"10 December 2019" Archive

GST on Liquidated damages for delay in execution of contract

In re Rashtriya Ispat Nigam Ltd (GST AAR Andhra Pradesh)

Whether 'Liquidated Damages' and other penalties like milestone penalties levied on suppliers/ contractors in the nature of making good the damages for any delays in supply of service or goods in the following cases are exigible to GST or not?...

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GST payable under RCM on licensing services for right to use minerals

In re PKR Projects and Engineers (GST AAR Andhra Pradesh)

In re PKR Projects and Engineers (GST AAR Andhra Pradesh) The applicant sought to know whether such a royalty paid/dead rent on account of mining rights was liable to tax in the hands of applicant under the reverse charge mechanism or not and If so, what is the rate of GST- payable on the royalty/ […]...

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GST on Services of arranging transport facility for customers

In re Balasubramanyam Saravana Perumal, Prop: Chitra Transport (GST AAR Andhra Pradesh)

In re Balasubramanyam Saravana Perumal, Prop: Chitra Transport (GST AAR Andhra Pradesh) Does the applicant bound to pay GST on the actual amount of commission retained by him for arranging transport facility to their customers or he has to pay GST on the entire amount received from his customers without deducting the commission; What is [...

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GST- Provisional ITC capped at 20% & it’s practical challenges

Goods and service tax, being a tax on the value addition made by suppliers, is paid by netting off the tax receivable from customers (Output GST) with the tax payable to suppliers (Input GST). Pursuant to 37th GST council meeting, CBIC has released a new notification1 inserting sub-rule 36 (4) to the CGST Rules, 2017, (‘Rules’) which ...

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Changing Trends of ‘Service of Notice’ under e-Assessment Regime

Under the new system of faceless e-Assessment, tax payer will receive notice on his/her registered email and/or registered account on the web portal www.incometaxindiaefiling.gov.in with real time alert by way of SMS on his/her registered mobile number. The reply to the notice can be prepared at ease by the tax payer at own residence or o...

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List of CGST nodal officers for IT Grievance Redressal

IT Grievance Redressal mechanism inter alia envisages that taxpayers shall make an application to the field officers or the nodal officers where there was a demonstrable glitch on the Common Portal in relation to an identified issue, due to which the due process as envisaged in law could not be completed on the Common Portal. […]...

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Govt finalises 34.46 Lakh GST Refund Application till 02.12.2019

A number of companies applied for a Goods & Services Tax (GST) refund since the introduction of the tax regime. As on 02.12.2019, a total of 1,86,158 entities have filed 36,42,272 refund applications, out of which 34,46,010 refund applications have been finalised....

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Sanctioned for prosecution given to 366 cases in violation of CSR norms

Whenever any violation of Corporate Social Responsibility (CSR) provisions is reported, action against such non-compliant Companies are initiated as per provisions of Companies Act, 2013 after due examination of records. So far, sanction for prosecution has been accorded in 366 cases. All CSR related offences are compoundable. So far 118 ...

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Validity of Increased Rate of MEIS till 31 Dec​ember​ 2019 only?

Director General of Foreign Trade (DGFT) has recently issued a Public Notice ​​(PN) No. 47/2015-2020 dated 07 December 2019 in relation to change in MEIS rate. It has been notified that, except products listed in Annexure to this Public Notice, ​​​​Additional 2% MEIS (as provided in PN No. 44 dated 05 Dec 2017, PN No. [&hellip...

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Synopsis to New Rule 36(4) of CGST Rules, 2017

Only eligible ITC shall be considered for calculating the 20% restricted credit. Therefore, ineligible credits say under section 17(5) shall not be considered for calculating this 20% amount. The above eligible credit shall be in respect of invoices or debit notes the details of which have been uploaded by the suppliers under section 37(...

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