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June 2023

Society News

By Kinjal Shah | Anand Bathiya
Hon.Jt. Secretaries
Reading Time 4 mins
LEARNING EVENTS AT BCAS 1.    It's about Beverages - A GST Perspective - Indirect Tax Laws Study Circle Meeting In a meeting organised on 8th May, 2023, CA Gaurav Kenkre, group leader of the BCAS Indirect Tax Laws Study Circle presented six crisp and interesting case studies on GST rates, classification and input tax credit on supply of Beverages. The presentation and discussion broadly covered the intricacies on the following topics: 1.    Eligibility of Input Tax Credit on purchase of various beverages (including water) for consumption of staff, customers, etc., 2.    Charge of GST on Cocktails (Mix of alcoholic and non-alcoholic drink) in a Pub, 3.    Charge of GST on Cover Charge towards unlimited alcoholic drinks and food, 4.    Reversal of Input Tax Credit towards use of non-alcoholic drinks along with alcoholic drinks, 5.    HSN classification of carbonated fruit beverages, 6.    HSN classification of aerated tea beverages. Around 102 participants across India benefitted by actively participating in the meeting held under the mentorship of Adv. A Jatin Christopher. 2.    Controversies under Liberalised Remittance Scheme (‘LRS’) - FEMA Study Circle Meeting On 28th April, 2023, a meeting of the FEMA Study Circle was organised. The meeting was led by CA Bhavya Gandhi, group leader. The
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