This papa: - Exporters are facing acute crunch of working capital as they continue to experience refund issues in the post-GST regime with the government inserting rules retrospectively and taking a rigid stance on how certain policies should be implemented. One of the problems faced recently in … [Read more...]
GST UPDATE ON VALIDITY OF THE CONSTITUTION OF AAR & AAAR
The Authority for Advance Ruling under GST is constituted in terms of provisions contained in section 96 of the CGST Act, 2017 read with Rule 103 of the CGST Rules, 2017 wherein the government appoints officers not below the rank of Joint Commissioner as member of the Authority for Advance Ruling … [Read more...]
GST and JOHNNY- UPDATE No.70
There is good news for every taxpayer who has felt a need of revision facility of GST returns. Few days back, government has provided a new facility on GST portal to file amendment in returns. This facility can be accessed using Services>Returns Dashboard >File Amendment Return. This facility … [Read more...]
GST UPDATE ON PROS & CONS OF EXPORTS WITH/WITHOUT PAYMENT OF TAX
Export of goods or services is treated as a zero-rated supply. An exporter dealing in zero-rated supplies can make exports with or without payment of tax. The exporter may supply goods or services or both after paying the amount of IGST and can claim a refund of the amount of tax paid on such goods … [Read more...]
GST and JOHNNY- UPDATE No.64
This Papa: In order to limit the exporters from claiming the refund on the basis of ineligible documents or fraudulently, customs department has marked few exporters as “risky exporters”. Whereby based on the based on a certain criteria as well as artifical intelligence, the system identify the … [Read more...]
GST Update on e-Sanchit for paperless processing
The Government has launched e- Sanchit. e-Sanchit is an electronically storage and Computerized Handling of Indirect Tax Documents for paperless processing, uploading of supporting documents, to facilitate the trading across Borders. It has already been made available to importers and exporters … [Read more...]
GST Update: Taxpayers can now avail transitional credit up to 30th June 2020 as per Delhi High Court decision
This update seeks to discuss about the transitional credit which was entitled to be carry forward by the taxpayers while migrating to GST from the erstwhile regime. The time limit for availing the benefit of carry forward of transitional credit is prescribed by Rule 117 which is being amended from … [Read more...]
GST Update on requirement of separate registration for execution of contract in another state
The present update intends to discuss the recent advance ruling given by AAR Karnataka in the case of M/s T & D Electricals. In earlier update, we had discussed the decision pronounced by AAR Rajasthan in case of same assessee wherein the application was rejected and the applicant was asked to … [Read more...]
GST Update on whether Rajasthan AAR competent to decide on registration requirement in another State?
The present update intends to discuss the Advance Ruling given in the case of M/s T & D Electricals. The question placed before the Advance Ruling was the requirement of separate registration for executing works contract in another State and leviability of tax-whether CGST/SGST or IGST if … [Read more...]
GST Update on landmark decision that interest cannot be recovered without adjudication proceedings
The delay in retrospective amendment regarding computation of interest liability under GST regime has led to flood of writ petitions in High Courts seeking relief from recovery proceedings initiated by the government. The revenue authorities have consistently held that interest liability gets … [Read more...]
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