Siddhant Pathak became a Chartered Accountant in November 2016 and completed his LLB in 2018. He is also an alumnus of Delhi University. Immediately after qualifying as a Chartered Accountant, Siddhant joined CA Ashok Batra (Rajouri Garden, Delhi), a nationally renowned Indirect Tax practitioner and author. Under his mentorship, Siddhant gained invaluable experience in advising clients on Indirect Taxation, particularly in Service Tax and the newly introduced GST.
Currently, Siddhant leads the Indirect Tax practice at M/s. S Pathak & Associates, a firm established by his father in 1996, located at Sagar Apartments, Delhi - 1 (Opp. Supreme Court). The firm specializes in Direct and Indirect Taxation, as well as FEMA (Foreign Exchange Management Act).
In addition, Siddhant is an active speaker on GST at various professional forums, including branches and study circles of the Northern India Regional Council (NIRC) and Central India Regional Council (CIRC) of the Institute of Chartered Accountants of India.
With over 7 years of experience in Indirect Taxes, Siddhant advises and represents multiple corporates and business houses. He is also empaneled as an Indirect Tax consultant with prominent Public Sector Undertakings (PSUs), including Delhi Metro Rail Corporation (DMRC) and Punjab National Bank (PNB).
He has also authored articles published in professional journals and digital forums, sharing his expertise in the field.
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Post-sale discounts excluded from taxable value if credit note issued and recipient reverses ITC under GST.
Post-supply discounts will be excluded from taxable value if the supplier issues a credit note and the recipient reverses the attributable input tax credit under section 34; Section 34(1) is amended to make such discounts an express ground for credit-note issuance. Provisional refund scope is expanded to include unutilised input tax credit from inverted duties and export refunds below the monetary threshold are payable for taxed exports. A transitional clause permits existing authorities to hear advance-ruling appeals until the national appellate body is constituted. The special place-of-supply rule for intermediary services is omitted, bringing intermediaries within the general recipient-location rule and triggering reverse charge for inbound intermediary services. (AI Summary)
Budget - Tax Proposals
Input Service Distributor scope expanded to cover reverse charge and inter state supplies, clarifying ISD compliance and credit distribution.
Amendments expand the Input Service Distributor framework to include reverse charge services under the Integrated GST Act and mandate ISD registration and credit distribution for inter state and intra state reverse charge supplies; introduce a statutory track and trace regime by defining unique identification marking with affixation, electronic storage, reporting, and associated penalties for contraventions; clarify voucher non supply treatment and restrict output tax reductions via credit notes unless corresponding input tax credit has not been availed or reversed; and adjust return statement provisions and appeal pre deposit requirements. (AI Summary)
Goods and Services Tax - GST
Unified Adjudication Limitation centralises GST demand timelines and standardises penalties and procedural timelines.
A new unified adjudication regime under Section 74A applies from Financial Year 2024 25, replacing the bifurcation of Sections 73 and 74 for future periods by prescribing a single limitation period for issuance of show cause notices and orders, tiered penalties distinguishing bona fide and mala fide cases, and procedural timelines. The Bill also excludes undenatured extra neutral alcohol used for manufacture of alcoholic liquor from central tax, inserts retrospective limited relief for Input Tax Credit claims for early years, empowers regularisation by notification for prevalent industry practices, and clarifies reverse charge/self invoice, appellate pre deposit caps, anti profiteering jurisdiction and insurance premium apportionment. (AI Summary)
Goods and Services Tax - GST
GST composition eligibility expanded, with ITC reversal rules tightened and procedural limits on returns and prosecutions.
Finance Act, 2023 expands the Composition Scheme to include suppliers of goods via e commerce, clarifies that unremitted payment within 180 days requires reversal/repayment of ITC with interest under Section 50(3), and mandates inclusion of warehoused goods sold pre clearance in the exempt supply base for common ITC reversal. ITC is blocked for CSR activities. Procedural limits include a three year bar on filing certain returns and revised timelines for revocation of cancelled registration and best judgment assessment. Offence thresholds and compounding rules are revised; export, SEZ, OIDAR, and place of supply rules are also amended. (AI Summary)
Goods and Services Tax - GST
Input Tax Credit protection: recipients shielded from denial without proof of supplier collusion, subject to buyer's evidentiary burden.
The Calcutta High Court held that Input Tax Credit cannot be denied solely due to retrospective cancellation of a supplier's GST registration; denial requires proof of the recipient's connivance or collusion. The decision aligns with prior precedents that a supplier's failure to remit tax does not automatically defeat a recipient's ITC claim absent evidence of dishonest participation. Concurrently, the Supreme Court requires the buyer to meet an evidentiary burden to prove transaction genuineness and receipt of goods, creating a dual framework allocating proof obligations between the tax department and the buyer. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
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05 Feb 2026 
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