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Offences under GST

Saket Mohta

When has anyone committed an offence under GST? There are several offences under GST. For easy understanding, I have grouped them as- 1. Fake/wrong invoices A) A taxable person supplies any goods/services without any invoice or issues a false invoice. B) He issues any invoice or bill without supply of goods/services in violation of the provisions of GST. C) He issues invoices using the identification number of another bonafide taxable person 2. Fraud A) He submits false information while registering under GST. B) He submits fake financial records/documents or files fake returns to evade tax. C) Does not provide information/gives false information during proceedings 3. Tax evasion A) He collects any GST but does not submit it to the government within 3 months. B) Even if he collects any GST in contravention of provisions, he still has to deposit it to the government within 3 months. Failure to do so will be an offence under GST. C) He obtains refund of any CGST/SGST by Read More

All to know about GST Returns

Saket Mohta

*DIFFERENT TYPES OF RETURNS TO BE FILED BY A REGISTERED NORMAL TAX PAYER IN GST REGIME* *1. GSTR 1* - This consists of all the details of the sales made during a particular month alongwith the tax figures, HSN Codes and No of Vouchers Issued *2. GSTR 2* - This return consists of the purchase vouchers which the seller has not shown in his/her GSTR 1 which inturn is not flashing in your GSTR 2A, Those missing invoices has to be uploded in GSTR 2 from the end of the buyer for a buyer-seller reconciliation. Features of this return is same as GSTR 1 in other words you can say that you are filing the GSTR 1 of the seller in your own portal to be on the safe-side for the ITC claimed thereto *GSTR 3B* - This return consists of only the tax figures of ITC claimed in inward supplies (purchases) in Table 4 and Tax-payable in outward supplies (Sales) in Table 3.1. This also includes inward and outward supplies liable to reverse charge for both inward and outward supplies *Important Read More

Outcomes of 32nd GST Council Meet

Saket Mohta

Outcome of 32nd GST Council Meet *1. Threshold limit increased to 40 Lakhs* Effective April 1, the GST exemption threshold has been raised from Rs 20 lakh to Rs 40 lakh. For hilly states and those in the North East, the threshold has been doubled to Rs 20 lakh. Earlier in a press talk FM said it will increase to 50lakhs, but it is increased to 40lakhs only. *2. Power to states* Now states will be able to choose if they want to keep the GST exemption limit at Rs 20 lakh or Rs 40 lakh, Jaitley said. *3. Composition limit increased to 1.5Cr from the present 1 cr* The existing Composition Scheme turnover threshold raised to Rs 1.5 crore. Those who use the scheme from April 1,2019 *4 Quarterly payment and Annual Return* Now Composition tax payers will pay tax quarterly, but file returns annually. *5 Composition scheme for services* Those providing services or mixed supplies (goods and services) with a turnover up to Rs 50 lakhs will now be entitled to avail Read More

Adultery No More a Criminal Offence; Section 497 of Indian Penal Code -Then and Now

Shreyash Mohta

WHAT IS ADULTERY? Adultery is a voluntary consensual relationship between a married individual and someone who is not his/her lawful spouse. Adultery is considered as legally wrong and is a punishable offense. The act of adultery is a crime which breaches the marriage vows and is detrimental to public morals. It is regarded as illegal in some countries and certain laws have been passed to keep a check over adultery. Although adultery is not a criminal offense, it may have legal consequences and the individual concerned may be penalized and punished especially if the case is pertaining to divorce. History: In ancient Greece and Roman world, there were harsh laws against adultery but these were applicable only if the female was married. But these laws were not relevant if a man maintained sexual relationship with a slave or an unmarried female. The Bible too forbids adultery and the seventh commandment clearly states this. In customary Judaism, both the parties were equally Read More

Mutual Divorce in India [Everything you need to know]

Shreyash Mohta

What is Mutual Divorce? To start of with knowing about what mutual divorce is all about let us first understand what is mutual divorce and what exactly does it mean. Mutual Divorce is when both the spouses [Husband and Wife] agree that they are unable to live together and the best solution for them is to get separated by way of a divorce, decided by them mutually and both the parties have consented to the same. They then present a mutual divorce petition jointly before the honourable court, having jurisdiction, without putting any allegations on each other. For example, if a married couple have been living separately for a period of 1year or more and that they are unable to live any further, and they have come to a mutual conclusion that their marriage has totally collapsed and that in no way can this be mended or made good, they can be granted divorce. Research says that one of the fastest ways of being granted a divorce in India is through mutual consent as other options linger Read More

Maintenance and Welfare of Parents and Senior Citizens – The Law, Provisions and Effects.

With the changing scenario of our society wherein the incidences of children leaving the old parents unattended are increasing, the lawmakers thought that it was pertinent to have a law enacted to safeguard the old and senior citizen during their sunset period of life. Since the senior citizens, mostly, are not capable of generating any income for themselves and thus if not taken care by the children and family members can be forced to lead a life of pauper, hence there was a need to make laws under which the parents and senior citizens can claim and ask for maintenance from their children. Keeping that in the mind the legislators enacted THE MAINTENANCE AND WELFARE OF PARENTS AND SENIOR CITIZENS ACT in the year 2007. This Act and its provisions are welcome step and thus it created a bedrock ground for all the neglected and suffering parents to knock the doors of the justice of temple and seek the right of life by asking for maintenance from their children. Keeping the state, Read More

Age limit for Lawyers to be enrolled with Bar Council for Practice- Supreme Court quashes the rule limiting the age at 45 years.

The Supreme Court of India quashed the petition by the Bar Councils wherein the Bar Councils wanted to impose an age limit of 45 years for enrolling as an Advocate to pursue the career of legal practitioner. The Bar Council argued that the rule was enacted to protect the interest of the Advocates and to ensure the upkeep of the professional standards. The Council also raised a point that it helped in maintaining the uniformity in the profession across the states. The Apex Court while deliberating on the matter observed, “How can this be done? Lot of people enroll as lawyers after retirement or after their resignation. In fact, I know about one person in Karnataka who was under suspension and he started practicing law. He turned out to be one of the best lawyers in the state. These things do happen" The Bench also observed that the Parliament did not fix any upper age limit for pursuing the LL.B. course and degree and therefore by restricting the degree holders with age more Read More

Basic Rights of Individuals on Property and the Laws related to it.

Basic Property Rights of Individuals   With acquisition of Property though nowadays it is a status symbol and the society judge a Human Being with the market value of a properties which an individual possesses, certain legal problems also arise during, on or after acquisition of property. Today India is obsessed and confused with Inheritance and Rights of a married woman on her father’s property. Laws regarding this issue has changed frequently with regular amendments and orders by our Apex Court. The above topic is just an example of complexity of Indian Laws in regards to property and its inheritance. There are certain various other topics which a person has to face when dealing with inheritance and acquisition of property as discussed below.   Rights of a married woman on her father’s property. Article 14 of the Indian Constitution mandates equality among all citizens, But the Hindus, Muslims & Christians are governed by their own personal laws Read More

IT Contracts and Sweep Clauses

Sweep Clauses are called so, because they, like a broom, sweep in more responsibilities for a service provider. More than what they actually intend to deliver. Sweep clauses are like icebergs. What we see in the SOW and Schedules are just the tip of the iceberg and while actual delivery the real matters come out.   As with an iceberg so with the sweep clauses too, the Service provider meets with an eminent danger of delivering more than it can thus causing financial losses and sinks the revenue ship for that deal.  One has to really be cautious while preparing the SOW and Schedules for Service Agreement or else will end up with a sinking ship. What role does a Sweep clause play? Certainly, it does not play a positive role in regard to a service contract that we have in place. Initially it does bring all those items to our plate which we did not agree to deliver. And in the process of delivering the agreed and not agreed deliverables we start straining our Read More

Financial Concepts for Inhouse Legal Counsel and Contract Manager

Chapter 1 - Introduction Lesson 1- Finance and it’s role. Business is all about money and money in business terms are euphemistically called as Finance which is nothing but better and sophisticated version of money. Actually, Finance has a bigger and more complex meaning and role than money. Money is just a nominal value or a unit of transaction whereas Finance is money plus management of money. The moment management gets associated with money it means the complete detail of money involved in a transaction, its history, present and future interpreted in multiple ways, ratios and features. Anh business person must have, to a certain degree, the understanding of finance as it helps in making big and small business decisions. Regardless of which department a person belongs to, he or she need to have a fair knowledge and understanding of some important concepts of Finance. And this hold true for lawyers as well, especially the lawyers who are employed with corporates as Read More

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