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GST
Much Ado About Demo Vehicles: Ambiguity on ITC Clarified
The CBIC recently issued a Circular clarifying availability of ITC in respect of demo vehicles. The Circular, as I briefly mentioned elsewhere, seems like an exercise in law making rather than a mere interpretation of law. But I… Read More »Much Ado About Demo Vehicles: Ambiguity on ITC Clarified
Single Administrative Interface under GST: Identifying Two Rough Patches
GST is a dual nationwide tax implying that both the Union and States concurrently levy it on supply of goods or services. While a single indirect tax jointly administered by the Union and States is… Read More »Single Administrative Interface under GST: Identifying Two Rough Patches
Yin-Yang Nature of ITC and Supplier-Purchaser Obligations
In a recent decision, the Kerala High Court upheld constitutionality of Section 16, CGST, 2017, specifically Section 16(2)(c) which restricts the ITC of a purchasing dealer (‘purchaser’) if the supplier has not remitted tax collected from… Read More »Yin-Yang Nature of ITC and Supplier-Purchaser Obligations
Powers of Arrest under GST: Unravelling the Phrase ‘Committed an Offence’
CGST Act, 2017 provides the Commissioner power to arrest under specific circumstances. Section 69, CGST Act, 2017 states that: Where the Commissioner has reasons to believe that a person committed any offence specified in clause (a) or… Read More »Powers of Arrest under GST: Unravelling the Phrase ‘Committed an Offence’
Tax Treatment of Mandatory CSR: Alignment of CGST Act, 2017 and IT Act, 1961
In this article, I elaborate on one of the several changes introduced by Finance Act, 2023 to CGST Act, 2017. Section 17, CGST Act, 2017 was amended via Finance Act, 2023 to clarify that the… Read More »Tax Treatment of Mandatory CSR: Alignment of CGST Act, 2017 and IT Act, 1961
No Service Tax on Carried Interest: GST Applicability Remains an Open Question
In a recent decision the Karnataka High Court has held that a Venture Capital Fund (‘VCF’) is not liable for service tax on carried interest. The decision reversed Customs, Excise & Service Tax Appellate Tribunal’s (‘CESAT’) ruling which was… Read More »No Service Tax on Carried Interest: GST Applicability Remains an Open Question
Unfamiliar Terrain of Loyalty Points and GST
Levying GST on atypical forms of consideration is a familiar problem under GST regime. One such problem relates to the levy of GST on vouchers issued by a supplier. While we have a modicum of certainty on… Read More »Unfamiliar Terrain of Loyalty Points and GST
Can Cash be Seized During GST Inspections?
Section 67 of the CGST Act, 2017 deals with powers of inspection, search, and seizure of officers and Section 67(2) specifically empowers the officers carrying out an inspection to seize goods and documents. Courts have… Read More »Can Cash be Seized During GST Inspections?