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Sakshi Srivastava

Sakshi Srivastava
About Sakshi Srivastava

Sakshi has pursued B.B.A.LL.B.(IPR Hons.). She is an avid reader and is keen to gather and share her knowledge on the subjects relating to IPR, Company Law and GST. Priorly she has worked as a legal researcher and vide her articles she aims at improving the core knowledge of the subjects to the masses.

Consequences for Non-Filing of GST Return

As per Section 46 of CGST Act, 2017 read with Rule 68 CGST Rules 2017, a notice in FORM GSTR-3A is issued to any registered person who fails to file annual return (defaulter) requiring them to provide such return within 15 days. Further, Section 62 offer assessment for non-filing of GST return of registered persons who fails to provide […]

An Overview of Blocked ITC under GST

Uninterrupted and smooth chain of ITC is one of the key features of Goods and Services Tax. ITC is a method to avoid cascading effect of taxes. In a simple language it is known as tax on tax. However, section 17(5) of CGST Act, 2017 specifies certain Goods and Services as Blocked credit. Blocked ITC […]

Inverted Duty Structure under GST

Inverted Duty Structure is a situation where the tax rate on inputs is higher than tax rate on output supplies. Inverted duty structure under GST usually results in increase of excess tax credit and cascading cost, therefore it is the need of hour to optimize the arousal of refunds in the platform. As per Section […]

Analysis: Is India ready for Third Party Litigation Funding?

The boom in litigation cost has led to emergence of Third Party Litigation Funding in India. A third party who separately provides funds to parties for a dispute in exchange for a portion of monetary compensation that is recovered from the proceedings is called Third-Party Litigation Funding. Litigation Funding by any third party involves funding […]

Implementation of GST in place of VAT in Indian Economy

Indian Economy is one of the economies that spend a huge sum of money towards tax paid. GST had combined all the indirect taxes together and made one tax. It is applicable from the beginning of manufacturing till the end in order to maintain uniformity among the system. Implementation of GST can bring the central […]

Lok Sabha passes Companies (Amendment) Bill, 2020

The Lok Sabha on 19th September, 2020 has passed The Companies (Amendment) Bill, 2020 that decriminalizes several compoundable offenses. It also allows direct listing of Indian companies on Foreign Stock Exchanges and withdraws the criminal provisions in the Companies Act for violations of provisions of CSR rules. It also promotes ease of doing business. In […]

Supreme Court Recommends Comprehensive System of Advance Tax Ruling to Reduce Litigation

The two-judge bench led by S.K. Kaul and Indu Malhotra recommends the Central Government to consider the effectiveness of the Advance Tax Ruling system. It is also to make it more comprehensive and vibrant tool for settlement of disputes rather than battling it through different stage, whether public or private sectors are involved. Note: The […]

Implementation of Delinking Credit/Debit Notes on the GSTN Portal

The De-linking of new invoices and credit and debit notes are registered under the GSTN portal. The same was amended in CGST amendment Act, 2018 with the effect from February 1, 2019. Still, the same is registered on September 14, 2020, on the portal. After more than 1.5 years of the amendment in Section 34 […]

All about Documents Required for TDS Return filing

Tax Deducted at Source is the advanced tax paid by any person or entity for making expenses, expenses of professional fee, interest, salary, dividends and royalty amongst others as per prescribed tax slabs by the government. TDS return filing assists the government to prevent tax evasions. In this blog, we will discuss everything about the […]

List of Goods and Services where GST is Applicable: Latest Rates

The Authority of Advance Ruling has specified various goods and services where GST is Applicable or not. Following are the Goods and Services- 18% GST chargeable on Micro-manipulator System The Gujarat Authority of Advance Ruling (AAR) ruled on 2nd July 2020 that 18% GST is Applicable on the Micromanipulator system with retrospective effect from November […]

Overall Guide on Section 7 Schedule 1 of the CGST Act

Section 7 Schedule 1 of CGST Act talks about the Activities to be treated as Supply even if made without consideration. The supply made between any related persons for inadequate or no Consideration is covered under Schedule I of the GST Act. Such transactions will be treated as ‘Supply’ only if it happens in furtherance […]

Government to Levy 5% TCS on Foreign Remittances

According to the Finance Act 2020, funds sent overseas under the Reserve Bank of India’s liberalized remittance method are subject to 5% TCS on Foreign Remittances subject to riders. The Government has presented some carve-outs so that not every foreign remittance will be a subject to Tax collected at Source. Those who are making Foreign […]

TDS Applicable on Payments made to E-Commerce Operators

The Finance Act, 2020 has established a new Section 194-O that elaborates on levying 1% Tax Deducted at Source on Payments made to E-Commerce operators that will be applicable for the transactions from 1st October 2020. In this blog, we will talk about TDS Applicable on payments made to E-commerce operators. Section 194-O should be […]

All about Benefits of TDS Return Filing in India

Tax Deducted at Source (TDS) is the advanced tax paid by any individual or entity for making payments, payments of professional fee, interest, salary, dividends and royalty among others as per prescribed tax slabs by the government on behalf of the payee. TDS return filing helps the government to prevent tax evasions. In this blog […]

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