V.ALAGAPPAN FCA, LLB, CISA, ISA is a Partner of M/s Vruksha & Co Chartered Accountants, with offices at Tiruchirapalli, Thanjavur and Chennai. Past Chairman of Tiruchirapalli Branch of ICAI for the period 2004 to 2010. Member of the Advisory Committee of Commissioner of Central Excise and Service Tax Tiruchirappalli for many years. Also was a member of the Advisory Committee of Chief Commissioner of Income Tax Tiruchirapalli. Faculty at branches of SIRC of ICAI, a regular speaker on Service Tax, Central Excise, VAT and now GST at Various forums including SIRC of ICAI, its branches, Management Institutes, NACEN Chennai and State Tax officers Training centre Tiruchirappalli.
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Issue Id: 115729
sir i have been demanded interest for delayed filing of GSTR 3B returns even though i have paid my GST by the due dates prescribed. I have paid ...
Read Full Issue Goods and Services Tax - GST
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Tax collection targets driving aggressive electronic assessments and bank attachments, forcing large pre-deposits to secure appellate relief.
Tax administrations have used electronic-only notice service, refund adjustments, expedited notice sequencing and transfer to Faceless Assessment, and findings of unexplained bank receipts to generate large demands taxed at special rates, restricting revised returns and compelling sizable pre-deposits and installment payments; state authorities employ similar reconciliations and input credit reversals and exercise bank attachment and freeze powers combined with pre-deposit requirements for appeals. (AI Summary)
Income Tax
Input tax credit limitations under GST can bar corrections and create severe liability unless portal notices and return errors are actively monitored.
Indian GST imposes stringent deadlines and limited amendment mechanisms for claiming Input Tax Credit, causing severe consequences for clerical and reporting errors. Portal and procedural shortcomings-automated bulk notices, service to portal inboxes and banks only, lack of purchase-return procedures, and delayed amendment facilities-have led to large unsustainable demands and missed appeal opportunities. Taxpayers are advised to check the common portal daily and use professional monitoring to mitigate exposure. (AI Summary)
Goods and Services Tax - GST
Taxability of unit packed branded cereals depends on unit container and registered brand conditions for GST application.
Specified cereals are taxable under GST only when both conditions are met: they are put up in a unit container and they bear a registered brand name. Unit container is established by uniform, preprinted, sealed packaging of predetermined quantities; loose, non-uniform, or unsealed packs typically do not qualify. A registered brand means a trade name or mark registered under the Trade Marks Act; unregistered company names or brands do not satisfy the requirement. Taxability requires the cumulative satisfaction of packaging and registration conditions. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
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30 Nov 2019 
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