Posts Tagged ‘Credit’

Clarification Regarding Digitization of Customs Bonded Warehouse Procedures

Posted On October 1st, 2024

New Delhi, the 30th of September, 2024 Subject: Digitization of Customs Bonded Warehouse procedures relating to obtaining Warehouse License, Bond to Bond Movement of warehoused goods, and uploading of Monthly […]

No import of vehicle in CKD form when essential components sourced locally

Posted On September 26th, 2024

Note – When Six essential components of motor vehicle viz., Engine along – with Transmission Unit, Door Panel, HVAC and Cooling Module, Exhaust System and Axle are being procured from […]

No denial of credit when tax is liable to be paid and amendment in law invo...

Posted On September 24th, 2024

Note – The dispute pertains to the Assessment Years 2017-2018 and 2018-2019. The dispute primarily relates to the delayed availing of Input Tax Credit contrary to Section 16(4) of the […]

The State or Central Tax officer who has initiated proceedings first shall ...

Posted On September 23rd, 2024

Note – Credit blocked by Central Tax Authority (DGGI) post issuance of summons when the issue of ITC availment was already before State Tax Authority pursuant to summons issued by […]

No prosecution by Revenue Authority by invoking IPC without following the P...

Posted On September 20th, 2024

Note – GST Authorities cannot bypass procedure prescribed under GST Act for launching prosecution by simply invoking penal provisions under IPC without invoking penal provisions under GST Act especially when […]

Clarification on ITC on demo vehicles

Posted On September 12th, 2024

New Delhi, dated the 10th September, 2024 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/Commissioners of Central Tax (All) The Principal Directors General/ Directors General (All) Madam/Sir, Subject: Clarification […]

Summary of Recommendations during 54th meeting of the GST Council on 09.09....

Posted On September 10th, 2024

GST Council recommends Group of Ministers (GoM) on life and health insurance related GST with existing GoM on Rate Rationalisation; to submit report by end of October 2024 GST Council […]

Retrospective amendment to Section 16(5) - Delay in filing return to be con...

Posted On September 3rd, 2024

Note – It is seen from the records that the GST Council in its 53rd meeting, recommended to extend the deadline for filing GSTR-3B returns for the financial years 2017-18, […]

Explanation cannot result in taxability contrary to main provision of statu...

Posted On September 2nd, 2024

Note – The mere insertion of an explanation cannot make an activity a taxable service when it is not covered under the main provision (which has to be read into […]

Refund on export of goods cannot be rejected on grounds of non furnishing o...

Posted On September 2nd, 2024

Note – The petitioner’s application for refund could not be rejected for the reason that BRCs evidencing receipt of sale proceeds, were not produced within the period of nine months […]

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