TMSL - Tax Technology Managed Services

𝐊𝐞𝐲 𝐂𝐥𝐚𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐈𝐬𝐬𝐮𝐞𝐝 𝐏𝐨𝐬𝐭 54𝐭𝐡 𝐆𝐒𝐓 𝐂𝐨𝐮𝐧𝐜𝐢𝐥 𝐌𝐞𝐞𝐭𝐢𝐧𝐠 – 𝐀 𝐒𝐭𝐞𝐩 𝐓𝐨𝐰𝐚𝐫𝐝𝐬 𝐃𝐢𝐬𝐩𝐮𝐭𝐞 𝐑𝐞𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐂𝐥𝐚𝐫𝐢𝐭𝐲 Following the 54th GST Council meeting, the CBIC has issued several crucial circulars aimed at addressing long-standing issues that have been a source of contention across various industries. These clarifications are expected to resolve disputes, improve compliance, and bring much-needed clarity on complex matters. In our latest update, we delve into the key takeaways from these circulars and their potential impact on businesses. Read our expert views to understand how these changes could affect your industry and streamline your GST processes. Stay informed, stay compliant. Jigar Doshi #GSTUpdate #GSTCouncil #54thGSTCouncilMeeting #GSTClarifications #TMSL #TMSLinsighter

The GST Council met for 54th time on 9 September and made varied tax rate changes. Moreover, the Council has recommended to accelerate the key proposals of the budget such as S. 128A and retrospective amendment to S. 16(4). Read the detailed document with our take on the key recommendations given out by the Council. Jigar Doshi #GSTCouncil #TaxUpdates #GSTReforms #Finance #Taxation #Budget2024 #IndirectTax #GST #TMSL

🌟 𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐔𝐩𝐝𝐚𝐭𝐞 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 54𝐭𝐡 𝐆𝐒𝐓 𝐂𝐨𝐮𝐧𝐜𝐢𝐥 𝐌𝐞𝐞𝐭𝐢𝐧𝐠! 🌟 We are thrilled to share that our Founding Partner, Mr. Jigar Doshi, was recently quoted in @Taxsutra, offering his insightful perspectives on the outcomes of the 54th GST Council meeting. With his expertise in tax and regulatory matters, Mr. Doshi provided a deep dive into key developments and the potential impact they may have on businesses across industries. As always, his forward-thinking approach helps us stay at the forefront of evolving tax landscapes.   #GST #Taxation #RegulatoryUpdates #Leadership #Innovation #Taxsutra #GSTCouncil

"Challenges in applying RCM on supply of Electronic devices & parts"   Kindly check our concise write-up for the most recent updates. #fta #vat #vatinuae #uaevat #uae #vatupdate #uaetax #tmsl #tmslglobal #taxupdates

𝐅𝐈𝐑 𝐜𝐚𝐧𝐧𝐨𝐭 𝐛𝐞 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐮𝐧𝐝𝐞𝐫 𝐩𝐫𝐨𝐯𝐢𝐬𝐢𝐨𝐧𝐬 𝐨𝐟 𝐈𝐏𝐂 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐢𝐧𝐯𝐨𝐤𝐢𝐧𝐠 𝐩𝐞𝐧𝐚𝐥 𝐩𝐫𝐨𝐯𝐢𝐬𝐢𝐨𝐧 𝐮𝐧𝐝𝐞𝐫 𝐆𝐒𝐓 𝐀𝐜𝐭: 𝐌𝐚𝐝𝐡𝐲𝐚 𝐏𝐫𝐚𝐝𝐞𝐬𝐡 𝐇𝐂 Recently, the Madhya Pradesh High Court quashed a FIR, wherein only provisions of IPC were invoked for alleged violation of GST Law. The Court reiterated the principle that that special laws, enacted with specific purposes and detailed procedures, should not be circumvented by general laws. Read our insighter to know more. Jigar Doshi #LegalUpdate #GSTLaw #MadhyaPradeshHighCourt #SpecialLawsVsGeneralLaws #TMSL #TMSLinsighter

𝐍𝐨 𝐏𝐞𝐧𝐚𝐥𝐭𝐲 𝐮/𝐬 11(2) 𝐨𝐟 𝐅𝐓𝐃𝐑 𝐀𝐜𝐭 𝐟𝐨𝐫 𝐍𝐨𝐧-𝐟𝐮𝐥𝐟𝐢𝐥𝐥𝐦𝐞𝐧𝐭 𝐨𝐟 𝐄𝐱𝐩𝐨𝐫𝐭 𝐎𝐛𝐥𝐢𝐠𝐚𝐭𝐢𝐨𝐧: 𝐒𝐂 Recently, the Hon'ble Supreme Court in its judgement has reiterated the principle that penal provisions shall be interpreted strictly and held that DGFT cannot levy penalty under Section 11(2) of the Foreign Trade (Development and Regulation) Act, 1992 for non-fulfillment of Export Obligations by the Importer. Read our Insighter for more details. Jigar Doshi #SupremeCourtJudgement #PenalProvisions #LegalInterpretation #TMSL #TMSLinsighter

We are thrilled to announce the opening of our new satellite office in Thane, a move that marks a significant milestone in our ongoing expansion efforts. This new location is not just a testament to our growth but also a strategic step towards enhancing convenience for our team members and better serving our clients. Here's to new beginnings and continued success! #Growth #expansion #NewOffice #team #TMSL Jigar Doshi | Pratik Shah

Bollywood magic, vibrant culture, and unforgettable memories! 🎬✨ The TMSL Bollywood Extravaganza Offsite 2024 was more than just an event—it was a powerful celebration of our collective spirit, creativity, and camaraderie. A day where fun, energy, and team unity came together to inspire and elevate us all. Proud to be part of such a dynamic team! Jigar Doshi | Pratik Shah #TMSLOffsite2024 #BollywoodMagic #TeamCulture #InspirationInAction #TMSL

𝐍𝐨 𝐩𝐫𝐨𝐜𝐞𝐞𝐝𝐢𝐧𝐠 𝐮𝐧𝐝𝐞𝐫 𝐒𝐞𝐜𝐭𝐢𝐨𝐧 130, 𝐢𝐟 𝐞𝐱𝐜𝐞𝐬𝐬 𝐬𝐭𝐨𝐜𝐤 𝐟𝐨𝐮𝐧𝐝: 𝐀𝐥𝐥𝐚𝐡𝐚𝐛𝐚𝐝 𝐇𝐂 Recently, the Allahabad HC held that no proceeding under Section 130 of the CGST Act can be initiated for excess stock found during search proceedings. The HC relied upon its it's own decision, wherein it was held that Section 130 cannot be invoked for determination of tax on the excess stock. For understanding the interplay between the provision of Section 130 and Section 73 or 74 of the CGST Act, do read our comments. Jigar Doshi #tmslglobal #tmsl #taxupdate #GST #TMSLinsighter

We are exited to that we've been recognized by ITR for our Indirect Tax services in the Tier 4 category for India, and as a Notable Firm for Corporate Tax in the GCC! 🎉 This recognition is especially meaningful as it highlights our strength in two key verticals across the two regions we proudly serve. This recognition means so much to us because it’s driven by our hunger to deliver only the best. Our amazing team’s dedication and our clients’ trust have made this journey incredible. We’re beyond grateful and ready to keep raising the bar! Here’s to many more years of growth and success together! 🚀 𝑰𝑻𝑹 𝑨𝒘𝒂𝒓𝒅 𝑳𝒊𝒏𝒌 India : https://lnkd.in/dMwCF-F GCC: https://lnkd.in/d5JiF5DS Jigar Doshi | Pratik Shah #TaxConsultancy #Milestone #TeamWork #ClientLove #5YearsAndCounting #TMSL