Publications - 2018
Tax Bulletin - 7th Edition - December 2018
This year, approaching December involves gearing up for de novo GST Annual Return and Audit which needs to be finalized by December 31, 2018. While extension of timeline cannot be denied as a possibility, our endeavor at all times should be to be prepared and march toward a successful closure of 2018. This herculean task requires trade, industry and GST practitioners to ensure that they are abreast with all the latest developments and updates on the taxation front.
Read MoreTax Bulletin - 6th Edition - November 2018
For us, October 2018 has been embedded as a milestone in our journey as we have moved to our new office in Civil Lines, Nagpur. We take this opportunity to thank you once again for being a part of our journey!
Read MoreTax Bulletin - 5th Edition - October 2018
September 2018 was a month which brought in multiple GST amendments and also notified the formats for Annual Return, GST Audit along with intimation of implementation of GST TDS and TCS provisions. Throughout this month, we at Vijaywargi Khabiya & Saoji ('VK&S’) were occupied in finalizing the books of our clients and performing the audit function.
Read MoreTax Bulletin - 4th Edition - September 2018
August 31 was a time when we at Vijaywargi Khabiya & Saoji ('VK&S’) were occupied in preparing and uploading Income Tax returns of clients within the extended due date to avoid newly introduced penalty. Also, parallelly going on is the audit function which is marching towards climax. Amidst all this, there is anxious atmosphere amongst the trade, industry and GST practitioners to close the first financial year of GST [i.e. FY 2017-18 comprising of 9 months], in the smoothest possible way.
Read MoreTax Bulletin - 3rd Edition - August 2018
We at Vijaywargi Khabiya & Saoji ('VK&S') have resolved to develop a routine of periodic updates summarizing the latest key tax developments in a short, easy-to-read format. With the multiple changes suggested during the meeting of the GST council held on July 21, 2018, it is important to keep ourselves and all our clients updated with every crucial development and date of implementation of suggested amendments.
Read MoreTax Bulletin - 2nd Edition - July 2018
The entire nation celebrated on July 1, 2018, first anniversary of GST, the biggest tax reform post independence. A summary analysis of this one year of GST as to whether it is ‘good’, ‘bad’ or ‘ugly’, tells us that, it is ‘ugly’ only for the reason that it is a ‘tax’, it is ‘bad’ only for the fact that it is not merely a tax legislation which is policy driven rather it is technology and process driven right from day one, barring this everything else is ‘good’ about GST.
Read MoreTax Bulletin - 1st Edition - June 2018
Ever since the Goods and Services Tax ('GST') has been introduced w.e.f. July 1, 2017, radical changes have been made by the GST Council aiming at reducing the tax burden or easing out the operational functioning of the tax structure. In fact, it was recently announced that several amendments of GST law are likely to be placed before the Parliament in the monsoon session. The advent of GST has restricted the benefits under the Foreign Trade Policy ('FTP') by and large to Customs duties only, however, with subsequent amendment to the FTP the benefits have been extended to the levy of GST with little shelf life. Further, Direct Tax is ever evolving and the plethora of judicial rulings have always given us interpretational perspective.
Read More