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Samsuddha Majumder
Tax Partner at Trilegal
Samsuddha Majumder is a highly educated professional with a background in law and taxation.
He pursued his Master of Laws (LL.M.) in International Business, Trade, and Tax Law at the prestigious University of California, Los Angeles - School of Law.
Prior to his LL.M., Samsuddha completed his Bachelor of Laws (LL.B.) at the esteemed National Law School of India University.
He has gained valuable experience in the legal and financial sectors through his roles in renowned organizations.
Samsuddha served as a Tax Partner at Trilegal, where he contributed his expertise in tax law and business practices.
Additionally, he held a managerial position at Ernst & Young, further enhancing his skills in the industry.
With a strong educational foundation and a wealth of professional experience, Samsuddha Majumder is a competent individual in the fields of law, taxation, and business.
Highlights
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I am sorry, Madam FM, 12% GST on medicine and concentrators are not justified on the pretext of input credit set-off.
Either the FM doesnt really understand the nuances of one of the principal laws of her domain, or she is purposely duping the public (knowing not all are tax experts).
A 12% GST is NOT more efficient than a terminal exemption so long as the total ITC is less than12% of output revenue (which is likely, as even assuming an average 18% rate on inputs/ input services, input cost is likely much lower than output revenue, and several costs are outside of GST such as employee cost, power, fuel etc. Assuming that ITC (expressed as % of output supply) is less than 12%, a terminal exemption is better! Now in the unlikely case that the input GST (as % of output supply) is higher than 12%, a 12% rate is comparatively better- since the excess credit would be refundable, but NOT ideal, as the consumer will still have to pay 12% GST. Ideal solution would be keep a very low output tax (<=5%) or even 0-rate it (amendmetnt in the Act is required), so that refund of ITC is available without burdening customers with 12% output tax. Govt. has the power.
Our article on GST Sutra on the whole (slightly unnecessary) drama over the recents judgments and Government's retrospective validation of the cut off date for transitioning of credit of erstwhile taxes. Regardless of legal fine points, it would have been nice if the Government showed a little empathy to difficulties of taxpayers in these cash crunched times and graciously accepted the Delhi High Court's ruling allowing transitioning of erstwhile credit till June 30, regardless of cause. Credit to Kartikey Kulshrestha and Nameer Khan Trilegal #GST #transitioncredit
