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The Central Board of Indirect Taxes and Customs (CBIC) specified the way of processing and sanctioning IGST refunds, upheld for clause (c) of sub-rule (4) of rule 96, transmitted to the jurisdictional GST authorities under sub-rule (5A) of rule 96 of the Central Goods and Service Tax Rules, 2017. Under the rule, CBIC laid on […]
The process for re-crediting the amount in the electronic credit ledger using FORM GST PMT-03A has been notified by the Tamil Nadu GST Department. If the refund is wrongly sanctioned, the amount paid by the taxpayer, along with interest and penalty, can be re-credited to the GST electronic credit ledger through Form PMT-03A. It came […]
The Tamil Nadu Authority for Advance Ruling ( AAR ) has ruled that reimbursement of toll charges is subject to include in the value of supply and is taxable under GST Act. The applicant, NTL India Private Limited is involved in furnishing the services like rental services of road vehicles including buses, coaches, cars, and […]
The GST network would provide the utility to withdraw refund applications on the GST portal. Through the same, users could withdraw the applications for the mistakes while claiming a refund. The new utility would lessen the chances of rejection of the GST refund applications via the GST dept on the basis of errors or defects. […]
The Himachal Pradesh High Court has removed the order of Excise and Taxation commissioner disallowing the portion of GST ITC and rendered the refund of the balance ITC with 6% interest. The applicant is the owner of Pooja Cotspin Limited is an enrolled dealer beneath the Himachal Pradesh value-added tax, 2005. The assessing authority assessed […]
The budget 2022 season relies on people and similar to every year the experts from the sectors are sharing their list of wants within the Finance minister towards her acknowledgement. The education industry requires more attention because it influences the development and prosperity of the country. In the former budget, the government has made a […]
The tax refund will not take place towards the extent of the non-reversal ITC under GST said by the commissioner. The petitioner is the owner of the M/s Stone Craft (India) Pvt Ltd which is a 100% exporter and poses the business of purchasing, processing, and exporting of the natural stone and does not involve […]
The Central Board of Indirect Taxes and Customs (CBIC) mentioned that the amount of CGST, SGST, or IGST improperly filed for intra-State or inter-State shall be refunded in 2 years. The board has obtained representations sought for clarification upon the problems towards the refund of the tax which is filed mistakenly as mentioned in section […]
Every country expects that its native people “who reside abroad mostly” should invest in the domestic economy to boost the growth and development of the country. So is the case with India. India expects the injection of funds from Non-Resident Taxable Person (NRTP) Who is NRTP? In layman terms, An NRI that supplies goods and […]
