Team Bizsol

Judicial Corner : GST: High Court of Delhi incase of Refund of unutilized ITC held that the Deficiency Memo is bereft of any specific details – Merely mentioning that relevant supporting documents are not attached/are incomplete wouldn’t render the application deficient.

Judicial Corner :  • High Court of Jharkhand holds that issuance of DRC-07 within five days of issuance of DRC-01 is a clear picture of violation of principles of natural justice and quashes the demand order.

Customs: Anti-dumping duty on “Synthetic Grade Zeolite 4A (Detergent Grade)” import from China PR is extended for further period of 5 years. [Notification No. 12/2023-Customs (ADD)  21 November 2023]

FTP/DGFT: Export of Onion is made free subject minimum export price (MEP) of USD 800 FOB per Metric Ton till 31st December 2023. . [Notification No. 45/2023 23 November 2023]

RBI: The permission granted to AD Category-I banks to open an additional special current account for exporters to settle export transactions in INR. [FED Circular No. 08 dated: 17 November 2023]

Income Tax: CBDT has issued a corrigendum to Notification No. 4 of 2021, dated 15 November 2021 for changes in the format, procedure, and guidelines for the submission of the Statement of Financial Transactions (SFT) concerning Mutual Fund Transactions by Registrar & Share Transfer Agents (RTAs).[Corrigendum dated: 15.11.2023]

Customs: An anti-dumping duty is imposed on “Toughened Glass for Home Appliances” imported from the People’s Republic of China for a period of five years. [Notification No. 11/2023-Customs (ADD) dated: 17 November 2023]

FTP/DGFT: Import policy condition for gold under HS Code 71081200 has been amended  to allow valid India-UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA. [Notification …

FTP/DGFT: Import policy condition for gold under HS Code 71081200 has been amended  to allow valid India-UAE TRQ holders as notified by IFSCA can import gold through IIBX against the TRQ and can obtain physical delivery of the same through IFSCA registered vaults located in SEZs as per the guidelines prescribed by the IFSCA (21.11.2023) Read More »

GST: Biometric-based Aadhaar authentication for GST registration is made mandatory in the State of Andhra Pradesh. Previously, the same requirement was notified for the States of Gujarat and Puducherry. [Notification No. 54/2023-Central Tax, dated 17 November 2023]

Central Excise CESTAT Ahmedabad has held that once the goods are used for manufacture of final products or for provision of taxable services, credit can be allowed. CESTAT Chennai held that imposing Penalty is not sustainable when there is no allegation in SCN that appellant availed credit or utilized the same. CESTAT Delhi held that …

Judicial Corner (20.11.2023) Read More »

GST • High Court of Andhra Pradesh passed a recent judgement where the Order was set aside and fresh proceeding were directed to be initiated as DRC-01A was not issued where it was mandatory. • Delhi High Court held that Merely because assessee had not furnished any return for a period of six months, same …

Judicial Corner (19.11.2023) Read More »

GST: Punjab and Haryana High Court held that a rectified refund application under Rule 90(3) of the CGST Rules, 2017 is not time-barred. The petitioner paid excess amount of SGST under reverse charge mechanism and thus the petitioner filed refund application for which deficiency memo was issued and thereafter Petitioner filed a fresh application which …

Judicial Corner (18.11.2023) Read More »

GST: Delhi High Court in case of Deepak Sales Corporation vs. Union of India held that Interest and penalty not to be levied where excess ITC was availed but then reversed before its utilization. Jharkhand High Court in case of Satyendra Singh Kushwah vs. State of Jharkhand held that Criminal proceedings to be dropped where …

Judicial Corner (17.11.2023) Read More »

Central Excise: CBIC reduced Special Additional Excise Duty on production of Petroleum Crude to Rs. 6300 from earlier Rs. 9800 per tonne w.e.f. 16 November 2023. [Notification No. 38/2023-Central Excise dated 15.11.2023]

Central Excise: CBIC reduced Special Additional Excise Duty on export of Diesel to Rs. 1.00 per litre from Rs. 2.00 per litre w.e.f. 16 November 2023. [Notifications No. 39/2023-Central Excise dated 15.11.2023]

Customs: Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver is revised. [Notification No. 82/2023-CUSTOMS (N.T.) dated 15.11.2023]

FTP/DGFT: DGFT issued Notice to Calcined Petroleum Coke(CPC) Manufacturers for providing information by 20.11.2023 relating to import of Raw Pet Coke. [Trade Notice 34/2023-24 dated 16.11.2023]

GST: Maharashtra Commissioner of State Tax (GST) issued circular for recovery of VAT dues in a matter concerning the SLP filed by the Promoters and Builders Association and the Maharashtra Chamber of Housing Industry (MCHI). [Trade Circular No. 28 T of 2023]

GST: The Gujarat High Court in case of Daksh Enterprise Vs Commissioner Of State Tax held that Non-Consideration of Reply Violates Natural Justice. This judgment underlines the significance of adhering to natural justice principles and providing an opportunity of hearing before passing orders in GST matters. The High Court did not delve into the merits …

Judicial Corner (16.11.2023) Read More »

GST Allahabad High Court held that where revenue officers failed to consider attending circumstances and prove intention of assesse to evade tax, penalty order passed against assessee was to be quashed.