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Showing posts from May, 2020

GSTR-2A B2B Consolidated Party Wise Report Utility

The utility attached herewith which will helps you in merging All GSTR 2A Excel Sheet & Prepares the Consolidated Party Wise Detailed Report.

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Are buyers liable for deposit of Tax under GST by selling dealer?

Introduction :- Section 16(2)(c) of the Central Goods and Service Tax Act 2017 ( Act) states that subject to the provisions of section 41, the tax charged in respect of such supply has been actually paid to the Government, either in cash or through utilisation of input tax credit admissible in respect of the said supply. Further Section […]

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GST Series Part 8- Valuation of Taxable Supply | Section 15 | CGST Act, 2017

1. The term ‘Valuation’ is significant under the GST Act as it will determine the amount of tax to be paid by the supplier of the goods or/and services. Section 15 of the CGST Act 2017 talks about the valuation of the supply of goods or/and services supplied in different circumstances and to a different […]

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HC directs for Issue of GST refund delayed due to Processing by officer interface option

Akay Flavours & Aromatics (P) Ltd. Vs CBIC (Kerala High Court) In the given case, the petitioner has later filed amendments in the GST returns with IGST amounts, therefore, the refunds can be processed through an officer interface option, which is already availed in ICES. Necessary action to sanction IGST refunds in the instant case […]

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HC not to interfere despite Writ application filed, when order in form GST MOV 11 already been passed

Shiv Agro Vs State of Gujarat (Gujarat High Court) For final decision regarding confiscation of goods and conveyance under GST, the applicant has to file statutory appeal under Section 107 of the G.S.T. Act before the appellate authority. Filing writ petition before court will not able to solve the issue since they will not interfere […]

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Cancellation of GST Registration without considering reply of Taxpayer- HC Set aside the order

Great Sands Consulting Private Limited Vs Union of India & ors. (Bombay High Court) In this case order cancelling GST Registration has has been passed without considering the reply and on the ground that no reply is filed, the impugned order will have to be set aside and the proceedings will have to be restored […]

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Provisional Assessment in GST & Assessment Forms

Provisional assessment under GST If the taxable person is unable to determine the value of goods or services or both or determine the rate of tax applicable thereto, he may request the officer for payment of tax on a provisional basis and the officer shall pass an order, within ninety days from the date of […]

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Goods Transport Agency Services under GST regime

1. Introduction 1.1 Transportation and Logistics is an important aspect of any economy and vital component of businesses. It is this part or activity which is responsible for movement and/or flow of goods from the place of manufacture to the end consumers. Approx. 14% of the Gross Domestic Product (GDP) is spent on transport and […]

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Import of Goods under GST- Brief Analysis

Article explains Definition of Import of Goods, Import of Goods- Scope of Supply under GST, Levy of GST on Import of Goods, Input tax Credit of GST paid on Import of Goods, Inter-state or Intra State supply, Place of Supply of import of Goods and Import of goods for personal use. Definition of Import of […]

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BCAS Representation on Goods and Services Tax Act

As our country is passing through an unexpected difficult period where almost all kind of commercial activities have become stand still. The entire country is in the lock down condition, and, either partial or full lock down may continue for some time

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All about filing of Form GST ITC-02A with FAQs

FAQs on Filing of Form GST ITC-02A Q.1 What is Form GST ITC-02A? A person having multiple places of business in a State or Union territory may be granted separate registration for each place of business. If a registered person, who has obtained separate registration for multiple places of business in a State/UT and intends […]

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Renting of motor vehicle service under GST

The introduction of the Goods and Services Tax (GST) in India was held as one of the most significant tax reforms in the country. It has ensured rationalization of the economy and reinforced mop-up, producing consistent convergence under the “One nation one tax” idea. Supply under GST has been defined under Section 7 of CGST […]

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GST: Prohibition Order passed by DC without authorization is invalid

Mahendra Kumar Indermal Vs Deputy Assistant Commissioner (Andhra Pradesh High Court) As per the provisions of Section 67(1) of the Act, power of inspection is specified to an officer not below the rank of joint commissioner. The said officer for the purpose of search as specified in Section 67(1) (a) and (b) may authorize in […]

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Classification of Alcohol Based Hand Sanitizer

Issues in classification – Pharma Products 1. Chapter 30 of the Customs Tariff Act covers classification of pharmaceutical products. The most essential characteristic of any medicine is its curative effect i.e. therapeutic use. Curative effect means its ability to cure the disease or mitigate the disease. Another important characteristic is medicines should have the ability […]

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Applicability of GST on Hospitality Industries

As per sub-clause (a) of Entry no 5 of Schedule II of CGST Act, 2017, 'renting of immovable property' hotel accommodation Supply is considered as supply of service. Supply of food is treated as composite supply of service, as per sub Para (b) of Entry No 6 of Schedule II of CGST Act, 2017, 'supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article for human consumption or any drink (other than alcoholic liquor for human consumption), where such supply or service is for cash, deferred payment or other valuable consideration.'

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TDS under GST is applicable only for taxable supply contracts

In re Mahalakshmi Mahila Sangha (GST AAR Karnataka) The supply of services made by the applicant in the form of supply of food and drinks to the educational institutions is covered under entry no. 66 of Notification No.12/2017-Central Tax (Rate) dated 28.06.2017 and entry 66 of Notification (12/2017) No. FD 48 CSL 2017 dated 29.06.2017 and […]

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GST not applicable on transaction occurring outside India

In re Dolphine Die Cast (P) Ltd (GST AAR Karnataka) In the case of manufacture of Die by the applicant and invoiced to the recipient, without moving the goods, the applicant has to raise the tax invoice addressed to the foreign buyer. Since it is an intra-State supply, he has to collect the CGST and SGST […]

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18% GST payable on service provided to NCBS

The works contract service provided by the applicant to NCBS, is liable to tax at: 18% (CGST+SGST) as it is covered under item no. (xii) of Serial No.3 of Notification No.11/2017 - Central Tax (Rate) dated 28.06.2017 as amended from time to time

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Kraft paper/ paper honeycomb board classifiable under heading 48089000

In re LSquare Eco Products Pvt Ltd (GST AAR Karnataka) Whether the HSN code applicable for kraft paper made honeycomb boards be 48081000 or 48089000? On verification of the structure and purpose for which kraft paper honeycomb board or paper honeycomb board used are similar to the corrugated paper board (listed under 48081000), only difference […]

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Canteen Recovery: A ‘paraplegia’ under GST

Provision of canteen facility to employees, as a part of their pay package, is not a supply per se and accordingly no GST needs to be charged on such perquisites.

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A Quick Overview on 5 Recent Judicial Rulings in GST

Article summarises 5 recent Judicial ruling in which it was held that 1. Order of Prohibition passed by DC without authorization is invalid 2. Best Judgement assessment cannot be invoked on failure to file GSTR-3B 3. The ex-parte assessment order passed during lockdown period needs to be Quashed 4. No GST on Whole Time Director’s […]

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GSTR9 Form FY 2018-19 Related Some Illustrations & Solutions

OUTPUT LIABILITY OF POINT 4, 10 & 11 of GST ANNUAL RETURN FY 2018-19 Sales Part Illustration Illustration -1 Illustration -2 Illustration -3 Particulars IGST CGST SGST IGST CGST SGST IGST CGST SGST Sales as per Books FY 18-19 42000 30000 30000 42000 30000 30000 42000 30000 30000 Sales Returns as per Books FY 18-19 […]

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Join Online GST & Income Tax Course at 40% Discount

Join Online Self-Learning GST and Income Tax Course at up to 40% discount till 17th May 2020 Sharpen your skills while in Quarantine. As our country fights the Covid-19 and we are all in a lockdown for 21 days, TaxGuru Edu aims at making your quarantine – a quality time. Through the self-learning courses, we hope to […]

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Summarised GST due Date Compliance calendar Amid COVID-19

Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended date for GST filings, return lower or nil Interest, Late fee & Penalty for Regular & Composite Taxpayers. I have prepared an article regarding various changes in Goods & Service Tax. This article provides summary of major changes from the inception of Lock […]

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GST Revocation & GST Registration Cancellation –FAQ’s

Dear Friends, as we all are aware, due to COVID-19 impact our economy is running very slow and as per economist this year our GDP growth rate will be very low. During this lockdown period various queries are received from GST registered MSME Units related to GST registration cancellation on voluntary basis, due to business […]

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GSTR-2A B2B Consolidated Percentage Wise Report Utility

GSTR-2A Business to Business (B2B) Consolidated Percentage Wise Report Utility in Excel Format helps you in merging All GSTR2A Excel Sheet & Prepares the Percentage Wise Report. Please note Form GSTR-2A is a system generated ‘draft’ Statement of Inward Supplies for a receiver taxpayer. It is auto-populated from the Form GSTR-1/5, Form GSTR-6 (ISD), Form […]

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Obtaining multiple GST registrations within same state or union territory

As per Section 25(2) of CGST Act 2017, A person seeking registration under this Act shall be granted a single registration in a State or Union territory: Provided that a person having multiple business verticals in a State or Union territory may be granted a separate registration for each business vertical, subject to such conditions […]

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Extended GST due dates of all GST Return

Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended dates for GST filings. These are notified in Notifications 30/2020 to 36/2020 dated 03.04.2020 & 40/2020 dated 05.05.2020. Circular No. 136/06/2020-GST dated 3rd April, 2020 has been issued. Extended GST due dates GSTR 1: Quarterly & Monthly GSTR 3B: Monthly Note: 07.2020 – […]

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Clarification in respect of appeal in regard to non-constitution of Appellate Tribunal

Various representations have been received wherein the issue has been decided against the registered person by the adjudicating authority or refund application has been rejected by the appropriate authority and appeal against the said order is pending before the appellate authority.

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Capital Gains Tax & GST on sale of Gold, Jewellery, Sovereign Gold Bonds & Gold ETF

Capital Gains Tax and GST on sale of Gold, Jewellery, Sovereign Gold Bonds and Gold Exchange Traded fund (ETT) Thinking of selling gold during Novel Coronavirus pandemic to meet day to day expenses? check Capital Gains and GST implications on such sale. Before I jump into the topic, let me first explain, why investing in […]

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Director remuneration: Applicability of GST amid controversial rulings of AAR

I am analyzing the applicability of the GST provisions under the current regime on Director remuneration with a reference to the erstwhile Service Tax regime, Companies Act, 2013, Income-tax Act, 1961 and other relevant laws and case laws cited.

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Registration of IRP/RPs enabled on GST Portal

Facility for registration of IRP/RPs made available on the GST Portal 1. Insolvency Resolution Professionals/ Resolution Professionals (IRPs/RPs), appointed to undertake corporate insolvency resolution proceedings for Corporate Debtors, in terms of Notification. No 11/2020-CT, dated 21st March, 2020 can apply for new registration on GST Portal, on behalf of the Corporate Debtors, in each of […]

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Taxes on Supply of goods or services through social media

With the emergence of SOCIAL MEDIA not only the world has become a small global village but also people have turned their hobbies into business. Since social media is a large platform where people interact on daily basis which has not only increased the network of a person but has also given wider stage for […]

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GST Series Part 7 | Time of Supply | Section 12 to 14 of CGST Act

1. The concept of Time of Supply is an important pillar of GST as it determines, the date when the liability to payment arises. Section 12 and 13 govern the determination of time of supply of goods and services respectively and Section 14 determines the time of supply for goods and services in case there […]

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Input Tax Credit not restricted for not payment by seller

Introduction :- Section 16(2)(c) of the Central Goods and Service Tax Act 2017 ( Act) states that subject to the provisions of section 41, the tax charged in respect of such supply has been actually paid to the Government, either in cash or through utilisation of input tax credit admissible in respect of the said […]

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GST Interest & Late Fee Auto Calculator for Extended Due Dates due to Covid 19

GST Interest and Late Fee Auto Calculator for Extended Due Dates due to Covid 19 in Excel Format Due to Covid 19 pandemic in India, The Indian Government has extended the Due Dates of filing GSTR returns of various assesses for the months of February 20 to April 20. These dates are declared through Notifications 30/2020 to 36/2020. […]

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Import of Services- Taxation & Exemption under GST

Import of Services under GST means supply of service, where:- i) Supplier located outside India. ii) Recipient located in India. iii) Place of supply In India Transaction compiling all the above three conditions will constitute import of service. Scope of Supply: As per section 7(1)(b) import of service is specifically included in scope of supply. […]

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GST Implications on Hotels & Restaurant Industry

Indian tourism industry is a major contributor to the Indian Economy, and it is expected that it will grow at a higher pace in times to come and become a major revenue earning industry for the Government. Hotels and restaurants are a major component of the tourism industry and can be termed as the backbone […]

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Much Awaited ITC-02A form – Enabled on GST Portal

Taxpayer need to file Form GST ITC-02A, if he/she has obtained separate registration for multiple places of business in a State/UT and intends to transfer unutilized matched Input Tax Credit lying in his/her Electronic Credit Ledger to registered entities/place of businesses. This form was not enabled by GSTN but recently HSTN has enabled file of […]

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MVAT: Guidelines for condonation of appeal, acceptance of form 314 & rectification of assessment order

Guidelines for delay condonation in appeal, acceptance of form 314 and rectification of assessment order by the nodal officer under the MVAT Act 2002 vide Trade Circular No. 08 T of 2020 dated 25/05/2020. Office of the Commissioner of State Tax, 1st floor, GST Bhavan, Mazgaon, Mumbai – 400 010. TRADE CIRCULAR No. VAT/AMD-2020/1A/Adm-8 Trade […]

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GST Fraud Case: HC denies Bail, considering SC Order in case of Co-Accused

Rajesh Arora Vs Union of India (Rajasthan High Court) Petitioner has filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in F.I.R. No. 15/2018 registered at Directorate General of Goods and Services Tax Intelligence Zonal Unit, Jaipur for offences under Sections 132(1)(B), (C), (D), (F), (I), (L) of the Central […]

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Is GST Audit Applicable on Turnover Exceeding Rs. 2 Crores

In the present article I am going to discuss the law and procedure of Audit to be conducted by the department and special audit as prescribed under GST law. The concept of Audit is not a new concept, the tax payers are already required to get his books of accounts aFor Filing GSTR -9 AND […]

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GST Refund- Scenarios, Time Limit, Procedure & Points to consider

Article explains What is Refund of TAx Under GST, Refund Scenarios Under GST, Time Limit of GST Refund, Procedure for GST Refund, Maximum Input We Can Claim For GST Refund and Points To Be Considered For Smooth GST Refund. What is Refund of Tax Under GST: -Refund refers to any amount that is due to […]

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Whether transfer of development rights is ‘Sale of Land’

As per Paragraph 5 of Schedule III ‘sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building’ shall be treated as neither supply of goods not supply of services. Development rights are as such not defined in GST law, nor they were defined under the service tax law or […]

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GST ITC-02A enabled on GST portal

GST portal has now enabled filling of GST ITC-02A. GST ITC-02A is a declaration of untilized ITC transferred for obtaining a separate registration within the same state or union territory. Rule 41A deals with Transfer of credit on obtaining separate registration for multiple places of business within a state or UT- (1) A registered person […]

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Meaning & Scope of Supply | Section 7 | CGST Act 2017

Today, I will discuss the section 7 (Meaning and Scope of Supply) under CGST Act, 2017 with relevant extract of other relevant sections. Section-7 Meaning and Scope of Supply under GST This section is very important because, if any transaction/activity is supply then only GST tax is applicable. So for determination of taxable Amount and […]

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Effect on GST – Gift vs Business Promotion Expenditure

1. Person in Trade and Industries are in the fix regarding availability of Input Tax Credit (ITC) on certain type of Business promotion expenditure. Such expenditures are necessary to boost the sale of service. and before we proceed further let us look into certain sections/clauses/terms and conditions. 2. Relevant Provision : Section 17(5)(h)…. Notwithstanding anything […]

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Concept of job work under GST

Article explains Meaning of job work under GST Law, Classification of job-work transaction as supply of goods or service for GST, Treatment of job work transactions in GST in diffrect Scenarios i.e. (a. Supply of goods from Principal to Job worker & returned by job worker within specified time b. Supply of goods from Principal to Job worker and returned by job worker after specified time

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A GST cut can put auto sales on fast track to revival

Automobile manufacturing is gradually restarting as curbs put in place to check the spread of coronavirus are eased. The question is whether there will be adequate demand and, more importantly, what the government can do to encourage sales. Mint takes a look.How did auto sales fare in the last fiscal?Automobiles comprise passenger cars and vans; two-wheelers, including motorcycles, scooters, and mopeds; commercial vehicles; three-wheelers and quadricycles. The total sales in 2019-20 were around 18% lower at 21.55 million units than in 2018-19. Two-wheeler sales, which comprise a bulk of total sales, fell 17.8% to 17.42 million units. Part of the drop in sales was due to the lockdown introduced in late March. But sales had been falling right through 2019-20. This was a reflection of a slowdown in the Indian economy and a lack of confidence among people in their economic future to be able to pay equated monthly instalments.What can the govt do to revive auto sales?Sales in March were ha…

CBIC clears Rs 11,052 crore GST refund claims since Apr 8 to benefit MSMEs

The finance ministry had on April 8 said that to provide relief during the cor it has been decided to issue all pending GST and custom refundsThe Central Board of Indirect Taxes (CBIC) on Monday said it has sanctioned GST refund claims worth Rs 11,052 crore in 47 days.In a tweet, the CBIC said it is “committed to ensuring liquidity to GST taxpayers especially MSME sectors during the lockdown”. The tweet added that 29,230 refund claims amounting to Rs 11,052 crore disposed of between April 8-May 24, the CBIC added.Refunds have been sanctioned while ensuring work from home, it added. The finance ministry had on April 8 said that to provide relief during the cor it has been decided to issue all pending GST and custom refunds which would benefit around 1 lakh business entities, including MSME.The total refund granted will be approximately Rs 18,000 crore, it had said.The CBIC had earlier asked its field officers to avoid asking for physical submission of documents from entities who are cl…

Tax on Blogging income under Income Tax & GST with FAQs

In recent times, blogging has become one of the trending professions in the market. One of the major reasons behind it is income generating capacity of this profession. Bloggers can earn lakhs of rupees per month but most of the time they are unaware about the tax implications on their income. Hence today we are […]

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Join Online GST & Income Tax Course at 40% Discount

Join Online Self-Learning GST and Income Tax Course at up to 40% discount till 17th May 2020 Sharpen your skills while in Quarantine. As our country fights the Covid-19 and we are all in a lockdown for 21 days, TaxGuru Edu aims at making your quarantine – a quality time. Through the self-learning courses, we hope to […]

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Input Tax Credit taken on registration-cancelled-vendor’s invoices & its impact

1. Situation arises: 1.1 Assessee found; invoices given by some suppliers are not appearing in GSTR-2A during verification of GSTR-2A for filling GSTR-3B return as per notification No. 49/2019-CT, dated 9th October, 2019 and circular 123/42/2019-GST, dated 11th November, 2019. 1.2 Further Assessee verified GSTN of those suppliers in GST portal to check the return […]

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Refund of Unutilized ITC on Zero Rated Outward Supply of Exempted Goods

Refund of Unutilized Input Tax Credit (ITC) on Zero Rated Outward Supply of Exempted Goods As per Section 17(2) of CGST Act, 2017- ’Where the goods or services or both are used by the registered person partly for effecting taxable supplies including zero-rated supplies under this Act or under the IGST, and partly for effecting […]

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ITC of GST paid on works contract services | Significance of nature of property “permanent or movable” & related accounting treatment

ITC of GST paid on works contract services – Significance of nature of property ‘permanent or movable’ and related accounting treatment Pursuant to Covid-19, the business across the globe has undergone various changes which not only includes changes in the working methodologies and IT processes but also includes changes in the physical working environment. The […]

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AP High Court Allows option to revise GST Return

The Andhra Pradesh High Court has ruled that the GST Return (GSTR) Form — GSTR-3B — is a statement and a revision option should be provided. Once implemented at the national level, it will be a big relief for a large number of GST assessees — excluding those under composition scheme. All taxpayers, except those […]

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All about GST on E-commerce

I have tried my level best to cover all the applicable provisions of GST on e-commerce transaction, today we are living in 21st century and day by day e-commerce transaction is increasing rapidly in the view of this even government introduced some new provisions through GST which was not there before the commencement of GST […]

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Registration Under Goods and Service Tax – Comprehensive analysis

Registration under GST : The registration requirements have undergone various changes since the inception of the Goods and Services Tax on 1st July, 2017. There are numerous amendments and also notifications and circulars issued in this regards Section Description 22 Persons liable for registration 23 Persons not liable for registration 24 Compulsory registration in certain […]

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Transitional Credit Battle under GST – Walk Through

The Government should come up with the mechanism for the taxpayers who could not or partially to avail the benefit of unused erstwhile credit. The taxpayers must submit TRAN-1 manually till government comes with the mechanism. Further, if government does not come up with mechanism, such notification (NN 43/2020) will add fuel to the burning issue of transitional credit.

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GST Needs A Robust Information Technology System

Goods and Service tax is about to complete 3 years of its implementation and after lots of notifications, circulars, and amendments, it is trying to bring stability and smoothness in its functionality. This journey would not be possible without the help of information technology. Information Technology plays a very important role in GST implementation and […]

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GST on shifting / erection of electrical lines for Main Contractor of NHAI

In re G K Enterprises (GST AAR Rajasthan) Applicant is proposing to submit a bid for shifting / erection of electrical lines only to M/s Sadbhav Jodhpur Ring Road Pvt. Ltd who is the main Contractor of NHAI. Thus the activity to be carried out by the applicant is restricted to shifting / erection of […]

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How to Correct or Check Export Invoice Details with ICEGATE for Quick Refund under GST (With Payment Tax)

Many of us have issue with Export Refund not getting credited to our Bank account, even if we have correctly filed all required data in our GSTR 1, GSTR 3B and also with Custom, Then why we are not getting Refund ?? > What are Reasons for this type of Issue? > What are the […]

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GST on sprinklers systems for use in Drip irrigation system: AAR allows withdrawal of application

In re Arihant Plast (GST AAR Rajasthan) Questions asked by Appellant 1. Whether parts of sprinklers systems sold by us like HDPE SPRINKLER FEMALE COUPLER, HDPE SPRINKLER MALE COUPLER, HDPE SPRINKLER BEND, HDPE SPRINKLER END CAP, HDPE PUMP CONNECTING NIPPLE,HDPE SPRINKLER REDUCER etc., exclusively meant for use in Sprinkler and Drip irrigation system but sold […]

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AAR cannot rule on documents required to prove receipt of proceeds in foreign currency

In re Thinklab Edusoft LLP (GST AAR Rajasthan) In the instant case, we observe that the following question sought by the applicant are outside the scope of Section 97(2) of CGST Act 2017 therefore the application is liable for rejection without going in to the merit of the case under Section 98(2) of CGST Act […]

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GST Series Part 5 – GST Composition Scheme under Section 10 of CGST Act 2017

1. A simplified composition scheme has been provided; vide section 10 of CGST Act for small taxable persons who do not have sufficient knowledge and expertise to comply with the GST requirements relating to records and accounts. 2. The scheme is available to those whose aggregate turnover in the previous financial year did not exceed […]

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Profiteering’ charge upheld against Park Avenue product of Raymond: NAA

Sh. Rahul Sharma Vs J.K. Helene Curtis Ltd. (NAA) The brief facts of the case are that the Standing Committee on Anti-profiteering vide its communication dated 11.03.2019 had requested the DGAP to conduct a detailed investigation as per Rule 129 (1) of the above Rules on the allegation that M/s Raymond Ltd. had not passed […]

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Credit Note and Debit Note under GST Regime

A Credit Note and Debit Note for the purpose of GST Law, can be Issued by the Registered Person who has issued the tax Invoice i.e. The Supplier. Any Such Document, by whatever name called (Debit Note or credit Note) when issued by the recipient to the registered supplier, will not be considered any document […]

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Legality of withholding GST refunds of exporters as per circular No. 131/1/2020-GST

Exports under GST are considered as zero rated i.e. no tax is payable on export of goods or services. A person making zero rated supply is eligible under GST to claim for refund of unutilized input tax credit. The refund can be claimed by an exporter in two ways as stated in section 16 of […]

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Webinar on GST Audit, Notices from GST Dept & Reply to such notices

NEW DATES FOR 2 Day Web Series on GSTAM (GST Audit Manual) issued by CBIC &Various Notices & Orders received from the GST Department across India and how to prepare for or reply to such notices Tax Guru in association with Tax Connect is Organizinga 2 Day Series for discussions on GSTAM (GST Audit Manual) […]

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GST on Director Remuneration- Analysis of ruling by Rajasthan & Karnataka AAR     

The taxability of director remuneration under GST law should be determined on the basis of appointment terms, copy of agreement between director & company, principle of whether a director is employee or not, details of statutory deduction such as PF, ESI, and TDS etc.

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GST on shifting / erection of electrical lines for Main Contractor of NHAI

In re G K Enterprises (GST AAR Rajasthan) Applicant is proposing to submit a bid for shifting / erection of electrical lines only to M/s Sadbhav Jodhpur Ring Road Pvt. Ltd who is the main Contractor of NHAI. Thus the activity to be carried out by the applicant is restricted to shifting / erection of […]

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Fate of Compensation cess under GST

Background: Remembering the good old days when we often received pocket money from our parents for funding our expenses, similarly under Goods and Service Tax (‘GST’) law Center apportions a share of its revenue to states for their expenses too. One such source of revenue under GST is the compensation cess levied on specified luxury […]

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GST on Government services – Exempt or Taxable?

Basis of Opinion At the outset, we would like to draw your kind attention to some of the key phrases and relevant extracts of certain notifications, connected with the subject matter to understand the concept with more clarity.  Notification No. 12/2017-Central Tax (Rate), dated 28-6-2017 as amended from time to time  1. No. 4: Services […]

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All about High Sea Sale and Warehouse Sale under GST

In this article we are going to discuss about the inserted two provision in GST in Schedule III of CGST Act which comprises the negative list under GST ie treated as NON-GST supply. Prior to this, there was very much ambiguity in law in respect of below mentioned transaction that whether it will treated as […]

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ICSI Requests amendment in GST law due to COVID 19

It is further requested that time of supply of goods or services or both be defined as receipt of money or money equivalent towards supply of goods or services or both and the supplier discharges tax liability on receipt basis proportionate to amount received, inclusive tax. Similarly, a supplier shall avail Input Tax Credit (ITC) proportionate to the payments made within the period of time specified of and reverse credit on non payment of supplies received.

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States GST collections may dip 30 per cent this fiscal: ICRA

The States Goods and Services Tax (SGST) collections are expected to contract by 30 per cent to ₹3.5 lakh crore in FY21 from ₹5 lakh crore in FY20, reflecting lower consumption of non-essential items in the aftermath of the Covid-19 pandemic, according to credit rating agency ICRA.With the protected revenues of the States estimated at ₹7.7 lakh crore for FY21 (₹6.7 lakh crore in FY20), the agency anticipates a multi-fold spike in the State governments’ GST compensation requirement to ₹4.1 lakh crore in the current fiscal, from ₹1.7 lakh crore in FY20.Of the State governments’ GST compensation, ₹1.2 lakh crore was released by the Centre to the States during FY20, leaving an unpaid balance of ₹50,500 core as of end-March, the agency said in a report.Jayanta Roy, Group Head – Corporate Sector Rating, ICRA, observed that with the Covid-19 pandemic and associated lockdown expected to shrink non-essential consumption, the finances of the State governments would undergo a dual shock.“Firstly…

GST council may extend compensation cess levy beyond 5 years

Faced with a sharp decline in GST collections due lockdown and disruptions in economic activities across the country, the government is looking at paying GST compensation to states using a portion of its borrowings and repaying it by collecting cess in the sixth or further subsequent years.Under the GST law, states are guaranteed full compensation for any revenue loss for the first five years after the introduction of the goods and services tax (GST) in July 2017.The compensation is a gap between actual revenue collected and projected revenue. The projected revenue is revenue growth of 14 per cent for states per year over base year 2015-16.As per the GST Act, full compensation to the states has to be paid for a period of five years till FY22 only through the compensation fund that gets its funds through a levy of GST compensation cess on few items. However, with funds not getting enough collections since August 2019, the GST compensation to states have been delayed with Centre now loo…

Emaar MGF found guilty of profiteering, to refund Rs 13 cr to homebuyers

The National Anti Profiteering Authority has ruled that the realty firm has benefited from additional input tax creditGST anti-profiteering authority has found real estate firm Emaar MGF guilty of profiteering of Rs 13.35 crore and directed it to return the amount to 1,239 homebuyers with 18 per cent interest.The National Anti Profiteering Authority (NAA) has ruled that the realty firm has benefited from additional input tax credit (ITC), which is 11.90 per cent of turnover between July 2017 and March 2019.Based on a complaint filed by a home buyer in Emerald Floor Premier project and an investigation report of Directorate General of Anti Profiteeeing (DGAP), the NAA in its ruling said Emaar MGF has Profiteered an amount of Rs 13.35 crore.“The Respondent (Emaar MGF) is directed for pass on an amount of Rs 13,35,79,636 and the amount of Rs 1,04,734, along with interest @18 per cent annum from the dates from which the above amount was collected by him from them (homebuyers of Emerald Fl…

GST Analytics wing to identify risky suppliers to exporters

The CBIC has asked GST risk management wing to conduct supply chain analysis to identify risky major suppliers to exporters and share it with jurisdictional field officers.The Central Board of Indirect Taxes (CBIC) had received representations from exporters saying in some cases the Integrated GST (IGST) refunds are getting delayed by over 6 months.Last year, the CBIC had detected several cases of firms availing credit fraudulently through refund of Integrated Goods and Services Tax on exports of goods.To mitigate the risk, the CBIC has taken measures to apply stringent risk parameters based checks, and the consignment of such exporters in risky category are subject to 100 per cent Customs examinations and their refunds were kept in abeyance.The CBIC, which had in January issued a standard operating procedure (SoP) to be followed by such exporters, has now asked GST and Customs Zonal principal chief commissioners to forward all pending verification report to Directorate General of Ana…

Impact of COVID 19 on business, GST Perspective

Impact of COVID 19 on GST Indian government chose complete lockdown as an important measure to protect human life’s from the rapid spread of COVID 19 outbreak. Besides human life which is the most important, nationwide complete lockdown has had a worst impact on the economic activities resulted into huge revenue loss to the Government […]

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Treatment of Cash Transaction & Cash Expenses Limit in Income Tax

अर्जुन: हे माधव, प्रणाम! मेरी एक समस्या का निवारण कीजिए। कृष्ण: कहिए अर्जुन! बताइए क्या समस्या हैं? अर्जुन: माधव, मुझे यह बताए कि GST कानून के तहत एक टैक्सपेयर कितने रुपए का नकद में लेन-देन कर सकता हैं? कृष्ण: वत्स! GST कानून में नकद लेन-देन को लेकर कोई भी प्रावधान नहीं हैं परन्तु इनकम टैक्स […]

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HC directs Nodal Officer to consider form TRAN-I rectification request

Beauty Wares Vs Assistant Commissioner of CT & CE (Madras High Court) The petitioner has filed the writ petition for a mandamus to permit him to avail credit on the closing stock of input footwear available by rectifying Trans-I filed by them earlier. After considering the decision of Punjab and Haryana High Court held in […]

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Retrospective GST amendment – Transitional credit claims of past- Dis-entitled now?

GST laws contain Transitional provisions inter alia Section 140 of CGST Act, 2017 (similar provision in State GST laws) enables the taxpayer to carry forward the unutilized input credit under the pre-GST regime and allow the credit of taxes paid on the stock as on 30.06.2017 as GST credit. For this, Rule 117 of CGST […]

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Arrest, Bail And Compunding in GST

Recently a single member High Court Bench has provided for conditional bail of the accused on the condition that they may approach the GST authorities for Compounding of their Offenses as provided under the act. Compounding of Offenses as provided by Section 138 of the GST law would allow the accused to avoid criminal prosecution […]

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Tax Dues not barred by Insolvency Proceedings under IBC

Electrosteel Steels Limited Vs State of Jharkhand (Jharkhand High Court) Facts The assessee company had challenged the garnishee order issued u/s 46 of the JVAT Act, asking the respondent Bank to pay into the Government Treasury, the sum of Rs.37,41,41,602/-, on account of tax / penalty due under the JVAT Act, from the assessee company, […]

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Constitutional validity of Reverse Charge Mechanism under GST

Earlier, the reverse charge concept was only there in Service Tax and was applicable to only services and not for goods. Under GST Law, Government have notified certain services and goods, on which GST is payable on the reverse charge basis.

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Devise a ‘GST loan’ for MSMEs

Such a facility will ease the immediate GST burden and help MSMEs conserve cashIt was only to be expected that a government that has always given importance to optics and catchy phrases would do the same, when the Prime Minister announced the ‘Atmanirbhar Bharat’ scheme. It did not take long for the optics to come out – ₹20 lakh crore was sanctioned exactly 20 minutes into the Prime Minister’s speech at 20:20 pm in the year 2020.Going by the developments in the days after the PM’s announcement, it appears that the Finance Minister and her team did everything they can to ensure that — at least mathematically — the sum total of their relief measures adds up to ₹20 lakh crore in some way or the other.The first reaction of everyone would have been to question how this humungous amount is going to be sourced, but it appears needless, since most of the money is not coming from the government anyway.MSME reliefIn choosing the first sector for its bonanza, the government did no wrong in going…

Covid crisis: Why Centre feels GST waiver could be a bad idea

However, some experts said instead of GST waiver across the board, an exemption on certain essential items could be implemented.The Centre is not inclined to accede to the industry demand for GST waiver at this juncture. Even though a final call on rate reductions will have to be taken at the GST Council, where the Centre and the states follow a democratic voting system, officials are of the view that the industry’s call for a GST waiver for six months to spur demand is misplaced, as it doesn’t factor in the adverse impact of such a move.The consequences would be felt not only by the industry itself but also by consumers and states, these sources said. Furthermore, keeping the GST in abeyance would allow imports to gain an unfair advantage over domestically manufactured goods, they felt.Officials were responding to the demand mooted by some that the GST regime be suspended for a certain period in the wake of the economic slump caused by Covid-19 pandemic. The proponents of the idea th…

GST on director’s remuneration: Cannons of taxation sacrificed at the altar of revenue collection

In these times of a pandemic with morbidity surrounding us, one would expect tax laws to be administered compassionately with revenue authorities not running amok with mystifying interpretations of the GST law, and tax policy to be benevolent.Indian GST law and regime will soon celebrate its third anniversary yet, controversies on some topics plague the field and cause unwarranted chaos. Unfortunately, cannons of taxation are sacrificed at the altar of revenue collection. An issue that has been overly complicated and subjected to varied interpretations, only to the detriment of taxpayers, is the issue of taxability of compensation paid to directors of an incorporated entity.There are varied views, and not all of them are accurate. On the one hand are advanced rulings in Alcon Consulting Engineers and Clay Craft, from the States of Karnataka and Rajasthan respectively. It has been ruled (without noticing the different nature of appointments and capacities) that directors are not the em…

Centre releases Rs 15,340 crore as GST compensation to States

Despite insignificant Good & Services Tax (GST) collections, the Centre on Wednesday released ₹15,340 crore as GST compensation to States/Union Territories.After the introduction of GST, the Centre had assured the States, through legislation, of full revenue compensation for the first five years.For the purpose of calculating the compensation amount, 2015-16 was assumed to be the base year. The growth rate of revenue for a State during the five-year period was assumed at 14 per cent a year. Compensation is paid bi-monthly while last instalment for any financial year is given in the next year.Though the Centre has not specified the period for which the amount is released, it is believed to be for the December-January period.But soon the April-May amount will be due, making it tough for the Centre to pay as it is estimated to be a much higher sum.Government sources said that since the last release of GST compensation cess of ₹19,950 crore to States and UTs made in February for the m…

Assessments under GST | Section 59 to 64 | CGST Act, 2017

This type of assessment outlines that every registered person shall make a self-assessment of his output GST payable and furnish the same in his respective monthly / annual return after discharging the aforesaid computed liability.

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Understanding Input Tax Credit: Pre & Post GST

Input Tax Credit is one of the most significant features of the GST Regime which provides a solution to avoid payment of ‘tax on tax’ also known as cascading of taxes. As the entire supply chain is subject to the same tax, tax paid at every stage would be available for set off for payment of tax at successive stage.

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Retrospective amendment in section 140 of CGST Act-An overview

Rule 117 of CGST Rules, 2017 provided an important timeline for claiming the input tax credit under transitional arrangements of 90 days with a power to commissioner to extend this period further for 90 days.  The period was extended till 27th December, 2017 to claim transitional credit

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Transitional Credits- Retrospective amendment & its Implications

1. While transitioning from the previous taxation regime to the new GST regime, eligible taxes paid in the previous regime were allowed as transitional credits under GST. It was intended to lower the cascading effect and preserve the vested credits. Sec. 140 of the CGST Act, 2017 along with Rule 117 contains the provisions related […]

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Refund on Compensation Cess under GST regime

What is Compensation Cess :For the purpose of providing compensation to the States for any loss of revenue post GST regime, compensation cess (CC) provisions were introduced for a period of 5 years (till 30.6.2022). Following goods are covered [Schedule u/s 8(2) of GST (compensation) Act or CESS Act] on which CC would be levied […]

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Input Tax Credit under GST | Section 16 to 18 | CGST Act 2017

Input Tax Credit (ITC) means the amount of tax paid on purchase of Input Goods, Input Services and Capital Goods and includes tax paid under Reverse charge. Then at the time of paying tax on output, you can reduce the tax you have already paid on inputs and pay the balance amount. This mechanism is […]

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GST refunds a need for a pandemic situation- Issues & Solutions

Let us now understand some of the issues under GST refund where the authority has gone beyond the delegated powers to provide the restriction to claim the GST refund.

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Adamancy of Government in Granting Transitional Credits

After lots of efforts, the Goods and Service Tax Act was introduced in India with effect from 1st July 2017. GST- Being a major indirect tax reform GST replaced many indirect tax laws that were prevalent and under which tax was levied by both the Centre Government and the State Government. Indirect Taxes that existed […]

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GST series Part 4 | Charging section 9 Levy & collection of GST

1. The charging section (Section 9 of CGST Act, 2017, Levy and collection of GST) is the most important section in any law for levy (impose) and collection (payment) of taxes. The very basic for the charge of tax in any taxing statute is taxable event. i. e. the point of time when tax will […]

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HC accepts plea challenging validity of provisions related to Constitution of AAR/AAAR

Chambal Fertilisers And Chemicals Limited Vs Union Of India (Rajasthan High Court) The petitioner has challenged the constitutional validity of Section 96(2) of the Rajasthan Goods and Service Tax Act, 2017 for short, ‘the RGST Act’) and Section 96 of the Central Goods and Services Tax Act, 2017 (for short, ‘the CGST Act’) to the […]

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Three year time-limit for filing TRAN-1 – Delhi HC Judgment

Rule 117 as being directory in nature, insofar as it prescribes the time-limit for transitioning of credit and therefore, the same would not result in the forfeiture of the rights, in case the credit is not availed within the period prescribed. This however, does not mean that the availing of CENVAT credit can be in perpetuity.

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Credit and Debit note under GST

Credit and Debit note under GST Introduction of credit note A supplier of goods or services or both is mandatorily required to issue a tax invoice.However, during the course of trade or commerce, after the invoice has been issued there could be situations like: Original tax invoice has been issued and taxable value in the […]

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Claiming input tax credit on employee spend that every MSME must know about to save time and money

GST and Taxation for MSMEs: Most businesses miss out on claiming input tax credit on reimbursable employee expenses. The primary reason behind this is the fact that employee spend is not adequately captured in regular business workflows. GST and Taxation for MSMEs: We are going through unprecedented times coupled with rising market uncertainty. This has left well-established firms scrambling to restructure their business operations to keep their business afloat and their cash flow steady. At times like these when funds are critical, you would not want to leave any money on the table. One area where we’ve observed most businesses miss out is on claiming input tax credits (ITC) on reimbursable employee expenses. The primary reason behind this is the fact that unlike typical business purchases, employee spend is not adequately captured in regular business workflows. However, it’s not too late now! You can still grab the opportunity to save some additional funds by capturing all employee …

Whatsapp allowed for GST, excise related virtual hearings

The directions follow instructions from Central Board of Indirect Taxes and Customs (CBIC) issued in April, allowing field offices to conduct hearings in customs, excise and service tax appeal cases via video conference with the consent of the appellant or respondent.Virtual hearing of all demand notices relating to indirect taxes including goods and services tax (GST) can be done through Whatsapp, authorities in Thane tax zone said a notice while issuing standard procedure for conducting the hearings.The decision has been taken due to situation arising from Covid 19, and the mandatory guidelines from government on maintaining social distancing norms.“Keeping in view the situation arising due to Covid 19, it has been decided to conduct personal hearing in respect of all demand notices through video conferencing,” the notice dated May 18, said.“Whatsapp video conferencing has been considered as on such suitable mode for video conferencing because it also has ‘end to end encryption’ and…

Govt may not heed calls to lower GST

The exemption would block input-tax credit that would have an adverse impact on businesses and may not result in any significant gain to consumers, two finance ministry officials said on Tuesday.The government may not accept industry demands to substantially reduce the Goods and Services Tax (GST) for six months to boost demand in the aftermath of the coronavirus disease (Covid-19) pandemic. The exemption would block input-tax credit that would have an adverse impact on businesses and may not result in any significant gain to consumers, two finance ministry officials said on Tuesday.Input tax credit reduces the tax paid on inputs from taxes to be paid on output of finished goods.The proposed GST exemption will make output tax zero, blocking the input-tax credit, which will add to the cost of the finished goods, the officials with direct knowledge of the matter said, requesting anonymity.“This will not only be injurious to the industry but also to the consumer at large and this is cert…

Time of Supply under GST | Section 12 | CGST Act, 2017

The Liability to pay tax on goods shall arise at the time of supply as determined in the terms of the provisions of the Section 12. Before we start the topic Time of Supply under GST Act, 2017, we need to understand section 31 and Section 12 must be read with Section 31, which prescribes […]

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GST Compliance in Case of GTA

Background of levying tax on the services of Goods Transport Agency  : The levy of Service Tax on Road Transportation Service has always been a debatable issue. The Finance Act, 1997 and 2004  had levied Service Tax on Goods Transport Operators (Transport Of Goods by road ) w.e.f. 16-11-1997  and 10-09-2004  respectively , which was […]

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Penalties – Fake Invoices and False Entries – GST Act 2017

Penalties for Fake Invoices and False Entries – Section 122 (1A) of CGST Act 2017  ( W.E.F 1.04.2020) for certain offences. The Finance minister in her budget speech has announced certain new provision in GST . According to Clause 124 of the Finance Bill 2020 Extract from the Finance Bill, 2020- 124. In section 122 […]

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