February 27, 2024

Key issues in return filing discussed at PHDCCI’s 23rd GST seminar

NEW DELHI: The GSTR 9 and GSTR 9C return filing and its importance, legal provisions of the annual return and the problems being faced by the taxpayers while filling GSTR 9 and 9C returns for 2022-23, for which the deadline for filing is 31st December 2023, were among the several issues which were deliberated at the 23rd edition of Knowledge Series on GST organised by PHDCCI here on 27th December at PHD House.

Chairman of the Indirect Tax Committee and Partner, AK Batra and Associates, Mr. Ashok Kumar Batra lauded the exemplary efforts of the Chamber in demystifying the complex issues of indirect taxes for common man and organizing monthly seminars on the subject. He spoke about the two types of GST returns and their applicability, the exemptions that are available under the two and the correct methods of filing them.

Among the experts who participated in the seminar were Mr Tushar Aggarwal, Co-Chair of the Indirect Tax Committee and Co-Founder, Tattvam Advisors; Mr Shivam Mehta, Director, Lakshmi Kumaran & Sridharan; Mr Kulraj Ashpanani, Partner, Dhruva Advisors; Mr. Yogesh Gaba, Managing Partner, GABA & Co. and Ms. Prerna Chopra, Associate Partner, BDO India.

Mr. Aggarwal spoke about the issue of blocked credits under GST, Input Tax Credit (ITC) on sales promotion activities and gifts and other schemes. He went into the details of the nature of ITC i.e., whether it is a concession or a right as also the availability of ITC on construction of factories and offices.

Mr. Mehta gave a presentation on taxability of discounts and incentive schemes, latest investigations on various schemes, different conditions for discounts from values, dealer incentive schemes, retail incentive schemes and issuance of GST credit notes.

Mr. Ashpanani focused on assessments under GST, drafting of replies to assessment notices and the guidelines and precautions to be careful about, scrutiny of return u/s 61 of CGST Act, department audit u/s 65 of CGST Act, and special audit u/s 66 of CGST Act.

Mr. Gaba dealt with the issue of GST applicable on online games; penalties under section 122 & section 74 and the impact of GST on e-commerce industry. He spoke about the value of supply of online games including supply of actionable claims involved in online money games.

Ms. Chopra’s presentation was on summons, search and seizures under GST; key provisions for summons and key points to be aware of by taxpayers for handling of summons.

A highly popular Knowledge Series of PHDCCI, it has benefitted over a thousand participants since its start in 2021.Among the companies which have been associated with PHDCCI’s Knowledge Series on GST are Khaitan & Co; A2Z Tax Corp LLP; Athena Law House; Nitya Tax Associates; Finjuris; Institute of Company Secretaries of India (ICSI); Institute of Cost Accountants of India (ICMAI); Taxmann India; CA Club India and TIOL; and was supported by PHDCCI’s annual sponsors: DLF Ltd, Jindal Steel & Power, KLJ Group, Multani Pharmaceuticals Ltd, Marble City, MMG Group, Radico Khaitan Ltd, Uflex Ltd, Vestige, Eazy ERP Technologies, JK Tyre & Industries Ltd, Sagar Group of Industries, Superior Industries Limited, Samsung India Electronics, Oswal Greentech, Apeejay Stya Group, Blossom Kochhar Beauty Products Pvt Ltd, DCM Shriram, R E Rogers, Trident Group, Ajit Industries Pvt Ltd, Bhagwati Plastic and Pipes Industries, Central Coalfields Ltd, DD Pharmaceutical Ltd., Hindware Sanitary, Jindal Steel, Modern Automobiles, and P S BEDI & Co.

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