The doctrine of “Lex non Cogit Ad impossibilia” is an age-old maxim used globally as a measure of defense in various legal matters. In our Country also various judicial forum has appreciated this maxim from time to time and provided relief. Of late, this concept has been used extensively in the taxation matters as well. …
by CA Manoj Nahata 
Recently, there are some advance rulings issued under GST whereby an opinion was formed that Interest income of pure personal nature is ‘supply’ under GST. The AAR Gujrat in case of Shree Sawai Manoharlal Rathi [Advance Ruling No. GUJ/GAAR/R/2020/10, Dated: 19th May, 2020] has held that Interest received from PPF, Interest received from Personal loans …
by CA Manoj Nahata 
GST was said to be the biggest game changer for the Indian Economy. After implementation of this law, we have seen many ups and down in the Economy which inter-alia include changes in GST as well. The present economic position of the Country is on doldrums. The same is quite apparent and the Hon’ble FM …
by CA Manoj Nahata 
The next GST Council meeting is scheduled to be held on 12.06.2020 through video conferencing mode. This is the first meeting post COVID-19 lockdown in the Country. Though Govt. has tried to give various reliefs in the month of April & May’2020 through Ordinance, Notifications & Circulars but the same seems to be meager in …
by CA Manoj Nahata 
1. Whether second hand gold jewellery purchased from unregistered person can be valued as per marginal scheme under GST? Held: Yes In the case of M/s Attica Gold Pvt Ltd.-AAR Karnataka, the applicant is in the business of sale of used (second hand) goods. He purchased used gold jewellery from unregistered persons and sells them …
by CA Manoj Nahata 
In my last write up – Joint Development Agreement (JDA) – Taxation under Income Tax & GST published in the month of April’2020 I have discussed taxation aspects of Joint Development Agreement (JDA) transactions under Goods & Services Tax Act, 2017(GST) and Income Tax Act,1961 in a detailed manner. Now, on making a further in-depth …
by CA Manoj Nahata 
1. Whether liquidated damages and other penalties like milestone penalties levied on suppliers/contractors in the nature of making good the damages for any delays in supply of service or goods in the cases of Supply and Maintenance Contracts and Project Construction Contracts are exigible to GST or not? Held: GST applicable only on liquidated damages. …
by CA Manoj Nahata 
1. Whether GST is payable under RCM on the salary paid to the directors of a company? Held: Yes In the case of M/s. Clay Craft India Pvt. Ltd.-AAR Rajasthan, the applicant is a private limited company. Its directors are working as employees of the company for which they are being compensated by the company …
by CA Manoj Nahata 
1. Whether collecting fees from members and spending it on organizing leadership programs for members by club is liable to GST? Held: Yes In case of M/s Lions Club of Poona Kothrud-AAAR Maharashtra, the applicant is an autonomous unit that collects fees from their members in order to conduct social activities and meet their administrative …
by CA Manoj Nahata 
1. Whether parking lot services provided by a contractor appointed by the Market Committee is exempt? Held: Not In the case of M/s Pushpa Rani Pabbi-AAR Punjab, the applicant has been appointed as a contractor for providing parking lot services at the place of the market committee (Mandi Board) at Jalandhar. The applicant has sought …
by CA Manoj Nahata Input your search keywords and press Enter.