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The Delhi High Court recently issued a ruling stating that the collection of tax dues is legally invalid unless the assessment order and statutory demand notice are provided. The court directed the tax department to refund the amounts that were recovered, emphasising that the collection was carried out without the proper legal authority. Philco Exports […]
A new report by Kearney and the Confederation of Indian Industry (CII) states that the cost competitiveness of the mining and construction equipment (MCE) sector should be improved by rationalising Goods and Services Tax (GST) and import duties, which is crucial for the sector’s growth. This arises because of the discrepancy in the GST structure […]
As the end of the financial year approaches, businesses need to ensure that they are complying with their Goods and Services Tax (GST) obligations. The GST system can be complex, with various rules and regulations that need to be followed, which is why having a checklist can be incredibly helpful. In this article, we will […]
In the fast-paced environment of GST compliance businesses are mandated a streamlined system for handling their outward supplies efficiently. An effective Inventory Management System (IMS) has been proposed by Gen GST software developed by SAG Infotech which eases the tracking of outward supplies, managing invoices, and ensuring seamless GST compliance. What is an Outward Supply […]
In the case of Kashi Exports vs Union of India & Ors. (2024), the Gujarat HC instructed tax officials to take another look at a request for a refund associated with GST made by Kashi Exports. The matter is towards the computation of the adjusted total turnover under Rule 89(4) of the CGST Rules. Kashi […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on the place of supply for online services furnished before the unregistered receiver, addressing the concerns for non-compliance with the obligatory invoicing requirements under the IGST Act, 2017 (IGST Act) and the CGST Rules, 2017 (CGST Rules). It was cited that if the services […]
Acknowledging the hardship being faced by the exporters as of restriction concerning the refund on exports, the 54th GST Council Meeting as a trade facilitation measure, recommended omission of Rule 96(10), rule 89(4A) & rule 89(4B) from CGST Rules, 2017 prospectively, where the advantage of the specified concessional/ exemption notifications is taken on the inputs. […]
A clarification for the determination of the place of supply has been provided by the Central Board of Indirect Taxes and Customs (CBIC). Through the trade and field formations, the board has obtained the representations asking for clarifications about the determination of the place of supply for the case of the supply of the service […]
The Honorable Delhi High Court, in the matter of M/s. Indian Herbal Store Pvt. Ltd. vs. Union of India [W.P.(C) 9908/2021 and W.P.(C) 9912/2021 dated September 15, 2023], granted the writ petition and ruled that Rule 89(4)(C) of the Central Goods and Services Rules, 2017 (“the CGST Rules”) should not be applied retrospectively. The Honorable […]
