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November 2023

Society News

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Reading Time 9 mins

LEARNING EVENTS AT BCAS

1. Indirect Tax Laws Study Circle - Legal position w.r.t conditional rate notifications under GST held on 16th October, 2023, in Online Mode.

The group leader CA Archit Agarwal had prepared 6 case studies on various issues revolving around the topics covering live issues, circulars and AARs / HC judgments. The case studies covered the following aspects for a detailed discussion:

1. Whether GST @ 18 per cent with ITC can be paid despite the specific entry in the rate notification?

2. Whether taxpayers can change the method of payment of GST from 18 per cent with ITC to a specific rate of 5 per cent without ITC after 5 years (i.e., after the ITC portion of the aircraft gets fully depreciated)?

3. Whether the conditions of lapsing of ITC on inverted duty structure through circular is legally valid?

4. Whether procedural lapse of filing declaration for opting GST @ 12 per cent with ITC for GTA be defended after the issue of SCN and whether any other remedy is available?.

5. Issues in the claim of abatement towards land cost by Taxpayers in Real Estate and Construction.

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