IDT Domain
GST? Mehhh
Services that can be provided within
IDT Domain:
• Return filing – GST R-1, GST R-3B, GSTR –9 – 9C.
• Review of returns.
• Advisory:
Legal Opinions on:
Rate of tax? Value? Time? Place? ITC? Classification? E-way bill?
Disclosure? Return? RCM? Exemption? Goods or service? Composite
supply? Transaction Structuring
Lot of research involved- lot of application of mind
• Litigation
• GST Review (Eg. 5 year review)
• Refund
Why GST?
• Why GST? Integral to every Business
• Dynamic Law: 32 circulars, 2 GST Council meetings, 9
notifications, and so many amendments in the past 4 months.
• A settled law?
• Demand>Supply
• Great scope in Practice
• CA+LLB – High Court – Supreme Court
• International Opportunities?
• Mid Sized firm where you get to learn everything- GST as a part
of the entire thing
Limitations:
• Advisory and Litigation may not be everyone's cup of
tea.
• Advisory and Litigation may not be suitable if you have
a sheer passion for number crunching.
• Every firm practicing GST may not provide all the
services
How should you prepare for
interviews?
• First, make your foundation strong:
Supply? Time of supply? Value of Supply? Place of Supply? ITC?
Due Dates
• If you think you are fine with basics, go ahead and
understand the recent amendments
Practical Demo!
Let's crack some GST issues!
ITC on Demo Cars:
• 17(5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection
(1) of section 18, input tax credit shall not be available in respect of the following,
namely:-
• 2[(a) motor 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;
Queries:
1. Manufacturer purchases a car for the transportation of employees?
2. A registered dealer purchases a car for demo purposes/trial run?
Observe!
• (c) works contract services when supplied for construction of an immovable property
(other than plant and machinery) except where it is an input service for further supply of
works contract service;
• (d) goods or services or both received by a taxable person for construction of an
immovable property (other than plant or machinery) on his own account including when
such goods or services or both are used in the course or furtherance of business.
Explanation.–– For the purposes of this Chapter and Chapter VI, the expression “plant and
machinery” means apparatus, equipment, and machinery fixed to earth by foundation or
structural support that are used for making outward supply of goods or services or both
and includes such foundation and structural supports but excludes-
(i) land, building or any other civil structures;
(ii) telecommunication towers; and
(iii) pipelines laid outside the factory premises.
Resident Welfare Associations!
• Service by an unincorporated body or a non- profit entity
registered under any law for the time being in force, to its own
members by way of reimbursement of charges or share of
contribution –
(c) up to an amount of [seven thousand five hundred] rupees per
month per member for sourcing of goods or services from a third
person for the common use of its members in a housing society
or a residential complex.
THANK YOU
Sathwik Prabhu
https://www.linkedin.com/in/sathwik-prabhu-972a0b249/
