within 7 days

2. Impact of Issuance of GST E-Invoice within 7 days

3. Changes in system which Industry needs to make

PDF : Apr 2023 – GST E-Invoice Mandatory before 7 days Issues and Impact

Team Tax Connect

31st Mar’23: GST to do FOR BOOKS CLOSURE

This video discusses:

The requirements under GST to be taken care of for year ending 31st 2023

1. Stock ready for despatch

2. Ex-works delivery before 31st March 2023

3. Communication to persons to whom CNs are issued

4. Invoice Series in the New Year

5. Dealing with Temporary Reversals

6. Reversing and intimating “unknown Reversals”

7. 26AS Vs GST Reconciliation

8. Two Way E-Waybill Reconcilaition

9. Rule 37A implementation

PDF : 31st Mar’23 GST to do FOR BOOKS CLOSURE

Team Tax Connect

24th Mar’23: GST AMENDMENTS IN FINANCE BILL 23 PASSED BY LOK SABHA

This video discusses :

Amendments in Finance Bill 2023 passed by The Lok Sabha-

1. RCM applicability to fully exempt suppliers

2. Revocation Cancellation – Change in System

3. Best Judgement Assessment for non-filers

4. POS for transportation of goods

5. GSTAT Formation and recovery proceedings pending formation

6. Others

PDF : 24th Mar’23 GST AMENDMENTS IN FINANCE BILL 23 PASSED BY LOK SABHA

Team Tax Connect

VILGST & TAX CONNECT: WEBINAR ON “16TH MONTHLY INDIRECT TAXES COLLOQUIUM”

MONTHLY COLLOQUIUM ON INDIRECT TAXES: March 2023

Details regarding the Webinar are as follows

???? 25th March 2023
????️ 11:00 a.m. to 12:30 p.m.
???? Virtual

VILGST in association with Tax Connect is organizing, one and half hours Webinar for discussions on “MONTHLY COLLOQUIUM ON INDIRECT TAXES” on the following topics-

GST, CUSTOMS, FTP -FORWARD ANALYSIS

???? 1. FINANCE ACT 2023 IDT CHANGES VIS-A-VIS FINANCE BILL – THREADBARE DISCUSSION

???? 2. Year End Activities under GST with special focus on Stock in Transit

???? 3. Rectification of GSTR-1 Allowed

???? 4. GSTR-3B Vs GSTR-2B/ GSTR 3B Vs GSTR-1 – Fresh Grounds of Debate

???? 5. Dealing with Interest u/s 50 – Various SCNs still being confirmed

???? 6. Treatment of warranties under GST – Will VAT Dispute go on or clarity in Central Excise prevail!

???? 7. Various SOD Schemes in various states – Last chance to clean up VAT/CST/ET Litigations

???? 8. Refund of Taxes Paid on day of investigation

???? 9. Availing Customs Exemption under N No 50/2017 and Other Notifications – DRI debates on classifications based on Rules of Interpretations

???? 10. Other issues under GST, Customs & DGFT

The No. of participants would be limited and it will be 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 +919903581757

Kindly Pre-Register on the Registration Link given below:

User Registration Link – https://forms.gle/rMkWMJk3cVvBNZJs6

Meeting link: https://taxconnect.webex.com/taxconnect/j.php?MTID=m73df0114ac1aa46062b142c813111d6f

Meeting number: 2533 491 3874

Password: Tcas@2023

Speaker:

Vivek Jalan – Partner, Tax Connect Advisory Services LLP.

PDF Link –25th Mar 23 – 16th Coloquium

Regards
Tax Connect

CSR -GST & Income Tax Impact & Interplay

This video discusses –

1. GST Impact of ITC blockage u/s Section 17(5)(fa) of CGST Act on CSR spends – prospective/retrospective, eligibility, etc

2. Allowability of CSR spends u/s 30-37 of Income Tax Act

3. Allowability of CSR spends as per Sec 80G of Income Tax Act

4. Impact of MCA Circular on CSR

5. Other Interplay in CSR Ecosystem

Link of the PPT – CSR – GST & Income Tax Impact and Interplay

Tax Connect

ITR AY 23-24 – ANALYSIS OF CHANGES

This video analyzes –

1. Changes in ITR 1-6 for AY 23-24 vis-a-vis earlier ITR

2. Analysis of Sch VDA

3. Analysis of changes in disclosures for PGBP

4. Other important changes in ITR 1-6

5. Video on changes in ITR 7 to follow

Tax Connect

PRELIMINARY ANALYSIS OF DIRECT & INDIRECT TAX PROPOSALS IN BUDGET 2023

This video analysis highlights of Union Budget 2023 as follows –

1. Deduction for Payments to MSMEs on payments basis incase made in violation of MSME Act

2. Relief u/s 54 & 54F capped at 10Cr

3. Relief on Insurance amounts received u/s 10(10D) capped

4. NO GST ITC on CSR Expenditure

5. 4 reliefs on Personal Tax for taxpayers under new regime

6. JCIT(A) Set up

7. 56(viib) amended to include NRIs too

8. 194R – TDS on “benefits” and 28(iv) income to include “cash benefits too”

9. Valuation of Inventories – Section 142 & 153 amended

10. Customs duties increases

Join our webinar Tomorrow at 9AM for detailed and clause by Clause Analysis

Tax Connect

10 BUDGET EXPECTATIONS : GST , CUSTOMS & CORP. TAX
This video is the 2nd in our series of 4 videos and discusses the Budget Expectations on account of GST, Customs & Corp. Tax Proposals including –
1. Place of Supply for “Outbound Freight/ Courier/ Mail” Charges
2. Offences under Section 132(1) of The CGST Act 2017
3. Legacy Dispute Settlement Scheme in Customs
4. GST Tribunals, RoDTEP Scheme
5. Import duties of ‘non-essential imports’
6. Tax Deduction Team Tax Connect
Team tax Connect

10 BUDGET EXPECTATIONS : PERSONAL TAX
This video is the 1st in our series of 4 videos and discusses the Budget Expectations on account of Personal Tax Proposals including –
1. How The high personal tax rate for individuals in India stands out as an exceptionally high rate as compared to other countries.
2. Expected Rationalization of tax rate for income of dividend earned by residents
3. Changes in Valuation of Company Owned Accommodation
4. Changes in Leave Travel Concession/Assistance
Team tax Connect

ITC Not Availed, but available in GSTR-2A/2B, can lead to SCNs under Income Tax & GST
This video discusses –
1. Fallacy of Transactions in GSTR-2A/2B unreconciled
2. Demand in GST & Income Tax due to ITC Not Availed
3. Matching GSTR-2A / 2B as per Circular 170 of 2022
Team tax Connect

15th Monthly Indirect Taxes Colloquium – January 2023
Date: 7th January 2023 (Time: 11:00 a.m. to 12:30 p.m.) VILGST in association with Tax Connect is Organizing a 1 and Half Hour Workshop for discussions on “15th monthly Indirect Taxes Colloquium – January 2023” on the following topics-
1. Change in GST-ITC Processes from 27th December 2022 w.r.t. –
A. Being very “sure” about GST-ITC Reversals to avoid Penalties
B. GSTR 3B non-filers
C. Mismatch between GSTR2A & GSTR 3B. –
2. GSTR 1 Vs GSTR 3B mismatch – Interplay of Rule 88C and Section 38(2)(b)
3. GST On Export Freight & Place of Supply – Understanding the amendment as per 48th GST Council Meeting
4. GST On Insurance Sector post recent amendments as per 48th GST Council Meeting
5. GST & IBC Interplay
6. Waybill disputes and resolution of Disputes
7. Other New Developments in Customs/GST/DGFT
Team tax Connect

GST Rate Changes from 1st January 2023 
This video discusses –
1. No GST on renting of residential accommodation by individuals who have proprietorship firms
2. No GST on Chilka/Churi/Chunni/Khanda – they are not “residues”
3. GST@28% on Carbonated Fruit Beverages and Carbonated Fruit Juices
4. Ethanol Supplies even to “Petrol Refineries” would be taxable @5%
5. Mentha Arvensis on reverse charge
6. “Pencil Sharpeners” not Taxable @12%
7. No GST on “Toll Charges” even though paid on Annuity
Team tax Connect

”GST Rule 37A : Relief to Recipients w.e.f. 26th December 2022
This video discusses –
1. No immediate reversal by recipients in case suppliers do not file their GSTR 3B
2. Reversal of ITC incase the suppliers do not file GSTR 3B till 30th Sept of next FY
3. Reclamation of ITC so reversed earlier incase suppliers thereafter file their GSTR 3B
4. Applicability of Rule incase of earlier ITC reversed
5. Applicability of Rule incase of suppliers GSTIN cancelled/ suspended
Team Tax Connect

Webinar on “14th Monthly Indirect Taxes Colloquium – December 2022”
 
14th Monthly Indirect Taxes Colloquium – December 2022 Date: 17th December 2022 (Time: 11:00 a.m. to 12:30 p.m.) VILGST in association with Tax Connect is Organizing a 1 and Half Hour Workshop for discussions on “14th monthly Indirect Taxes Colloquium – December 2022” on the following topics-
1. GSTR 9/9C for 2021-22 – Important and Critical Issues to Remember w.r.t. –
A. How to Avoid notices by filing correct GSTR 9 & 9C
B. Data Analytics between GSTR 1, 3B, 9 & 9C
C. Legal Issues to remember while filing GSTR 9 & 9C and GST Sanitization – FY 21-22
2. Discussion on Issues and way forward incase you have forgotten –
A. To make rectifications of invoices for FY 21-22 by 11th Nov’22
B. To upload CNs relating to invoices for FY 21-22 by 11th Nov’22
C. To take ITC of invoices for FY 21-22 by 20th Nov’22
3. Discussion on Revised GSTR 3B and way forward
4. Discussion on Burning Issues w.r.t. GST Litigation –
A. Is Pre-SCN Notice mandatory?
B. Rectification u/s 161 – Is it same as S 154 of The Income Tax Act?
C. Impact in Income Tax of admitting liability under GST Search
D. How to avoid GST Liability due to TDS u/s 194R in Income Tax
E. Dealing with Risky Exporters under GST apropos new Instruction issued
F. Issues in Job Work under GST G. Other Burning Issues under GST
5. Discussion on All recent Circulars/Notifications/Amendments/Important Case Laws under –
A. GST
B. Customs
C. DGFT
Team Tax Connect

DECISIONS OF THE 48TH GST COUNCIL MEETING ON 17TH DECEMBER 22: INDUSTRY IMPACT
 
– Relief for 2A-3B mismatch notices
– Relief to recipients post repayment of tax by errant suppliers
– No GST on Renting of houses by registered Proprietors
– Decriminalization of GST Law
– Relief for Third Country Export, High Seas and Bond Sale
– Relief for proportionate reversal for non-payment TP suppliers within 180 days
– Direct Refund to consumers for cancellation of construction, insurance contracts
– Process of redetermination of demand
– Stringent step for GSTR-1 Vs GSTR-3B Mismatch
Team Tax Connect

Avoiding Data Analytics Notices by Correctly Filing GST Annual Returns (9/9C) –
 
This is important Video to be watched before filing of GSTR 9/9C before 31st December 2022 so as to avoid notices on the basis of “Data Analytics” of GSTR 9/9C –
A. Data Analytics of ITC Claim over GSTR 2A
B.  Data Analytics of ITC Claim over ITC on Imports
C. Data Analytics of ITC Claim over GSTR 3B
D. Data Analytics of ITC Reversed over GSTR 3B
E. Disclosing the correct Tax Rate
Team Tax Connect

NOV’22 GST RETURNS FILING : CONFLICT OF GST LAW WITH GST PORTAL
This video discusses –
1. What happens incase you miss uploading a CN or rectifying an error or an invoice w.r.t. FY 21-22 in the GSTR-1 filed before 30th November 2022
2. What happens incase you miss taking ITC w.r.t. FY 21-22 in the GSTR-3B filed before 30th November 2022
3. Are Compliant Taxpayers treated unequally with Non-compliant Taxpayers to their disadvantage by not being allowed by The GST Portal the advantage provided by The GST Law
4. Other issues in the matter
Team Tax Connect

COMMON ITR FORM FOR ALL INCOME TAX FILERS : ANALYSIS PART 1 
This video discusses-
1. The intricacies of the proposed Common ITR Form
2. What are new additions and deletions
3. Points for caution for taxpayers
4. Ease in filing
Team Tax Connect

Entire GST-ITC Reversal for Part Non-Payment to Suppliers W.e.f. 1st Oct’22 – Issues and Way Forward
1. Would entire GST ITC be required to be reversed w.e.f. 1st Oct 2022 even if part non payment is made to suppliers in 180 Days?
2. Impact of amendment of Rule 37 of CGST Rules
3. Rate of Interest to be charged for reversal of ITC for non payment
4. Way Forward for Trade & Industry
5. What is “failure of payment”.. What is not
Team Tax Connect

GST Relaxations & Restrictions Notified on 28th Sep’22 w.e.f. 1st Oct’ 22
This video discusses effect of NNo 18/2022 dated 28th Sept 2022 as follows
1. Relaxations under GST w.e.f. 1st Oct 22 
A. taking ITC for FY 21-22
B. Passing Credit Notes for invoices of FY 21-22
C. Making changes in errors in invoices and TCS for FY 21-22
2. Stringent Conditions for ITC from 1st Oct 22
Team Tax Connect

 “MONTHLY COLLOQUIUM ON INDIRECT TAXES”
VILGST in association with Tax Connect is organizing, one and half hours Webinar for discussions on “MONTHLY COLLOQUIUM ON INDIRECT TAXES” on the following topics-
? Last Date of Availing ITC and issuing Credit Notes for FY 2021-22 – Issues and Way ahead
? How to Handle Clause 44 of Tax Audit
? Claiming TRAN 1 Credit from 1st October 2022
? 194R and interplay with GST Credit Notes – Way ahead
? Issues in GST-ITC and GST Refunds
? Recent Circulars, Notifications & Case Laws in GST, Customs & DGFT
? Q&A
Team Tax Connect

TDS u/s 194R : Analysis of New Clarifications dated 13th Sept. 2022
This video discusses –
1. Impact of 194R on Discounts and Impact in GST – Clarifications
2. New Clarifications w.r.t. impact of 194R on reimbursements
3. New Clarifications w.r.t. impact of 194R on dealer conferences
4. New Clarifications w.r.t. impact of 194R on Capital Assets transferred as a benefit
5. New Clarifications w.r.t. 194R on Loan Waivers
6. Other Clarifications and Issues w.r.t. TDS u/s 194R
Team Tax Connect

LAST OPPORTUNITY TO CLAIM GST-TRAN CREDIT
This video explains The procedures, issues, limitations and safeguards for claiming GST-TRAN Credit laid down vide Circular 180/12/2022 dted 9th Sep 2022 –
1. How to claim missed out TRAN Credit
2. Claim the ITC in Oct’22-Nov’22
3. Limitation on Credit relating to C/F/H Forms
4. TRAN Credit in matters pending in adjudication/appeals/High Courts
5. “Remediless” dispensation again
6. Other issues and precautions
Team Tax Connect

PROSECUTION UNDER GST: ANALYSIS OF INST 04/22-23 DT 1ST SEPT 2022
This video discusses –
1. Can prosecution under GST be initiated at adjudication/ appeal-pending level
2. Analysis of OFFENSES under Sec 132 of CGST Act with examples
3. What “evidences” should be relied upon for initiating prosecution
4. Can prosecution be launched against ANY EMPLOYEE of an Organisation?
5. Safeguards to be taken w.r.t. prosecution proceedings
Team Tax Connect

GST SUMMONS GUIDELINES DATED 17TH AUG 2022

This video discusses – 1. 3 Hardships faced by Trade due to GST-Summons

2. Process to Summon CMD/MD/CEO/CFO and top officials of the Company under GST

3. Notices/Letters to be issued by officers instead of summons

4. No Summon for returns, etc already uploaded on the GST Portal

5. 11 Important Guidelines relating to GST-Summons vide Instruction 03/2022-23 GST (Inv) dated 17th Aug. 2022

Team Tax Connect

12th Indirect Taxes Colloquium – August 2022

Topics –

1. Threadbare Discussion on Fake Invoices – Types as per Circular 170, Other Types, Preventions and safeguards

2. Liquidated Damages and Penalties under GST

3. Sector-wise discussion on GST Rate Revisions

4. DIN Not quoted on Documents – Implications and way ahead

5. Threadbare discussions of All Recent notification, Circulars, Case Laws, etc under GST

6. Discussion on all recent notifications, Circulars, Case Laws, etc under Customs & DGFT

7. Other recent issues an

Team Tax Connect

FACELESS ASSESSMENT: FRESH SOP ISSUED TO ADDRESS TAXPAYERS’ CONFLICTS
This video discusses –
1. The various conflicts in faceless Assessments in Income Tax addressed by The SOP by NFAC
2. Procedure for Initial Questionnaire under Faceless Assessments
3. Procedure for Adjournments and Personal Hearing
4. Procedure of issuing SCNs and reminders to assesses
5. Procedure of Physical Verification of Third Persons
6. Demonstration of Application of MInd in Assessment Orders under Faceless Assessments
7. Other issues addressed in the SOP
Team Tax Connect

NO GST ON LIQUIDATED DAMAGES, NOTICE PERIOD PAY, MCA FEES, ETC : IMPACT OF CIRCULAR 178/10/2022
This video explains as per Circular 178/10/2022 dated 3rd August 2022 –
1. Whether any GST is leviable on MCA Fees for increasing Share Capital
2. Whether any GST is leviable on Liquidated Damages and process of accounting for the transaction
3. Whether any GST is leviable on notice period pay of employees
4. Whether any GST is leviable on cheque cancellation charges
5. GST on retention/no show charges or delayed payment charges
Team Tax Connect

GST E-Invoices Rule Change – Impact on Suppliers & Buyers
This video discusses –
1. Changes to E-Invoicing Rules from 1st October 2022
2. Impact & Advise for Buyers of incase supplier is not E-Invoicing Compliant.
3. How do buyers check whether supplier is E-Invoicing Compliant or not
4. E-Invoicing – applicable and not-applicable on which transactions
5. Other Issues
Team Tax Connect

 

INTERPLAY OF GST & TDS U/S 194R ON REIMBURSEMENT OF EXPENSES
This video discusses –
1. Example of Reimbursement transactions in Business
2. Whether goods/services for which reimbursement is claimed is a supply and to be included in “Value of Supply” under GST
3. Applicability of “Pure Agency” concept u/r 33 of CGST Rules incase of reimbursement of goods/services
4. Applicability of TDS u/s 194R incase of Reimbursement of Expenses
5. Interplay of GST & IT-TDS on reimbursement of expenses
Team Tax Connect

 

GST TRAN CREDIT ALLOWED TO BE CLAIMED AGAIN: DISCUSSION ON SC’s DECISION
This video discusses –
1. Discussion on the History of Litigation in GST Transitional Credit Matters
2. Decision of Apex Court in Filco Trade Centre Pvt Ltd Vs UOI
3. Availment of GST Transitional Credit from 1st Sept’22 – 30th Oct 22
4. Availment of TRAN Credit by whom?
5. Flow of TRAN CRedit so availed to ITC Ledger
6. Other issues in the matters
Team Tax Connect

 

GST CHANGES IN REVERSE CHARGE APPLICABLE FROM 18TH JULY 2022 
This video explains –
1. Reverse charge on Rent of Residential Flats – applicable on all Taxpayers
2. Reverse Charge on Transportation Services
3. View on option which Transporters may be required to choose for benefit of customers
Team Tax Connect

 

GST REFUNDS FROM JULY 2022: IMPORTANT AMENDMENTS
This video explains –
1. Relaxations in “Time Limit” for filing GST Refunds
2. Increased refunds incase of Inverted duty structure
3. Re-credit of ITC – Machinery now available
4. GST Refunds for Risky Exporters also
5. GST Refunds for Outlets in immigration area- change in procedure
6. GST Refunds on inverted duty structure for suppliers under confessional rate scheme
7. Deemed exports refunds claimed by recipients
Team Tax Connect

 

GST LIABILITY FOR ‘FAKE INVOICES” and “DEFAULT OF SUPPLIERS” : CIRCULAR 171
This video discusses on the following –
1. What are “Fake Invoices” and GST liability of supplier and recipient
2. Liability of the “Ultimate Beneficiary” of ITC
3. Liability of bonafide recipients for non-compliance by suppliers
4. Liability of bonafide recipients for ‘ab initio GST Registration cancellation” of suppliers
Team Tax Connect

 

CHANGES IN FILING GSTR 3B FOR JULY 2022 : CIRCULAR 170
This video discusses on the following changes in filing GSTR 3B for July 2022 and onwards –
1.  Tracking, Taking and Reversing “Ineligible ITC”
2.  Tracking/Taking/disclosing/Reversing “Time Barred ITC”, “ITC on Non-payment to suppliers”‘ etc
3. Disclosure of Supplies to unregistered/composition dealers
4. Correct tracking and disclosure of PLace of Supply
Team Tax Connect

IMPORTANT AMENDMENTS IN GST RULES W.E.F. 5TH JULY 2022
This video discusses –
1. Changes in GSTR 3B from July 2022
2. Changes in GST Invoicing w.e.f. 5th July 2022
3. ITC Ineligible when supplier does not issue E-Invoice
4. Interest under GST – Calculation and Applicability
5. No reversal of ITC for sale of Duty Scrips
6. Changes in GST Exports –
A. Grant of refunds to “Risky Exporters”
B. No GST Refunds in case mismatch between Shipping Bill and GSTR 1
C. GST Refunds only on on FOB Value of Exports
D. Re-Credit Machinery in place vide Form PMT-3A
Team Tax Connect

VIL GST & TAX CONNECT’S WEBINAR ON ANALYSIS OF GST COUNCIL’S DECISION
ANALYSIS OF GST COUNCIL’S DECISION
Date: 30th June 2022 (Time: 2:15 p.m. to 3:15 p.m.)
VILGST in association with Tax Connect is Organizing an one Hour Workshop for discussions on “ANALYSIS OF GST COUNCIL’S DECISION” on the following topics-
1. Threadbare Analysis of GST Council’s Decision
2. GST Council’s Decisions Impact on Trade & Industry
3. GST Council’s Decisions Industry Wise GST Impact
4. Q&A Session
Team Tax Connect

ANALYSIS OF 47TH GST COUNCIL’S DECISIONS
This video explains –
1. The Basis of 47th GST Councils decision’s.
2. The Effective Date of Implementation of the decision’s.
3. Various classifications
4. Important Rate Rationalizations .
Further for more detailed analysis you can join our Webinar on 30-06-2022 at 2:15 PM IST.
Register Here – https://forms.gle/fneUna3VY6Rq7knv5
Team Tax Connect

TDS u/s 194S on CRYPTO/VDA : ISSUES & CLARIFICATIONS
This video discusses –
1. What is a VDA & what are provisions of TDS on transfer of VDA
2. Whether Crypto/VDA is “goods or Service”
3. TDS on GST/Service Charges on VDA
4. TDS on VDA transactions through exchanges
5. TDS on Exchange of “One VDA for Another VDA”
6. Other Issues and Clarifications
Team Tax Connect

TDS U/S 194R from 1st JULY 2022 : IMPACT, ISSUES & CHALLENGES
This video explains –
1. Provisions u/s 194R
2. Impact on recipients u/s 28(iv)
3. TDS u/s 194R & GST on Reimbursements
4. TDS u/s 194R on dealer conferences and foreign trips
5. Decision in Case of David Dhawan & Mahindra & Mahindra w.r.t. 194R
6. Business Promotion Expenditure
Team Tax Connect

GST ITC REVERSAL ON SCRAP U/S 17(5)(h)
This video discusses –
1. Understanding of terms used in Section 17(5)(h)
2. Difference between goods ‘destroyed‘ and ‘damaged‘
3. Difference between ‘Abnormal Loss‘ and ‘Normal Loss‘
4. Requirement of Reversal of ITC on Scrap
5. Analysis of Hon’ble Madras HC Decision in the case of ARS Steel


Team Tax Connect

VILGST & TAX CONNECT: WEBINAR ON MONTHLY COLLOQUIUM ON INDIRECT TAXES”
MONTHLY COLLOQUIUM ON INDIRECT TAXES: May 2022
Details regarding the Webinar are as follows
? 21st May 2022
?️ 11 a.m. to 12:30 p.m.
? Virtual
VILGST in association with Tax Connect is organizing, one and half hours Webinar for discussions on “MONTHLY COLLOQUIUM ON INDIRECT TAXES” on the following topics-
? Threadbare Analysis of The Apex Courts decision on GST on Ocean Freight in the matter of Mohit Minerals
? GST on Seconded Employee – Detailed Analysis of Supreme Court Verdict in Service Tax Matter on 19th May 2022
? GSTR – 2B – Issues in May 2022 and Way ahead!
? Analysis of GST Scrutiny Manual – Haryana
? Inclusion/ Non-Inclusion of Royalty in Value of Imports under Customs
? SOP on Attachment under GST
? RoDTEP Scheme: Analysis of Appendix 4R
? GST & Income Tax TDS on Reimbursements as Pure Agents
? Customs: Refund of Duty Paid twice
? Telangana One Time Settlement Scheme
? Analysis of Other Notifications/ Circulars/ Case Laws in GST
? Analysis of Other Notifications/ Circulars/ Case Laws in Customs and DGFT
Speakers:
1. Vivek Jalan – Partner, Tax Connect Advisory Services LLP.
2. Rohit Sharma – Senior Manager, Tax Connect Advisory Services LLP.
Team Tax Connect

9TH COLLOQUIUM ON INDIRECT TAXES

 

1. Handling Departmental GST-Scrutiny by Trade – An indepth analysis of SOP on Scrutinies

2. Handling Departmental GST Audit by Trade – An indepth analysis
3. GST ITC – What to take and what not to… Defense against Ab Initio GST Cancellation of suppliers
4. Relaxations in DGFT & Customs Norms
5. Important Case Laws impacting Trade & Industry
6. Analysis of all notifications/circulars and amendments in GST/DGFT & Customs
7. Other matters and developments during the month gone by

Speakers –

1. Vivek Jalan [FCA, LL.M(Constitutional Law), LL.B, B.Com(H)]

Team Tax Connect

MONTHLY UPDATES ON DIRECT TAXES

 

1. In depth Analysis on changes in the new ITRs for AY 2022-23

2. In depth Analysis on changes in the new Finance Act 2022 applicable w.e.f 1st April 2022

3. Income Tax & GST on Virtual Digital Assets – An Analysis

4. Replying to notices under Section 148A including in dept Analysis of handling litigation u/s 148, etc

5. Faceless Assessment Scheme under Scrutiny Assessment – Analysis

Speakers –

1. Vivek Jalan [FCA, LL.M(Constitutional Law), LL.B, B.Com(H)]

2. Rishabh Jain [FCA, B.Com(H)]

Team Tax Connect

 

INDIRECT TAX COLLOQUIUM: 12TH MARCH 2022” BY VIL-GST & TAX CONNECT: 8TH WEBINAR 

VIL-GST in association with TAX CONNECT is Organizing one and Half Hours Webinar for discussions on “VIL-TC IDT Colloquium” on 12th March 2022 (Saturday) from 11:00 A.M. to 12:30 P.M. on the following topics: –

1. “Year-End To Do Activities” in GST/Customs & DGFT Matter for FY 2021-22.

2. “Kal ki Or” – Preparing for Notification of Budget Proposals under GST and Customs.

3. Defence against Irregular application of Rule 86A – abdication of authority

4. Handling Summons The new normal “Adjudication” under GST

5. GST on electricity charges, deposits & damages

6. Handling Frivolous Litigations on GST-E-Waybill – in Light of Supreme Court Judgements

7. RoDTEP – Process, Streamlining and Sale of Scrips

8. Labour Cess and Supply Contracts

9. Interplay of GST and IBC Proceedings in Light of Court Verdicts

10. Discussion of Other New Notifications/Circulars under GST, Customs & DGFT

11. Discussion of Other Recent Case Laws & Rulings under GST, Customs & DGFT

Team Tax Connect

 

HANDLING STRINGENT GST-ITC RESTRICTIONS –

This video deals with suggestions on how to deal with stringent ITC restrictions as follows –

1. Error in GSTR 3B incase of ‘Reverse Charge ITC’ and ‘Import ITC’

2. 3 Way Reconciliation as per GSTR 2B

3. Ab-Initio Cancellation of GSTIN of the Supplier

4. GST-ITC restrictions proposed in Budget 2022

Team Tax Connect

 

GST-ITC on CSR Expenditure –

This video explains on the allowability of GST-ITC on CSR Expenditure –

1. Difference between ‘Normal Course of Business‘ and ‘Furtherance of Business‘ 

2. Whether CSR distribution can be considered ‘gift’?

3. What does the Companies Law provide on CSR Expenditure

4. What does the Income Tax Law provide on CSR Expenditure

5. What does the GST Law provide on CSR Expenditure

6. Arguments for/against allowability of ITC on CSR Expenditure

Team Tax Connect

 

IT & GST on Business Promotion Expenditure: TDS u/s 194R & Its Impact on Large & Small Businesses

In this video the following are discussed –
1. Analysis of TDS on Business Promotion Expenditure u/s 194R
2. Issues and Challenges of Implementation of the TDS
3. Issues and Challenges for the deductee
4. Illustrations on Sec194R for the payer/deductor and Sec 28(iv) for the recipient/deductee
5. GST-ITC on Business promotion expenditure
Team Tax Connect

 

UNION BUDGET 2022 ANALYSIS by TAX CONNECT AND VILGST S

This video explains –
Recent changes on Direct  Tax in Union Budget 2022
Recent changes on GST in Union Budget 2022
Recent changes on Customs and DGFT in Union Budget 2022
Economic Analysis of Union Budget 2022
Industry Concerns which the Union Budget did not address
Team Tax Connect

 

JAN’22 GST RETURNS: LEGAL CHANGES AND PRECAUTIONS

This video explains –
1. Claiming ITC from Jan’2022 subject to GSTR2A
2. Implications of the amendment for taxpayers
3.  Recovery from 1st Jan’22 for difference between GSTR-1 and GSTR-3B
4. Reversal of Bharti Airtel Judgment from 1st Jan’2022 for Claiming ITC as per Books
Team Tax Connect

 

DEC’2021 – FILING GSTR 9/9C: CRITICAL ISSUES FOR PREPARING FOR SCRUTINY

This video discusses on the reconciliation which taxpayers need to do and precautions needed while filing GSTR 9 and GSTR 9C relating to FY 2020-21 on 31st Dec‘2021 including –

1. Outward supplies – Figures reported in Table 4N, 10, 16B & 16C

2. Inward Supplies – Table 8D, 8I, reversals, etc

3. Total Tax paid vide Table 9 of GSTR 9

4. Any attachments which may be made with GSTR 9C 

Team TAX CONNECT

 

VIL-GST in association with TAX CONNECT is Organizing a 1 and Half Hours Workshop for discussions on “Indirect Tax Colloquium” on 18TH December 2021 (Saturday) from 11:00 a.m. to 12:30 p.m. on the following topics-

1. Critical Issues for filing GSTR 9 & GSTR 9C for FY 2020-21

2. Availment of ITC on the basis of Books of Accounts – A Positive from Apex Court’s decision in the case of Bharti Airtel!

3. GST on Ocean Freight – Update on Hearing in The Hon’ble Supreme Court

4. GSTR 1 Changes and changes in GST Portal

5. Duties and Obligations of Revenue Authorities during Summons, Investigations and resultant Notices in light of Court Judgements

6. Issues in Availment of Input Tax Credit on Canteen Supplies, Outdoor Catering, etc

7. Issues in Customs & DGFT – Notifications/ Circulars and Important Case Laws

8. Issues in GST – Notifications/ Circulars and Important Case Laws

Team TAX CONNECT

MOST LITIGATIVE ISSUES ON ITC

This video discuss about the following topics

1. Sales Promotion item is taxable supply at Value u/r 27

2. ITC on Sales Promotional Items

3. Critical Provisions for Denial of ITC/Payment of Tax

4. Critical Provisions for allowance of ITC/Non-Payment of Tax

5. Other Such Transactions

Team TAX CONNECT

6th Webinar: “INDIRECT TAX COLLOQUIUM: October 2021”

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.GSTR 2B – Analysis of Time barring period of taking ITC – Advisory and Amendments to GST Rules
2.GST On Mining – An Analysis of Matter before The Hon’ble Apex Court 3.Pre deposit under GST by Utilizing ITC – Discussion on Orrissa High Court Order in Jyoti Construction Case
4.Interest under GST on Unutilized ITC – Way ahead on SCNs and Appeals 5.Industry – wise Analysis of 45th GST Councils Decisions – Notifications, Circulars, etc –
a. Engineering & Automobiles
b. Renewable & Other Energy
c. Textiles & Leather
d. Food, Beverages & Alcohol
e. Metals f. Electronics
g. E-Commerce & Other Services
h. Construction & Works Contracts
i. Transportation, Rail & Packaging/Printing
j. Exports
k. Others
6.RoDTEP Scheme for Exporters – Threadbare Analysis of Procedures for remission
7.Limitation period under GST and Supreme Court’s Order
8.Amendments under DGFT & Customs
Team TAX CONNECT

Exporters To Do in Nov’21 & Dec’21 : RoDTEP/Agri-TMA & Foreign Trade Policy This video discusses –
1. Procedural Aspects of RoDTEP Scheme
2. To Do List for Exporters for RoDTEP – Nov’21 & Dec’21
3. To Do List for Exporters for Agriculture TMA Scheme – Nov’21 & Dec’21
4. To Do List for Exporters for MEIS & SEIS – Nov’21 & Dec’21
5. To Do List for Exporters for Advance Authorization & EPCG – Nov’21 & Dec’21
Team TAX CONNECT

ICE-CREAM SERVED BY ICE CREAM PARLOURS IS A SUPPLY OF SERVICE/GOODS
This video deals with an analysis of Circular No 164 issued by CBIC clarifying that supply of ice cream by ice cream parlors is a supply of goods taxable at 18% and not a supply of food as a part of Service.
Team TAX CONNECT

5th Indirect Tax Colloquium VILGST and TAX CONNECT

This Video discuss about the following topic .
1. Industry Wise Analysis of the GST Councils Decision on 17th Sept 2021
2. Threadbare Analysis of Supreme Court’s Judgement in VKC Footsteps Case including the following –
A. Arithmetic Representation of Changes in Formula Directed by Supreme Court
B. Analysis of GST Refunds in Inverted Duty Scenario
C. Issues in case of ITC on Input Services and Capital Goods
D. Other Issues
3. Analysis of Recent Case Laws under GST/Customs/FTP and other Indirect Taxes
4. Analysis of Recent Circular, Notifications and changes under GST/Customs/FTP and other Indirect Taxes
5. Other related Issues and Developments in Last Month
6. Questions & Answers
Team TAX CONNECT

 

Tax Connect in association with VIL-GST is Organizing a 1 and Half Hours Workshop for discussions on “Indirect Tax Colloquium” on 21ST AUGUST 2021 (Saturday) from 11:00 a.m. to 12:30 noon on the following topics-
1. Discussion on Sec 17(5)(h) on Blocked Credits
2. Issues in GST And Customs Refunds
3. Complete discussion on all Recent Notifications, Circulars, Orders etc under GST/Customs/DGFT
4. GST Portal: Recent Developments
5. Recent Supreme Court & High Court Rulings under GST/Customs/DGFT
6. Recent Important AAR/AAAR Rulings under GST/Customs/DGFT
Team 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

 

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.

 

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.

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.

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

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 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

How to Handle GST Refunds & PAN India GST Litigation

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

How to Handle GST Refunds & PAN India GST Litigation

Topic to be Covered are –

a. GST Refunds: Issues & Solutions & Thread Bare Analysis

b. Legal Provisions of GST Litigation

A. GST Refunds Issues & Solutions:

1.Export Refunds – On payment & LUT

2.Inverted Duty Refunds

3.TCS & Other Refunds

4.GST Refunds & Duty Drawback

5.Favourable Judgements on GST Refunds 6.GST Refunds & Customs Provision

B. Discussion on Legal Provisions of GST Litigation

GST Refunds : Recent Amendments & Circulars : A Threadbare Analysis on How Trade & Industry should Take Benefit

There have been many amendments and clarifications in GST Refunds recently. Most recent being vide Circular 147/03/2021 dated 12th March 2021. This video does a threadbare Analysis on how Trade & Industry should prepare and take benefit of such amendments and clarifications as follows –

1. Rule 89(4)(C) of CGST Rules

2. Circular 147/03/2021 dated 12th March 2021

3. Customs Circulars 4/2021 and 5/2021 – both issued in February 2021

4. Amendment in Section 16 of The IGST Act 2017

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

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