DGFT: DGFT focuses on the harmonization of Chapters 40 to 98 of Schedule-II (Export Policy) to ITC (HS) codes. This harmonization aims to streamline the export control and facilitation process by aligning the export policy with the 8-digit ITC (HS) codes, providing greater clarity and ease of reference for stakeholders. This is part of an …
DGFT: Inclusion of Kandla and Vishakhapatnam Sea ports for Export of Essential Commodities to Maldives during FY 2024-25. The Kandla and Vishakhapatnam Customs Sea ports have been added to the list of ports allowed for Export of Essential Commodities, which are under the Prohibited/Restricted category. [Notification no. 22/2024-25 dated 01st August 2024]
GST: Bonafide purchasing dealers should not be denied ITC for non-compliance of selling dealers: Petitioners argue it is unreasonable to hold purchasing dealers responsible for selling dealers’ failure to deposit collected tax. Delhi High Court precedent (On Quest Merchandising India Pvt. Ltd.) supports the petitioners, ruling that bona fide purchasing dealers should not be penalized …
Customs Parts for use solely with transmission shafts used in motor vehicles are classifiable under CTH 8483: CESTAT:- Universal Joint Cross, parts, body, cup, needly roller and SNAP ring, for use solely with transmission shafts used in motor vehicles, are more specifically classifiable under Tariff Item 8483 60 90 and not under Heading 8708; it …
GST: ISD Mechanism for mandatory distribution by Input Service Distributor shall be effective from 01-04-2025 for distribution of ITC. The taxpayer has been granted additional time to obtain ISD registration and establish an internal compliance system. [Notification no. 16/2024 dated 06th August 2024]
GST High Court remanded matter as no opportunity of hearing was granted to assessee before passing order of mismatch:- Where assessee was not given opportunity to explain discrepancies between GSTR-1 and GSTR-3B returns, High Court remanded matter for fresh consideration with opportunity to submit documents. (In the high court of judicature at madras in Hajabandenawas …
Judicial Corner : Customs Seized gold can’t be disposed of without issuing SCN to person from whom it was seized:- Without issuing show-cause notice or adjudication proceedings, Authorities could not proceed to dispose of seized gold that was not perishable, merely on basis of petitioner’s statement recorded under S. 110 of Customs Act, 1962 (In …
GST CCI directed to deposit profiteered amount as assessee had not passed benefit of reduction in GST rate:- Where GST rate of services by way of admission to exhibition of cinematography films supplied by respondent-assessee was reduced from 28 per cent to 18 per cent and respondent-assessee had not passed benefit of reduction in GST …
GST High Court remanded matter as order passed by Commissioner (Appeals) cancelling GST registration was cryptic in nature:- GST registration cancellation order lacking reasons and time-barred appeal quashed; matter remanded for fresh show cause notice with detailed reasons and opportunity for response. (In the high court of Gujarat at Ahmedabad in Sajid Faridmohammed Rollwala Vs …
Judicial Corner : GST : High Court remanded matter as order passed by Commissioner (Appeals) cancelling GST registration was cryptic in nature:- GST registration cancellation order lacking reasons and time-barred appeal quashed; matter remanded for fresh show cause notice with detailed reasons and opportunity for response. (In the high court of Gujarat at Ahmedabad in …
GST: TCS Rate Changes for E-commerce Operator (GSTR 8) – Important aspects regarding the TCS rates effective from 10.07.2024 are mentioned below: Period from 1st July to 9th July 2024: During this period, the old TCS rate of 1% will continue to apply. Taxpayers are required to collect & report TCS at this rate for all transactions …
GST: TCS Rate Changes for E-commerce Operator (GSTR 8) (03.08.2024) Read More »
GST: Form GSTR-1A has been made available to the taxpayer’s form July 2024 tax period. GSTR-1A is an optional facility to add, amend or rectify any particulars of a supply reported/missed in the current Tax period’s GSTR-1 before filing of GSTR-3B return of the same tax period. Timeline – GSTR-1A shall be open for the …
GST High Court set aside order detaining goods for non-generation of e-invoice as mistake committed by assessee was bona-fide:- Where assessee’s goods in transit were detained as E-tax Invoice was not generated as per Rule 48 of CGST Rules, tax invoice, GR’s, E waybills, were with goods, no discrepancy with regard to quality and quantity …
GST High Court stayed proceedings initiated to levy GST on transaction of assignment of Long-Term leasehold right:- Where petitioner received notice calling upon petitioner to show cause why GST on transaction of assignment of long-term leasehold right be not levied, case was directed to be heard with pending Special Civil court, further proceedings pursuant to …
Customs Tribunal should decide matter on merits rather than dismissing appeal on ground that writ was pending before HC:- Where a person had filed appeal to CESTAT against adjudication order and made mandatory pre-deposit as a condition precedent for hearing such appeal, it should have been disposed of on merits instead of dismissing it in …
DGFT: DGFT has announced an extension to permissible wastages and Standard Input Output Norms (SIONs) for gold, platinum, and silver content in export items. [Public Notice No. 16/2024-25-DGFT Dated: 30th July, 2024]
Customs: Government has introduced new regulations to amend the timeline for modifying import documents under Section 149 of the Customs Act, 1962, similar to the existing provisions for exports tiitled the Bill of Entry (Post Import Amendment) Regulations, 2024. These regulations specify that applications for amendments must be submitted within one year from the date …
GST High Court set-aside order as it was passed without considering explanation of assessee:- Where assessee claimed lack of proper communication of notices and sought opportunity to explain discrepancies, assessment order set aside conditionally, directing revenue to provide reasonable opportunity and pass fresh order after hearing. (In the high court of judicature at madras in …
GST : GSTN has introduced a new biometric-based Aadhaar authentication and document verification process for GST registration applicants in Uttarakhand, effective from July 28th, 2024. [Press Release No. 507 Dated 28th, July 2024]
GST: High Court declined to entertain writ petition filed by assessee who didn’t take any step for revocation of cancelled registration:- Where registration of assessee had been cancelled and electronic credit ledger of assessee had been blocked, since assessee had not taken any step for revocation of cancellation of its registration, High Court was not …
