*_No Interest or Penalty on wrong availment of ITC: Madras High Court_*

*In the Favour of Taxpayer* *Issue* Whether proper officer was correct in imposing 100% penalty and interest u/s 50(3) of the CGST Act 2017 where the taxpayer has availed excess transition credit with an intention to utilise the same in future. Where such excess credit availed by the taxpayer remains unutilised, whether department can proceed […]

*_Recovery of Notice Pay is not a Supply under GST: AAR, Maharashtra_*

GST Solutions for Professionals

*In the Favour of Taxpayer* *Issue* Whether the notice pay recovered by the employer from the employee in lieu of not serving the notice period is a supply under Section 7 of CGST Act 2017? Whether the recovery of notice period shall be treated as consideration towards tolerating and forbearing an act of the employee? […]

Revealed: 7 Shocking Mistakes every consultant does

7 Shocking Mistakes

Over the period of last one decade, I had been grappling with the high work low pay situation and has been trying to understand the whole scenario around it. I have realized that the finance industry especially the consulting services is so saturated and is not getting its worth. We did a study and based […]

Is your client “Intermediary”? Let’s Find out:

There had been long drawn discussion on whether a person should be treated as an intermediary for the purposes of GST Act or not. The issue has been messed up with round of interpretations being done by the Central and State GST Authorities. The Board had also earlier issued one circular which further elevated the […]