Decoding recent GST amendments; Facing investigations and audit under GST and Customs
In its endeavour to spread awareness of the crucial developments in tax laws and the way-forward on various pain points troubling the industry, Lakshmikumaran & Sridharan Attorneys (LKS) is participating as Knowledge Partner in a physical seminar being organized by Institute of Business Laws (IBL) on 25th of August from 9:00 AM to 5:00 PM in Pune.
Date & Time
25
Aug 2023 | 9:00 AM - 5:00 PM
Venue
Hyatt Regency Pune & Residences Da Vinci Hall, Weikfield IT Park, Pune Nagar Road, Pune - 411014
Session I (Pre-Lunch): GST laws - Pulse Check – Crucial developments and way-forward on pain points
Deliberations on the nuances of the recent changes made after the recommendations of the 50th GST Council Meeting and many other issues which are bothering the manufacturers, service providers, exporters, and importers for a long time. It will cover the following topics which seek immediate attention:
- Taxability - Liquidated Damages, Warranty Transactions, Indemnification, Insurance Claim, Long Term Lease, Corporate Guarantee, Use of Brand/Logo, Secondment vs. 194J, and holding of shares by holding company in subsidiary company
- Valuation - ISD vs. Cross charge, and Promotional Schemes, including effect of Income Tax Section 194R
- Input Tax Credit (ITC) - Availability of ITC in case of payment of differential duty, ITC on CSR, Promotional Schemes, Implications of credit availed without receiving supplies, Mismatch, and wrongly availed and unutilised ITC in case of IGST
- Other Transactions - Restructuring of Business and its issues, E-Commerce Operator- TCS, and Exports covering implications of non-compliance of Rule 96A and issues under Rule 96(10)
Session II (Post-Lunch): Investigations & Audit under GST and Customs law – Strengthening your mountain gear.
Investigations: Deliberations on the duties, responsibilities, and rights of company officials before, during, and after an investigation by Directorate of Revenue Intelligence (DRI), Directorate General of GST Intelligence (DGGI), Enforcement Directorate (ED), Central Intelligence Unit (CIU), and Special Investigation and Intelligence Branch (SIIB), etc., under GST and Customs law. This part of the seminar will address the following issues amongst others:
- Scope of investigation and powers of investigating agencies during and after investigation
- Duties, responsibilities, and rights of company officials during investigation
- Continuation of business operation when documents, goods, stock, computers, etc. are seized
- Protocol while giving statements to the Revenue officers in response to the summons
- Powers of authorities to arrest company officials during investigation
- Issuance of the Show Cause Notice, and adjudication
- Appellate remedy available with the assessee, including implications of non-constitution of Tribunals under GST Law
- Implications of investigation and demands on entire supply chain including ITC of recipients, on account of investigation of vendors/ suppliers regarding fake ITC.
Audits: Power of Department to conduct Customs and GST audits to help in preparedness for the proceedings in future.
The panel of speakers will be led by :
- Mr. V. Lakshmikumaran, Managing Partner, LKS
