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The total of 245 Star Export Houses and 5,000 other exporters went alienated from claiming their shares of Input Tax Credit (ITC) from the government due to taxman’s heavy investigations. On the other hand, amidst the existing exports decline, merchandise exports declined by 0.34% year-on-year in November consistently for the fifth time in the past […]
Service exporters serving foreign companies are seeking exemption from 18 per cent Goods and Service Tax (GST) on the supply of service. These agents are quoting clarifications from the government authorized Tax Research Unit (TRU’s) as the base of appeal. The service providers (specially marking the agents in the technical handle) reached out to Gujarat […]
The Directorate of Revenue Intelligence (DRI) is likely to re-send notices to exporters who are found guilty of availing inapt GST exemptions on exports preceded imports. The credit goes to the Supreme Court who put a stay on the order by the Gujarat High Court which earlier favoured the exporters by suppressing the notification allowing […]
A piece of very exciting news coming for all the GST exporters in the country. The government has announced a single-window facility for processing GST refunds to the exporters. With the help of this new GST refund system, the government will issue both the Central and State GST refunds parallelly to exporters via a single […]
In the case of M/s. Saraf Natural Stone Vs Union Of India, the Gujarat High Court has passed the judgement that Department will have to pay simple interest at the rate of 9% per annum on the delayed payment of IGST to the exporter. Ever since the launch of GST, the problem of delay in […]
Providing a sigh of relief to exporters, the centre announced to pay the input tax credit (ITC) refunds of state taxes which will translate into lesser transaction time and costs. while the manual interface is being said under processing. As the industry claims, there is a huge difference between the amount claimed for ITC to […]
The government revealed that 5,106 out of 1.42 Lakh exporters are found claiming fraud IGST returns which are based on bogus invoices. Sources further say that the fraud claims by these risky exporters could exceed over 1000 Crore. On this, the government has decided to manually investigate their claims before issuing refunds to the exporters. […]
Again the high court’s intervention has been requisitioned by the big section of Indian exporters. This is due to the abbreviation of the benefits of the EPCG (Export Promotion Capital Goods) scheme under the (goods and services tax) GST regime. Under the GST regime, the discontinuation of some of the perks under EPCG scheme led […]
The revenue department has come with a new step to facilitate the GST refunds to the Exporters and suppliers of goods and services to SEZ units. For this, they have automated the process to quicken the refund accompanied with accuracy. Now there will be no personal interaction as the whole process of claim settlement has […]
