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GST: The CBIC has issued a circular clarifying that if an exporter who initially imported inputs without paying IGST and compensation cess under the benefit of the said exemption notifications, later pays IGST and compensation cess along with interest, and gets the Bill of Entry reassessed through Customs authorities, then the refund of IGST paid on exports will not be considered in contravention of sub-rule (10) of Rule 96 of the CGST Rules.(12.09.2024)

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The CBIC has issued a circular clarifying that if an exporter who initially imported inputs without paying IGST and compensation cess under the benefit of the said exemption notifications, later pays IGST and compensation cess along with interest, and gets the Bill of Entry reassessed through Customs authorities, then the refund of IGST paid on …

GST: The CBIC has issued a circular clarifying that if an exporter who initially imported inputs without paying IGST and compensation cess under the benefit of the said exemption notifications, later pays IGST and compensation cess along with interest, and gets the Bill of Entry reassessed through Customs authorities, then the refund of IGST paid on exports will not be considered in contravention of sub-rule (10) of Rule 96 of the CGST Rules.(12.09.2024) Read More »

GST: The CBIC has issued a circular clarifying that data hosting services provided by Indian service providers to cloud computing service providers located outside India do not qualify as intermediary services.(12.09.2024)

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The CBIC has issued a circular clarifying that data hosting services provided by Indian service providers to cloud computing service providers located outside India do not qualify as intermediary services. Therefore, the place of supply for such services cannot be determined under Section 13(8)(b) of the IGST Act. Circular No. 232/26/2024-GST dated 10.09.2024

GST: The CBIC has issued a circular clarifying that input tax credit on demo vehicles is not blocked under clause (a) of Section 17(5) of the CGST Act.(12.09.2024)

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The CBIC has issued a circular clarifying that input tax credit on demo vehicles is not blocked under clause (a) of Section 17(5) of the CGST Act. Furthermore, the capitalization of such vehicles in the books of account of authorized dealers does not affect the availability of input tax credit, subject to the other provisions …

GST: The CBIC has issued a circular clarifying that input tax credit on demo vehicles is not blocked under clause (a) of Section 17(5) of the CGST Act.(12.09.2024) Read More »

GST:  The CBIC has issued a circular clarifying that an advertising company engaged in the primary supply of advertising services, including the resale of media space, to a foreign client on a principal-to-principal basis does not qualify as an “intermediary” under Section 2(13) of the IGST Act.(12.09.2024)

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GST  The CBIC has issued a circular clarifying that an advertising company engaged in the primary supply of advertising services, including the resale of media space, to a foreign client on a principal-to-principal basis does not qualify as an “intermediary” under Section 2(13) of the IGST Act. Additionally, in such cases, the recipient of the …

GST:  The CBIC has issued a circular clarifying that an advertising company engaged in the primary supply of advertising services, including the resale of media space, to a foreign client on a principal-to-principal basis does not qualify as an “intermediary” under Section 2(13) of the IGST Act.(12.09.2024) Read More »

Article on ‘CORPORATE CULTURE – The Silent Enabler in Building Values and Driving Performance in Organisations’ by CS Venkat R Venkitachalam , Chairman, Bizsolindia Services Pvt. Ltd.( September 2024)

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Corporate culture is the invisible but ever-present personality of a corporate entity during its lifetime through its shared values, beliefs, and behaviours that characterise an organisation. It is the unique personality of a company that shapes its interactions, decision-making processes, and overall atmosphere within and outside the organisation itself.  Think of the company’s culture as …

Article on ‘CORPORATE CULTURE – The Silent Enabler in Building Values and Driving Performance in Organisations’ by CS Venkat R Venkitachalam , Chairman, Bizsolindia Services Pvt. Ltd.( September 2024) Read More »

Article on ‘Detention & Confiscation of Goods and Conveyances in Transit and Levy of Penalty’ by CA Abhishek Malpani, Sr. Advisor, Bizsolindia Services Pvt Ltd (September 2024)

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Sec 129 of the CGST Act provides for the provisions relating to detention or seizure of goods or conveyances” or both in case of certain defaults under the GST law. In common parlance, meanings of the terms – detention and seizure are understood as under: Detention means keeping or holding back either by force or …

Article on ‘Detention & Confiscation of Goods and Conveyances in Transit and Levy of Penalty’ by CA Abhishek Malpani, Sr. Advisor, Bizsolindia Services Pvt Ltd (September 2024) Read More »

Article on ‘Reverse Charge Mechanism and Input Tax Credit Time Limits under GST’ by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd (September 2024)

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Reverse Charge Mechanism (RCM) is a provision under the Goods and Services Tax law where the liability to pay tax is shifted from the supplier to the recipient of goods or services. This mechanism is particularly applicable in cases where the supplier is unregistered or in specific notified supplies. Legal Provision – Section 9(3) of …

Article on ‘Reverse Charge Mechanism and Input Tax Credit Time Limits under GST’ by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd (September 2024) Read More »

Article on’Invoice Management System (IMS) under GST’ by CA Abhishek Malpani, Sr. Advisor, Bizsolindia Services Pvt Ltd (September 2024)

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Recently the GSTN portal has issued a new advisory Invoice Management System (IMS). IMS will provide the preview of GSTR-2B based on the invoices (including credit/debit notes) saved by supplier in GSTR 1, IFF, or 1A and enable taxpayers to review and take action before they are reflected in GSTR 2B.  This IMS system is …

Article on’Invoice Management System (IMS) under GST’ by CA Abhishek Malpani, Sr. Advisor, Bizsolindia Services Pvt Ltd (September 2024) Read More »

Customs : Implementation of automation in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 in respect of EOUs– reg. has been postponed till 16.09.2024 and will be implemented from 17.09.2024 onwards.(08.09.2024)

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Customs : Implementation of automation in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 in respect of EOUs– reg. has been postponed till 16.09.2024 and will be implemented from 17.09.2024 onwards. Circular No. 13/2024 – Customs dated 04.09.2024

Judicial Corner: GST- Adjudication order which was passed ex-parte without hearing assesse to be set aside: High Court:- Where show cause notice was not served physically but uploaded on GST portal and adjudication order was passed ex-parte without hearing assesse, such order was to be quashed permitting them to approach before concerned authority to obtain fresh notice and to file reply thereto and said authority was to pass fresh order after affording them an opportunity of personal hearing.(06.09.2024)

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GST  Adjudication order which was passed ex-parte without hearing assesse to be set aside: High Court:- Where show cause notice was not served physically but uploaded on GST portal and adjudication order was passed ex-parte without hearing assesse, such order was to be quashed permitting them to approach before concerned authority to obtain fresh notice …

Judicial Corner: GST- Adjudication order which was passed ex-parte without hearing assesse to be set aside: High Court:- Where show cause notice was not served physically but uploaded on GST portal and adjudication order was passed ex-parte without hearing assesse, such order was to be quashed permitting them to approach before concerned authority to obtain fresh notice and to file reply thereto and said authority was to pass fresh order after affording them an opportunity of personal hearing.(06.09.2024) Read More »

Judicial Corner: GST – Dept. can’t penalize petitioner for using an alternative portal for filing return due to these technical issues: HC Where due to a technical glitch, petitioner could not file its return in GST portal of Maharashtra and filed it in GST portal of Telangana instead and took credit on same day and transferred it on same day to portal of Maharashtra, pursuant to said action order confirming demand was issued against petitioner, however, since, revenue could not prove any prohibition against said GST return filing and revenue did not suffer any loss from said action, impugned order was to be set aside. (05.09.2024)

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GST  Dept. can’t penalize petitioner for using an alternative portal for filing return due to these technical issues: HC Where due to a technical glitch, petitioner could not file its return in GST portal of Maharashtra and filed it in GST portal of Telangana instead and took credit on same day and transferred it on …

Judicial Corner: GST – Dept. can’t penalize petitioner for using an alternative portal for filing return due to these technical issues: HC Where due to a technical glitch, petitioner could not file its return in GST portal of Maharashtra and filed it in GST portal of Telangana instead and took credit on same day and transferred it on same day to portal of Maharashtra, pursuant to said action order confirming demand was issued against petitioner, however, since, revenue could not prove any prohibition against said GST return filing and revenue did not suffer any loss from said action, impugned order was to be set aside. (05.09.2024) Read More »

GST: Advisory on Invoice Management System dated 03.09.2024 (04.09.2024)

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GST: Advisory on Invoice Management System dated 03.09.2024 To enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the Invoice Management System (IMS) is being brought up at portal. This will also facilitate taxpayer in matching of their records/invoices vis a vis issued by their suppliers …

GST: Advisory on Invoice Management System dated 03.09.2024 (04.09.2024) Read More »

GST: Advisory on Reporting of supplies to un-registered dealers in GSTR1/GSTR 5 dated 03.09.2024 (04.09.2024)

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GST Advisory on Reporting of supplies to un-registered dealers in GSTR1/GSTR 5 dated 03.09.2024 Vide Notification No. 12/2024 – Central Tax dated 10th July 2024, the Government has reduced the threshold limit for reporting of invoice wise details of inter-state taxable outward supplies made to unregistered dealers from 2.5 Lakh to 1 Lakh which needs …

GST: Advisory on Reporting of supplies to un-registered dealers in GSTR1/GSTR 5 dated 03.09.2024 (04.09.2024) Read More »

DGFT: Export of Red Sanders wood by Forest, Environment & Climate Change Department, Government of Odisha – Extension of time for which the additional time of 12 months from the date of this notification is given.(04.09.2024)

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DGFT: Export of Red Sanders wood by Forest, Environment & Climate Change Department, Government of Odisha – Extension of time for which the additional time of 12 months from the date of this notification is given. Notification No. 26/2024-25 dated 03.09.2024

Central Excise: Amendment to Notification No. 10/2022-Central Excise, dated the 30th June, 2022 to exempt export of Motor spirit commonly known as petrol and Diesel from the Road and Infrastructure Cess when exported to Bhutan (04.09.2024)

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Central Excise: Amendment to Notification No. 10/2022-Central Excise, dated the 30th June, 2022 to exempt export of Motor spirit commonly known as petrol and Diesel from the Road and Infrastructure Cess when exported to Bhutan. Notification No. 24/2024 – Central Excise dated 02.09.2024

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