Goods and Services Tax – GST – By: – Kumar Kedia – Dated:- 5-2-2019 Last Replied Date:- 25-2-2019 – The Government notifies the applicability of the following acts from 1st February 2019:- CGST (Amendment) Act, 2018 vide notification 2/2019- CGST dated 29.01.2019 IGST (Amendment) Act, 2018 vide notification 1/2019 – IGST dated 29.01.2019, UTGST (Amendment) Act, 2018 vide notification 1/2019- UTGST dated 29.01.2019 GST (Compensation to States) Amendment Act, 2018 vide notification 1/2019- GST Compensation Cess Government also notified the corresponding changes in the rules through CGST (Amendment) Rules 2019 vide notification 3/2019- CGST. It was apprised by the notification that few amendments made by the Acts shall not be made applicable from 01-02-2019 which included the provisions related to new return system and the corresponding changes thereby. We can say that Government has taken few major steps in making GST a Good and Simple Tax for the business but still there are lot more c
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;. services provided by activities of a race club including by way of totalisator or a license to book maker or activities of a licensed book maker in such club; and ….. Analysis:- The amendment is made to confirm that all the activities related to race club are included in the definition of business. Section 2(18)-Definition of Business Vertical business vertical means a distinguishable component of an enterprise that is engaged in the supply of individual goods or services or a group of related goods or services which is subject to risks and returns that are different from those of the other business verticals. Explanation.-For the purposes of this clause, factors that should be considered in determining whether goods or services are related include- (a) the nature of the goods or services; (b) the nature of the production processes; (c) the type or class of customers for the goods or services; (d) the methods used to distribute the goods or supply of services; and (e) the nat
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onsidered local authority. The article is inserted in the Constitution for the development of backward areas of Hyderabad-Karnataka region. Section 2(102)-Definition of Service services means anything other than goods, money and securities but includes activities relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another form, currency or denomination for which a separate consideration is charged; Explanation.-For the removal of doubts, it is hereby clarified that the expression services includes facilitating or arranging transactions in securities. Analysis:- The terms money and securities are excluded from the definition of goods and services as per CGST Act, 2017. However, activities relating to use of money are covered in the definition of services as per CGST Act. But now explanation is inserted to give the clarification that facilitating or arranging transactions in securities such as service charge, broking ch
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ate Legislature; or (ii) established by any Government, with ninety per cent. or more participation by way of equity or control, to carry out any function entrusted to a Panchayat under article 243G or to a municipality under article 243W of the Constitution; Analysis:- Government added the reference to Panchayat under article 243G in meaning of Governmental authority Amendment in the Scope of Supply Section 7(1) and 7(3)- Scope of Supply (1) For the purposes of this Act, the expression supply includes- (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business; (b) import of services for a consideration whether or not in the course or furtherance of business and; (c) the activities specified in Schedule I, made or agreed to be made without a consideration (d) the activities to be treated as supply of goods or supply o
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7(1) to remove Schedule II from the definition of Supply. Further Sub-section (1A) to Section 7 was inserted to state that transactions listed in Schedule II will only be taxed when they constitute supply as per sub-section 1 of Section 7. Corresponding change have been made in sub section 3 of Section 7 This amendment shall be deemed to have been applied from 1-7-2017 i.e. retrospective amendment. Schedule I- Supply made without consideration 1…. 2…. 3… 4. Import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business. Analysis:- This amendment is made to cover even the unregistered persons who import the services from a related person or his other establishment outside India without any consideration in the ambit of GST and such entities shall be liable to tax. Heading of Schedule II ACTIVITIES OR TRANSACTIONS TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES Analy
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goods from Non taxable territory to Non Taxable territory directly) Sale of imported warehoused goods i.e. before payment of custom duty. High Seas Sales i.e. Sale after dispatch from port outside India but before reaching the destination port in India. Further, section 17(3) is amended to provide that no reversal of common credit shall be required in relation to any transactions listed in Schedule III. Reverse Charge Section 9(4)- Reverse Charge in case of procurement from Unregistered person (4) The central tax in respect of the supply of taxable goods or services or both by a supplier, who is not registered, to a registered person shall be paid by such person on reverse charge basis as the recipient and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to the supply of such goods or services or both. (4) The Government may, on the recommendations of the Council, by notification, specify a class of registered pe
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eding financial year did not exceed fifty lakh rupees, may opt to pay, in lieu of the tax payable by him under sub-section (1) of section 9, an amount of tax calculated at such rate as may be prescribed, but not exceeding,- (a) one per cent. of the turnover in State or turnover in Union territory in case of a manufacturer, (b) two and a half per cent. of the turnover in State or turnover in Union territory in case of persons engaged in making supplies referred to in clause (b) of paragraph 6 of Schedule II, and (c) half per cent. of the turnover in State or turnover in Union territory in case of other suppliers, subject to such conditions and restrictions as may be prescribed: Provided that the Government may, by notification, increase the said limit of fifty lakh rupees to such higher amount, not exceeding one crore rupees one crore and fifty lakh rupees, as may be recommended by the Council. Provided further that a person who opts to pay tax under clause (a) or clause (b) or clause (
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crease from 1- April-2019. Prior to amendment, a composition dealer was not allowed to supply services (other than restaurant services). However, this amendment allows supply of services (other than restaurant services) to the limit of 10% of the turnover in a State/ Union Territory in the preceding year or ₹ 5,00,000 whichever is higher. Corresponding changes have been done in the form GSTR-4 to give effect to supply of services by a composition dealer. However, it should be clarified that this limit is for the supply of taxable services whereas the supply of exempt service along with supply of goods or restaurant service is already allowed by the order no 1/2017 dated 13.10.17. It should also be clarified that whether inter-state supply of service is allowed under this amended scheme. Rule 7- Rate of tax of Composition levy Sl. No. Category of registered persons Rate of tax (1) (2) (3) 1. Manufacturers, other than manufacturers of such goods as may be notified by the Government
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ice by the supplier or the last date on which he is required, under sub section 1 of section 31, to issue the invoice with respect to the supply; or (b) the date on which the supplier receives the payment with respect to the supply: Provided that where the supplier of taxable goods receives an amount up to one thousand rupees in excess of the amount indicated in the tax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be the date of issue of invoice in respect of such excess amount. Analysis:- This amendment is in the view to correct the drafting error to include issue of invoice or other documents contained in section 31 such as in case of continuous supply, goods sale on approval basis etc. for the purpose of time of supply Section 13(2)- Time of Supply of Services The time of supply of services shall be the earliest of the following dates, namely:- (a) the date of issue of invoice by the supplier, if the invoice is issued wit
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f time of supply. Input Tax Credit Section 16(2)(b)- Conditions for availing ITC (2) Notwithstanding anything contained in this section, no registered person shall be entitled to the credit of any input tax in respect of any supply of goods or services or both to him unless,- (a) he is in possession of a tax invoice or debit note issued by a supplier registered under this Act, or such other tax paying documents as may be prescribed; (b) he has received the goods or services or both. Explanation.-For the purposes of this clause, it shall be deemed that the registered person has received the goods or, as the case may be, services- (i) where the goods are delivered by the supplier to a recipient or any other person on the direction of such registered person, whether acting as an agent or otherwise, before or during movement of goods, either by way of transfer of documents of title to goods or otherwise; (ii) where the services are provided by the supplier to any person on the direction of
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ragraph 5 of the said Schedule. Analysis An explanation is inserted to clarify that no reversal of common ITC shall be required on activities or transactions specified in Schedule III (other than sale of land and subject to clause (b) of paragraph 5 if Schedule II, sale of building) as it is now excluded from exempt supply. Section 17(5)-Blocked Credit (5) Notwithstanding anything contained in sub-section (1) of section 16 and sub-section (1) of section 18, input tax credit shall not be available in respect of the following, namely:- (a) motor vehicles and other vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the following taxable supplies, namely:- (A) further supply of such motor vehicles; or (B) transportation of passengers; or (C) imparting training on driving such motor vehicles; Analysis:- ITC is not available only in respect of motor vehicles used for transporta
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t of such services shall be available- (i) where the motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) are used for the purposes specified therein; (ii) where received by a taxable person engaged- (I) in the manufacture of such motor vehicles, vessels or aircraft; or (II) in the supply of general insurance services in respect of such motor vehicles, vessels or aircraft insured by him; Analysis:- No ITC shall be allowed for repairing, insurance service in relation to motor vehicles or vessels and aircraft unless they are used for the purposes specified in clause (a) and clause (aa) respectively. Also, ITC in relation to repairing, insurance service in relation to motor vehicles or vessels and aircraft shall be available to the manufacturer of such motor vehicles or aircraft or to the taxable person engaged in supply of general insurance services of such motor vehicles or vessels and aircraft. (b) the following supply of goods or services or both- (i) food and
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d person for making an outward taxable supply of the same category of goods or services or both or as part of a taxable composite or mixed supply; and (iii) travel benefits extended to employees on vacation such as leave or home travel concession: Provided that the input tax credit in respect of such goods or services or both shall be available, where it is obligatory for an employer to provide the same to its employees under any law for the time being in force. Analysis:- ITC in respect of food or beverages, beauty or cosmetic services, health services, life insurance, hiring of motor vehicles, aircraft and vessels shall be available where inward supply of such goods or services or both is used for making outward supply of same goods or services or both. Further, ITC in respect of food or beverages, beauty or cosmetic services ,health services, life insurance, hiring of motor vehicles, aircraft and vessels and travel benefits extended to employee shall be available where it is obligat
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p; (ii)…. (iii) the expression special category States shall mean the States as specified in sub-clause (g) of clause (4) of article 279A of the Constitution except the State of Jammu and Kashmir and States of Arunachal Pradesh, Assam, Himachal Pradesh, Meghalaya, Sikkim and Uttarakhand. Analysis:- This amendment is made to give effect to increase threshold limit in state of J&K, Arunachal Pradesh, Assam, Himachal Pradesh, Meghalaya, Sikkim and Uttarakhand from 10 Lakhs to 20 Lakhs. Section 24- Compulsory registration in certain cases (24) Notwithstanding anything contained in sub-section (1) of section 22, the following categories of persons shall be required to be registered under this Act:- (i)…….. (x) every electronic commerce operator who is required to collect tax at source under section 52 Analysis:- Now only those e-commerce operators who are required to collect TCS shall be required to take registration and others may take the benefit of threshold limi
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at a person having multiple business vertical places of business in a State or Union territory may be granted a separate registration for each such business vertical place of business, subject to such conditions as may be prescribed. Rule 11- Separate registration for multiple places of business within a State or a Union territory. 11….(Substituted) (1) Any person having multiple places of business within a State or a Union territory, requiring a separate registration for any such place of business under sub-section (2) of section 25 shall be granted separate registration in respect of each such place of business subject to the following conditions, namely:- (a) such person has more than one place of business as defined in clause (85) of section 2; (b) such person shall not pay tax under section 10 for any of his places of business if he is paying tax under section 9 for any other place of business; (c) all separately registered places of business of such person shall pay tax un
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arate registration for each place of business in case of multiple places of business within a state and hence substituted Rule 11 of CGST Rules and amended Section 25. It is clarified in Explanation to Rule 11 that if any place becomes ineligible for opting composition scheme, all other places shall also become ineligible for composition scheme. It is stated that a person opts normal/ regular scheme for one place of business than he cannot opt for composition scheme in any other place of business. Separate application in form REG-1 shall be submitted for each place of business and an amendment to give effect to this provision is also made in FORM REG-1 It is also provided that in case of branch transfers within state where branches have different registrations a proper tax invoice shall be raised. A person having SEZ unit or SEZ developer shall apply for separate registration from his place of business outside SEZ Area. This amendment is made by inserting second proviso to Section 25.
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clarified that the value of assets means the value of the entire assets of the business whether or not input tax credit has been availed thereon. (2) The newly registered person (transferee) shall, on the common portal, accept the details so furnished by the registered person (transferor) and, upon such acceptance, the unutilised input tax credit specified in FORM GST ITC-02A shall be credited to his electronic credit ledger. Analysis:- A registered person taking multiple registration in State if intends to transfer the ITC to the newly registered entity then he shall file the details of ITC to be transferred in FORM ITC 02A (newly inserted in Forms) within 30 days of obtaining separate registration. ITC shall be transferred in the ratio of value of assets held by those multiple entities at the time of registration. The newly registered person shall accept the details furnished by the transferor which will then reflect into the ITC ledger of newly registered person. Proviso to Section
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section 29 or under rule 21, he may, after affording the said person a reasonable opportunity of being heard, suspend the registration of such person with effect from a date to be determined by him, pending the completion of the proceedings for cancellation of registration under rule 22. (3) A registered person, whose registration has been suspended under sub-rule (1) or sub-rule (2), shall not make any taxable supply during the period of suspension and shall not be required to furnish any return under section 39. (4) The suspension of registration under sub-rule (1) or sub-rule (2) shall be deemed to be revoked upon completion of the proceedings by the proper officer under rule 22 and such revocation shall be effective from the date on which the suspension had come into effect. Analysis:- Proviso to Section 29(1) and 29(2) is inserted to provide that from the time when a person applies for cancellation of registration till the time such application is proceeded, the registration of th
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lied are found to be deficient, the registered person, who has supplied such goods or services or both, may issue to the recipient a credit note containing such particulars as may be prescribed. (2) Any registered person who issues a credit note one or more credit notes for supplies made in a financial year in relation to a supply of goods or services or both shall declare the details of such credit note in the return for the month during which such credit note has been issued but not later than September following the end of the financial year in which such supply was made, or the date of furnishing of the relevant annual return, whichever is earlier, and the tax liability shall be adjusted in such manner as may be prescribed: Provided that no reduction in output tax liability of the supplier shall be permitted, if the incidence of tax and interest on such supply has been passed on to any other person. (3) Where a tax invoice has one or more tax invoices have been issued for supply of
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and any combination thereof, unique for a financial year; (e) date of issue of the document; (f) name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient; (g) name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered; (h) serial number and date of the corresponding tax invoice or, as the case may be, bill of supply; (i) value of taxable supply of goods or services, rate of tax and the amount of the tax credited or, as the case may be, debited to the recipient (j) signature or digital signature of the supplier or his authorised representative. (1A) A credit or debit note referred to in section 34 shall contain the following particulars, namely:- (a) name, address and Goods and Services Tax Identification Number of the supplier; (b) nature of the document; (c) a consecutive serial number not exceeding sixteen characters, in one or multiple s
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her, Government amended Rule 53 to distinguish the mandatory requirements in the issue of Revised invoice and in the issue of debit note or credit note. Revised invoice can be issued in one month of registration for all supplies done from the date on which registration was applied till the date registration was granted. By separating the requirements for revised invoice and debit or credit note the requirement for nature of document in case of Revised invoice remains of no use and hence deleted. Also, the requirement for stating the taxable value, rate of tax, amount of tax credited or debited in case of Revised invoice remains of no use and hence deleted. However, new Sub-Rule (1A) was inserted to provide the mandatory requirements for the issue of credit note or debit note (As provided above). Detail of all invoices against which a single credit note or debit note has been issued shall be provided. Hence, a credit note or debit note shall still be linked with a single or multiple inv
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ts of local authorities under any law for the time being in force. Rule 80(3)-Reconciliation Statement Every registered person other than those referred to in the proviso to sub-section (5) of section 35, whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner. Analysis:- The insertion of Proviso to Section 35(5) and amendment to Rule 80(3) exempts the department of CG, SG or a local authority whose books are subject to audit by CAG or by an auditor appointed under any law, from the requirement of GST Audit. GST Practitioners Section 48(2)- GST practitioners (2) A registered person may authorise an approved goods and services tax practitioner to furnish t
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thdraw from the said scheme: Provided that where any application relating to a claim for refund or an application for amendment or cancellation of registration or where an intimation to pay tax under composition scheme or to withdraw from such scheme has been submitted by the goods and services tax practitioner authorised by the registered person, a confirmation shall be sought from the registered person and the application submitted by the said practitioner shall be made available to the registered person on the common portal and such application shall not be further proceeded with until the registered person gives his consent to the same Analysis:- The amendment in Section 48(2) and substitution of Rule 83(8) allows GST practitioners to perform many other functions as specified above such as furnishing of returns, filing of refunds, generation of e-way bill, cancellation of registration etc. It is also provided that if a GST practitioner either files claim for refund or an applicatio
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ted date i.e. 31st December, 2019. Payment of Tax Section 49(5)- Payment of Tax (5) The amount of input tax credit available in the electronic credit ledger of the registered person on account of:- (a)… (b)…. (c) the State tax shall first be utilised towards payment of State tax and the amount remaining, if any, may be utilised towards payment of integrated tax; Provided that the input tax credit on account of State tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax (d) the Union territory tax shall first be utilised towards payment of Union territory tax and the amount remaining, if any, may be utilised towards payment of integrated tax; Provided that the input tax credit on account of Union territory tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on acco
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used for the payment of IGST, CGST and SGST as the case may be subject to the condition that CGST and SGST cannot be cross utilised for the payment of tax. Section 49B- Order of utilisation of input tax credit Notwithstanding anything contained in this Chapter and subject to the provisions of clause (e) and clause (f) of sub-section (5) of section 49, the Government may, on the recommendations of the Council, prescribe the order and manner of utilisation of the input tax credit on account of integrated tax, central tax, State tax or Union territory tax, as the case may be, towards payment of any such tax. Analysis:- New Section 49B is inserted to provide that Government may decide the order of utilisation of ITC on account of IGST, CGST and SGST subject to the condition that CGST and SGST cannot be cross utilised. Point to be noted:- Reference of the new sections 49A and 49B have also been given in the Rules 85 and Rule 86 by way of amendment to give effect to the procedure of payment
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nomic Zone developer. Analysis:- Section 54(8) provides with the situations where Refund of Tax can be claimed by applicant without checking the principal of unjust enrichment. Principal of unjust enrichment means that no person can take refund of tax without actually bearing the incidence of tax. As GST is an indirect tax it is assumed that the incidence of tax is borne by the recipient of supply. Prior to the amendment, refund on the account of zero rated supply could be applied by person making such supply where zero rated supply means (i) Export or (ii) Supply to SEZ Unit or SEZ developer. Government is proposing to allow DTA unit to recover the tax amount from SEZ Unit or SEZ Developer and allow the ITC of the same to SEZ unit. Therefore, in this case SEZ unit will bear the tax burden, so, refund should be claimed by SEZ unit/ Developer. Hence, Government wants to apply principal of unjust enrichment on supply made to SEZ Unit or SEZ developer and therefore the Refund of tax will
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claim for refund arises. Rule 91- Grant of provisional refund (2) The proper officer, after scrutiny of the claim and the evidence submitted in support thereof and on being prima facie satisfied that the amount claimed as refund under sub-rule (1) is due to the applicant in accordance with the provisions of sub-section (6) of section 54, shall make an order in FORM GST RFD-04, sanctioning the amount of refund due to the said applicant on a provisional basis within a period not exceeding seven days from the date of the acknowledgement under sub-rule (1) or sub-rule (2) of rule 90. Provided that the order issued in FORM GST RFD-04 shall not be required to be revalidated by the proper officer. (3) The proper officer shall issue a payment advice in FORM GST RFD-05 for the amount sanctioned under sub-rule (2) and the same shall be electronically credited to any of the bank accounts of the applicant mentioned in his registration particulars and as specified in the application for refund. Pr
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applicant mentioned in his registration particulars and as specified in the application for refund. Provided that the order issued in FORM GST RFD-06 shall not be required to be revalidated by the proper officer: Provided further that the payment advice in FORM GST RFD-05 shall be required to be revalidated where the refund has not been disbursed within the same financial year in which the said payment advice was issued. Analysis:- Government inserted the proviso to Rule 92(4) to provide that in the case where refund is not disbursed order issued by officer in GST RFD-06 form for grant of refund under section 54(8) shall not be revalidated and only payment advice issued in FORM GST RFD 05 shall be revalidated if refund is not disbursed within same financial year in which said payment advice was issued. Rule 96A- Export of goods or services under bond or Letter of Undertaking (1) Any registered person availing the option to supply goods or services for export without payment of integrat
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gn with the above permission. Point to be noted: Same amendment has been made in the Explanation 2(c) of Section 54 to align it with RBI permission. Recovery of Tax Section 79(4)- Recovery of Tax (4) Where the amount recovered under sub-section (3) is less than the amount due to the Central Government and State Government, the amount to be credited to the account of the respective Governments shall be in proportion to the amount due to each such Government. Explanation.- For the purposes of this section, the word person shall include distinct persons as referred to in sub-section (4) or, as the case may be, sub-section (5) of section 25. Analysis:- Government inserted the explanation to Section 79(4) in order to ensure that recovery of tax can be made from the distinct persons present in different states/ UTs for fast recovery from other establishments of registered person. Appeals Section 107(6)- Appeals to Appellate Authority (6) No appeal shall be filed under sub-section (1), unless
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he disputed tax amount but subject to the ceiling limit of ₹ 25 Crore for filing the appeal to Appellate Authority. As per the amendment in Section 112(6) an appellant shall pay 20% of the disputed tax amount but subject to the ceiling limit of ₹ 50 Crore for filing the appeal to Appellate Tribunal. Changes are also made in the FORMS GST APL-01 and GST APL-05 in correspondence with the above changes Point to be noted: In correspondence of above amendment, A new proviso to Section 20 of IGST Act has been inserted to put a ceiling of 50 Crore for filing appeal to Appellate Authority and ₹ 100 Crore for filing appeal to Appellate Tribunal. Detention or Seizure of Goods Section 129(6)- Detention, seizure and release of goods and conveyances in transit (6) Where the person transporting any goods or the owner of the goods fails to pay the amount of tax and penalty as provided in sub-section (1) within seven days fourteen days of such detention or seizure, further proceeding
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hellip; Explanation 2.-For the purposes of sub-sections [(1)* (not yet notified)] and (5), the expression eligible duties and taxes means- (i)… (iv) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Textile and Textile Articles) Act, 1978; (v) … Explanation 3.-For removal of doubts, it is hereby clarified that the expression eligible duties and taxes excludes any cess which has not been specified in Explanation 1 or Explanation 2 and any cess which is collected as additional duty of customs under sub-section (1) of section 3 of the Customs Tariff Act, 1975. Analysis:- This amendment is deemed to be applied from 01-07-2017. The amendment is made in order to allow carry-forward of only eligible duties as the transitional credit. Also, the additional duty of excise leviable under section 3 of Additional Duties of Excise Act, 1978 is removed from the list of eligible duties as per Explanation 1 and Explanation 2. It is further clarifie
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than moulds and dies, jigs and fixtures, or tools, within one year and three years, respectively, of their being sent out from the place of business of a job worker on payment of tax within India, or with or without payment of tax for export, as the case may be: Provided….. Provided further that the period of one year and three years may, on sufficient cause being shown, be extended by the Commissioner for a further period not exceeding one year and two years respectively. Analysis:- A registered person can send inputs and capital goods to job worker without payment of tax with a condition to either bring back or supply such inputs or capital goods within 1 year and 3 years respectively. Now amendment is made that this time limit of 1 year for inputs and 3 years for capital goods can be extended on a sufficient cause for a further period of 1 year in case of inputs and 2 years for capital goods. Place of Supply (IGST Act) Section 12(8) of IGST Act- Place of supply of Transportat
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rocess and are exported after repairs or treatment or process without being put to any other use in India, other than that which is required for such repairs or treatment or process; Analysis:- This amendment is made by inserting treatment or process in the proviso so that the Job work on any such goods which are temporarily imported in India and exported after any treatment or process remains out of the ambit of tax. These are the major amendments as made effective by the applicability of the amendment acts passed. Trust the same is useful for you. By CA Kumar Kedia – Reply By KASTURI SETHI – The Reply = Sh.Kumar Kedia Ji, Really you have worked hard. Excellent compilation, interpretation and analysis indeed. I have saved your article on my desktop as ready recknor. Thanks a lot for such useful contribution. – Reply By Kumar Kedia – The Reply = Thank you so much Kasturi Sir .This means a lot to me. Thank you so much for your appreciation. – Reply By VIKASH KHARA – The Reply = Respecte
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