CA Jigar Doshi, Co-Founder, TMSL, a tax-technology firm, is a seasoned professional with over 17 years of experience in the field of Indirect Taxation. Jigar is a visionary in automation and loves to move in line with the global trends.
His domain of expertise includes GST, Customs, erstwhile Indirect Taxes and UAE VAT legislations. He has substantial experience in advisory, compliance, refund assessments and representation, and litigation. He has assisted various corporates on the optimization of indirect tax costs and has been working with clients from industries with a focused approach on pharmaceuticals, FMCG, banking, FIIs, and information technology.
Jigar has several honors to his credit. He was awarded Young Accountant of The Year 2019 by IAB Awards at London. He was also a part of the 15-member Group of Ministers meet for simplification of the GST return process. He has trained esteemed government officials and is also an empaneled trainer at the National Academy of Customs Excise and Narcotics.
Jigar writes regularly for various journals and speaks at several forums including international ones. He has also been selected for the category of ‘Emerging Global Leaders’ across Middle East and Asia by CNBC in 2021. He has been a panelist for the program ‘Hello GST’ telecasted on CNBC, several times.
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Input Tax Credit rules shifted to self-assessment and GSTR-2B reliance, with reversals and retrospective interest clarified.
Budget 2022 conditions ITC on supplier-uploaded details being available in the auto-generated statement and extends the cut-off for availing ITC; it replaces the two-way matching regime with Form GSTR-2B driven availability, omits sections enabling matching, establishes self-assessment for ITC with reversal where supplier tax is unpaid, empowers limits on electronic credit ledger utilisation, and prescribes retrospective interest on wrongly availed and utilised ITC with a notified maximum rate. (AI Summary)
Goods and Services Tax - GST
OIDAR services taxability: reverse charge and foreign supplier compliance challenges require improved tracking and registration.
OIDAR services delivered electronically are taxable under IGST with place of supply at the recipient's location subject to specified exceptions. If the Indian recipient is registered, tax is payable by the recipient under the Reverse Charge Mechanism; if unregistered, the nonresident supplier must register under the simplified REG 10 scheme or appoint a representative to pay IGST. Cross border record opacity and scale hinder identification and verification of supplies, prompting proposals for tech tracking, amended returns and audit disclosures to improve compliance. (AI Summary)
Goods and Services Tax - GST
Zero-rated supplies: SEZ relief limited to authorised operations; duty-paid export refunds restricted to notified cases, refunds linked to foreign remittance
The 2021 Budget amendments refine zero-rated supply rules by restricting SEZ zero-rating to supplies for authorised operations, allowing input tax credit for zero-rated supplies even if exempt (subject to CGST Act limits), permitting refund of unutilised ITC under bond/LUT with repayment and interest if export proceeds are not realised within FEMA timelines, and empowering the Government to notify classes of persons or goods/services that may export on payment of IGST and claim refunds. (AI Summary)
Goods and Services Tax - GST
Anti profiteering powers expanded; limitation on scope of investigation may protect suppliers from broadened probes pending review.
Section 171 and Rules 126/133 empower an anti profiteering mechanism to require passing on tax reductions and to prescribe methodology and procedure; a 2019 amendment authorised suo moto investigations, added a specific penalty provision, and extended the investigation period. For periods predating the amendment, courts have constrained authorities from probing products beyond the complaint, and interim reliefs have been granted where broader data demands or expanded product range scrutiny were challenged. (AI Summary)
Goods and Services Tax - GST
Export valuation cap restricts export value relative to domestic like goods, limiting refund of unutilised input tax credit.
The amendment adds a valuation constraint to the Rule 89(4) refund formula for unutilised Input Tax Credit on zero-rated exports without payment of tax: turnover of zero-rated supply used in refund computation is now limited to the lesser of the declared export value and a capped value derived from the value of like goods in the domestic market supplied by the same or a similarly placed supplier. The change applies only to goods exported without payment of tax, is prospective to the notification, and raises questions on comparability, unit versus aggregate measurement, and timing of valuation. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
04 Feb 2022 
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