Sharnam Legal

FINANCIAL YEAR– The period of twelve months from 1st April to 31st March of every calendar year in which business transactions / supply of goods or services or both are performed is termed as ‘Financial Year’. GSTIN– Goods and Services Tax Identification Number, is a unique number allotted for every registered entity in accordance to […]

A very famous and simple case concerning mens rea i.e. R v. Prince[1] brought in the precedent that the offence should be one of strict liability  with respect to the ‘age’ of person, and therefore a mens rea of knowledge of the girl’s actual age was not required to establish the offence. Appellant’s ‘reasonable belief’ […]

Introduction Plainly speaking ‘Goods and Service Tax Laws’ does not permit credit of ‘Krishi Kalyan Cess’ (hereinafter referred to as “KKC”) to be availed in new GST regime. The question of not providing the benefits of credit of KKC is further sustained by the Judgment of Assistant Commissioner of CGST & Central Excise, Chennai v […]

Small taxpayers i.e. MSMEs are considered to be the employment generators, so they need to be given importance in form of incentives in order to create more employment and thus, help in the growth of the economy. MSMED Act enacted by government tries to achieve the objective of growth of these enterprises. In accordance with […]

In the recent Judgment delivered by Hon’ble Supreme Court of India on 19th May 2022 in the case of Union of India & Anr. v M/s Mohit Minerals Pvt. Ltd. Through Director, Civil Appeal No. 1390 of 2022, wherein the Hon’ble Gujarat High Court allowed a petition under Article 226 relating to Ocean Freight challenging […]

Developed or developing world is moving towards specially skilled tax professionals as more & more transparency is required in every aspect for collection and payment of tax. Deep understanding of the intricate provisions of the tax is absolutely necessary for proper compliance by the assessee as well as implementation by the officers who have been […]