Zsassociates

Zsassociates We solve your tax related problems.

25/03/2023

GST law in India is complex and to an extent ambiguous, and we have seen that businesses have suffered due to lapses made in assessment and other compliances.

24/03/2023

The Finance Bill proposes to do away with GST on merchant trade, in-bond sale and high sea sales. But by not refunding the tax collected under these categories, the government is opening another can of worms.

21/03/2023

As part of FY 2023-24 Budget proposals, the Union Finance Minister has recommended restricting ITC on goods or services used for meeting the CSR obligation. Experts say this may have adverse impact on CSR benefits.

07/02/2023

The levy of tax on Online information and Database Access Service (OIDAR) was introduced in India in 2001 under the erstwhile service tax regime and in 2016 the ambit of services was widened to include several digital services into the tax fold.

06/02/2023

GST compliances which were envisaged to be easier and less complex, have turned out to be a compliance nightmare with multiple and frequent changes in the tax returns and reporting requirements.

03/02/2023

This has resulted in a significant spurt in the issue of show-cause notices on taxpayers without any intervention of the tax officers, but solely basis information available on the GSTN, automatically.

30/01/2023

Even in cases of streamlined audits, taxpayers are asked to furnish certain information which is already available with tax authorities such as returns (monthly and annual), DRC-03 challans, etc.

24/01/2023

Under GST, disputes arise from differences in tax paid by the assessees and the computation of tax liability by authorities.

11/01/2023

While the term ‘business has been defined under the Central Goods and Services Tax Act, 2017 (the CGST Act), there is no definite yardstick to find out whether an activity is carried out ‘in course or furtherance of business.

06/12/2022

In the initial years, people struggled in understanding the impact of the new regime on their businesses, getting their internal systems revamped and training personnel to undertake the requisite compliances.

05/12/2022

To promote ease of doing business for small businesses and clearly distinguish between minor offenses and willful evasion of duty, government is initiating one of the major overhauls of the GST provisions after 5 years.

02/12/2022

"The government has settled ₹33,997 crore to CGST and ₹28,538 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2022 is ₹59678 crore for CGST and ₹61189 crore for the SGST. In addition, Centre had also...

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