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Article on ‘Essential Guidelines for Accurate Filing of GSTR-9 and GSTR-9C’ by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd (June 2024)

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6 out of 10 GST taxpayers have completed their “GST Departmental Audit”. Followed by various observations like GSTR-2A reconciliation issues, Input tax credit availed from non-genuine taxpayer or registration canceled vendor, ITC reversals on account of Credit notes appearing in GSTR-2A, mismatch in Outward supplies vis a vis E-way bill issued, Wrong classification of goods, …

Article on ‘Essential Guidelines for Accurate Filing of GSTR-9 and GSTR-9C’ by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd (June 2024) Read More »

Article on ‘Debit Notes and Eligibility of Input Tax Credit of it in GST’ by CA Anuj Gandhi, Bizsolindia Services Pvt Ltd. (June 2024)

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Introduction A debit note is a commercial document commonly used in business-to-business (B2B) transactions, which can be utilized by either buyers or sellers to address the amount owed for the sale of goods or services. Essentially, it serves as an additional note associated with an invoice, typically indicating the necessity to adjust the invoiced amount. …

Article on ‘Debit Notes and Eligibility of Input Tax Credit of it in GST’ by CA Anuj Gandhi, Bizsolindia Services Pvt Ltd. (June 2024) Read More »

Article on ‘India and its GIG Economy – The Emerging Duality of India’s Workforce – Empowerment or Exploitation?’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. ( June 2024)

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Introduction: Arguably, one of the most difficult relationships in the corporate sector in India is in the sphere of work ethics involving workmen who are constantly called upon to deliver up to the required standard of efficiency and the management who is tasked with the duty of ever greater performance all the time. In the …

Article on ‘India and its GIG Economy – The Emerging Duality of India’s Workforce – Empowerment or Exploitation?’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. ( June 2024) Read More »

Judicial Corner : The Bombay High Court has quashed the show cause notice (SCN) demanding GST on ocean freight on transportation of goods from outside India. The bench of Justice G. S. Kulkarni and Justice Firdosh P.Pooniwalla has relied on the decision of the Supreme Court in the case of Mohit Minerals and observed that the verdict applies to both free on board (FOB) and sum of cost, insurance, and freight (06.06.2024)

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GST The Bombay High Court has quashed the show cause notice (SCN) demanding GST on ocean freight on transportation of goods from outside India. The bench of Justice G. S. Kulkarni and Justice Firdosh P.Pooniwalla has relied on the decision of the Supreme Court in the case of Mohit Minerals and observed that the verdict …

Judicial Corner : The Bombay High Court has quashed the show cause notice (SCN) demanding GST on ocean freight on transportation of goods from outside India. The bench of Justice G. S. Kulkarni and Justice Firdosh P.Pooniwalla has relied on the decision of the Supreme Court in the case of Mohit Minerals and observed that the verdict applies to both free on board (FOB) and sum of cost, insurance, and freight (06.06.2024) Read More »

Judicial Corner : Detention of Goods on valuation and identification of owner in case goods are accompanied invoice movement in with the movement (05.06.2024)

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GST: Detention of Goods on valuation and identification of owner in case goods are accompanied invoice movement in with the movement –The High Court held that value of the supply of goods is clear from the transaction value as indicated in the tax invoice which is on record and there being nothing on record to …

Judicial Corner : Detention of Goods on valuation and identification of owner in case goods are accompanied invoice movement in with the movement (05.06.2024) Read More »

DGFT: Department of Chemicals & Petro-chemicals have been added in the list of Ministries / Departments under Appendix 2Y for exempting mandatory Quality Control Orders (QCOs) for import of inputs by Advance Authorisation holders, EOU and SEZ. (06.06.2024)

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DGFT: Department of Chemicals & Petro-chemicals have been added in the list of Ministries / Departments under Appendix 2Y for exempting mandatory Quality Control Orders (QCOs) for import of inputs by Advance Authorisation holders, EOU and SEZ. [Public Notice No:10/2024 dated 6 June ,2024]

DGFT: Para 2.31(1 (b)) of the Foreign Trade Policy, 2023, Para 2 (C) of the General Notes regarding Import Policy and Policy conditions 2 of chapter 84, Policy Condition no. 5 & 7 of chapter 85 and Policy Condition no. 1 of chapter 94 of Import Policy (schedule 1) ITC HS 2022 have been amended in light of re-notification of “Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2012 as Electronics and Information Technology goods (Requirement of Compulsory Registration) Order, 2021 under BIS Act 2016 (22.05.2024)

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DGFT: Para 2.31(1 (b)) of the Foreign Trade Policy, 2023, Para 2 (C) of the General Notes regarding Import Policy and Policy conditions 2 of chapter 84, Policy Condition no. 5 & 7 of chapter 85 and Policy Condition no. 1 of chapter 94 of Import Policy (schedule 1) ITC HS 2022 have been amended …

DGFT: Para 2.31(1 (b)) of the Foreign Trade Policy, 2023, Para 2 (C) of the General Notes regarding Import Policy and Policy conditions 2 of chapter 84, Policy Condition no. 5 & 7 of chapter 85 and Policy Condition no. 1 of chapter 94 of Import Policy (schedule 1) ITC HS 2022 have been amended in light of re-notification of “Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2012 as Electronics and Information Technology goods (Requirement of Compulsory Registration) Order, 2021 under BIS Act 2016 (22.05.2024) Read More »

Customs: Central Pollution Control Board (CPCB) has informed to release of imported consignments of producers of all the notified EEE items (106 EEEs items) after taking an undertaking as per prescribed format along with the proof of submission of the said undertaking to CPCB at the email till 30.06.2024.(24.05.2024)

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Customs: Central Pollution Control Board (CPCB) has informed to release of imported consignments of producers of all the notified EEE items (106 EEEs items) after taking an undertaking as per prescribed format along with the proof of submission of the said undertaking to CPCB at the email till 30.06.2024. . [Instruction No 14/2024-Customs dated 17.05.2024]

Customs: As per Hazardous and Other Waste (Management and Transboundary Movement) Second Amendment Rules, 2023 dated 18.09.2023, effective from 1.04.2024 (23.05.2024)

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Customs: As per Hazardous and Other Waste (Management and Transboundary Movement) Second Amendment Rules, 2023 dated 18.09.2023, effective from 1.04.2024, the Producers (who includes the Importers) involved in import of Base Oil/Lubrication Oil as well as Other Oils (used as lubricants) are required to obtain the registration from Central Pollution Control Board (CPCB) through online portal. …

Customs: As per Hazardous and Other Waste (Management and Transboundary Movement) Second Amendment Rules, 2023 dated 18.09.2023, effective from 1.04.2024 (23.05.2024) Read More »

DGFT: Inputs imported by Advance Authorisation holders, EOUs and SEZ are exempted from mandatory Quality Control Orders (QCOs). Accordingly, list of Ministries / Departments [ i.e. Ministry of Steel, Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Textiles] are notified in Appendix 2Y of FTP, 2023 (14.05.2024)

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DGFT: Inputs imported by Advance Authorisation holders, EOUs and SEZ are exempted from mandatory Quality Control Orders (QCOs). Accordingly, list of Ministries / Departments [ i.e. Ministry of Steel, Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Textiles] are notified in Appendix 2Y of FTP, 2023 vide Notification No. 71/2023 dated …

DGFT: Inputs imported by Advance Authorisation holders, EOUs and SEZ are exempted from mandatory Quality Control Orders (QCOs). Accordingly, list of Ministries / Departments [ i.e. Ministry of Steel, Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Textiles] are notified in Appendix 2Y of FTP, 2023 (14.05.2024) Read More »

DGFT: Ministry of Mines have been added in the list of Ministries/Departments under Appendix 2Y (The list of Ministries/Departments whose notifications on mandatory Quality Control Orders (QCOs), that are exempted by the DGFT for goods to be utilised/consumed in manufacture of export products) of FTP, 2023, with immediate effect. (14.05.2024)

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DGFT: Ministry of Mines have been added in the list of Ministries/Departments under Appendix 2Y (The list of Ministries/Departments whose notifications on mandatory Quality Control Orders (QCOs), that are exempted by the DGFT for goods to be utilised/consumed in manufacture of export products) of FTP, 2023, with immediate effect. [Public Notice No 04/2024-25 dated 10.05.2024] …

DGFT: Ministry of Mines have been added in the list of Ministries/Departments under Appendix 2Y (The list of Ministries/Departments whose notifications on mandatory Quality Control Orders (QCOs), that are exempted by the DGFT for goods to be utilised/consumed in manufacture of export products) of FTP, 2023, with immediate effect. (14.05.2024) Read More »

DGFT: Provisions relating to the payment of 10% of CIF value and 3% of shortfall in FOB value amounts specified in Para 4.49(a) (ii) and 4.49(b) respectively of Handbook of Procedures, 2023 are applicable only in cases where Advance Authorization is issued on or after 01.04.2023. (08.05.2024)

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DGFT: Provisions relating to the payment of 10% of CIF value and 3% of shortfall in FOB value amounts specified in Para 4.49(a) (ii) and 4.49(b) respectively of Handbook of Procedures, 2023 are applicable only in cases where Advance Authorization is issued on or after 01.04.2023. [Policy Circular No. 02/2024-25 dated 03.05.2024]

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