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Highlights of 37th GST Council Meeting dated 20th September 2019
Published At: 21-Sep-2019
The GST Council, headed by **Union Finance Minister Nirmala Sitharaman** and comprising representatives of all States and Union Territories (UTs), had its 37th meeting in Goa on 20th September 2019
IT Enabling Professional Practices
Published At: 27-Aug-2019
The small and medium professional firms, though growing, are facing the cut-throat competition.  It is very important to have an edge over others.  With the volumes growing dual fold – both in terms of volume at each client and the total number of clients, there is an increase in the number of personnel in each firm, thus the ratio of partner to employee increases.  Further, with the advent of ‘e’ happening all along the compliances, it becomes mandatory that technological aspects are understood and adopted.   Information Technology (IT) can be an enabler to all these.  IT can help in increasing the Efficiency, there by one can manage volumes, manage increased personnel, have control on compliances of the clients.  IT can help for the firms to increase their Visibility across, which will help the firm to have an edge over others and face the competition.  IT can help in creating new Opportunities, thereby getting more revenue and better client satisfaction.
Impact of Changes in GST Law on the Real Estate Sector
Published At: 19-Aug-2019
The Construction Industry plays a very important role in the infrastructure development of our country. The nature of work carried out by the construction industry involves the transfer of property in goods as well as providing service. The taxability of transactions carried out by the construction industry has always been debatable and prone to litigation. The issues get aggravated wherein apart from movable goods and services, transfer of immovable property or land is also involved in such transactions. During the implementation phase of GST, various issues have surfaced in taxability of transactions carried out by the Real Estate sector. The tax professionals and the business community at large need to understand the complex provisions of law along with the impact thereof on the costing as well as the transaction values. This publication has been updated with the two FAQs issued by the GST council apart from the details about the relevant notification.

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GSTR-4 Yearly Return for Composition Taxpayers
Author: CA Pratik Mehta
Published At: 15-Sep-2020
All the assesses covered under the composition scheme can now file the annual GST (Goods and Services Tax) returns under GSTR 4 due date, for the financial year 2019-20, by 31st August 2020. The date has been extended by the Central Board of Indirect Taxes and Customs (CBIC) from 15th July 2020 to 31st August.
MCA Notification of PAS-6_Mandatory for Unlisted Public Companies
Author: CS Amita Alke
Published At: 23-Jul-2020
Every Unlisted Public Company shall issue its securities in dematerialized form and facilitate dematerialization of all its existing securities as well.
GST Implications In Case of Sharing of Revenue and Profit
Problem
GST Liability for receipt of income from the Players using Sports Turf facilities and GST implications at the time of sharing of such income to an Individual who has rented and maintained the Sports Turf.
Solution
Subject to facts and documentation, GST will be liable on income received from players. Further, sharing of such income will also be taxable and accordingly, a person receiving the same will be liable to pay GST. Service by Mr X to the Indian Company and Service by the Indian Company to the Players are two independent supplies.

Author: CA Jill Shah
Published At: 24-Jul-2020
GST Implications in Case of Amalgamation
Problem
Procedure for GST registration and transfer of unutilised Input Tax Credit in case of Amalgamation
Solution
Subject to facts and documentation, GST registration to be amended and for transfer of Input tax credit, procedure as per Section 18(3) of CGST Act read with Rule 41 of CGST Rules to be followed.

Author: CA Jill Shah
Published At: 14-Jul-2020

31-Oct-2020

Monthly GST Study Circle on Recent Changes and Updates in GST on 31st October 2020 by CA Pratik Mehta

Monthly GST Study Circle on Recent GST Updates

16-Oct-2020

Work From Home Session on Self Cleanup and Tune up of Computers and Laptops

Work from home is not allowing the team members to do any physical maintenance of their devices. Complaints about Laptop are creating a roadblock in operations mainly compliance delays. Hardware representatives are not able to physically visit the places for maintenance.

GST Refund In Case of Export of Goods and Service
It is said that goods and services can be exported from a country but the taxes should not be. Under the GST law exporters have the benefit of claiming refund of taxes paid on export of goods or services or claiming refund of the input tax credit in cases where the goods or services are exported under Letter of Undertaking(LUT). However the various provisions of law and issues related thereto should be considered before filing the refund claims.
Analysis of Non-taxable Supply, Non-GST Supply, Exempted Supply, Nil-Rated Supply and Zero-Rated Supply under GST
Nil Rated, Zero Rated, Non-Taxable and Exempted Supply

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