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The GSTR 9 and GSTR 9C return submitting and its significance, authorized provisions of the annual return and the issues being confronted by the taxpayers whereas filling GSTR 9 and 9C returns for 2022-23, for which the deadline for submitting is thirty first December 2023, have been among the many a number of points which have been deliberated on the twenty third version of Information Collection on GST organised by PHDCCI right here on twenty seventh December at PHD Home.
Chairman of the Oblique Tax Committee and Accomplice, AK Batra and Associates, Mr. Ashok Kumar Batra lauded the exemplary efforts of the Chamber in demystifying the complicated problems with oblique taxes for widespread man and organising month-to-month seminars on the topic. He spoke in regards to the two kinds of GST returns and their applicability, the exemptions which can be obtainable beneath the 2 and the right strategies of submitting them.
Among the many consultants who participated within the seminar have been Mr Tushar Aggarwal, Co-Chair of the Oblique Tax Committee and Co-Founder, Tattvam Advisors; Mr Shivam Mehta, Director, Lakshmi Kumaran & Sridharan; Mr Kulraj Ashpanani, Accomplice, Dhruva Advisors; Mr. Yogesh Gaba, Managing Accomplice, GABA & Co. and Ms. Prerna Chopra, Affiliate Accomplice, BDO India.
Mr Aggarwal spoke in regards to the situation of blocked credit beneath GST, Enter Tax Credit score (ITC) on gross sales promotion actions and presents and different schemes. He went into the small print of the character of ITC i.e., whether or not it’s a concession or a proper as additionally the provision of ITC on development of factories and places of work.
Mr Mehta gave a presentation on taxability of reductions and incentive schemes, newest investigations on varied schemes, totally different circumstances for reductions from values, vendor incentive schemes, retail incentive schemes and issuance of GST credit score notes.
Mr Ashpanani targeted on assessments beneath GST, drafting of replies to evaluation notices and the rules and precautions to watch out about, scrutiny of return u/s 61 of CGST Act, division audit u/s 65 of CGST Act, and particular audit u/s 66 of CGST Act.
Mr Gaba handled the problem of GST relevant on on-line video games; penalties beneath part 122 & part 74 and the affect of GST on e-commerce trade. He spoke in regards to the worth of provide of on-line video games together with provide of actionable claims concerned in on-line cash video games.
Ms Chopra’s presentation was on summons, search and seizures beneath GST; key provisions for summons and key factors to concentrate on by taxpayers for dealing with of summons.
A extremely common Information Collection of PHDCCI, it has benefitted over a thousand members since its begin in 2021.Among the many firms which have been related to PHDCCI’s Information Collection on GST are Khaitan & Co; A2Z Tax Corp LLP; Athena Legislation Home; Nitya Tax Associates; Finjuris; Institute of Firm Secretaries of India (ICSI); Institute of Value Accountants of India (ICMAI); Taxmann India; CA Membership India and TIOL; and was supported by PHDCCI’s annual sponsors: DLF Ltd, Jindal Metal & Energy, KLJ Group, Multani Prescribed drugs Ltd, Marble Metropolis, MMG Group, Radico Khaitan Ltd, Uflex Ltd, Vestige, Eazy ERP Applied sciences, JK Tyre & Industries Ltd, Sagar Group of Industries, Superior Industries Restricted, Samsung India Electronics, Oswal Greentech, Apeejay Stya Group, Blossom Kochhar Magnificence Merchandise Pvt Ltd, DCM Shriram, R E Rogers, Trident Group, Ajit Industries Pvt Ltd, Bhagwati Plastic and Pipes Industries, Central Coalfields Ltd, DD Pharmaceutical Ltd., Hindware Sanitary, Jindal Metal, Fashionable Cars, and P S BEDI & Co.
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