Explore the detailed analysis of 7 GST Circulars issued by CBIC on July 6, 2022, following the 47th GST Council Meeting recommendations. Understand key insights on GSTR filing, demand and penalty provisions, deemed exports, blocked ITC, perquisites, refund processes, and duty-free shops. Stay informed about the latest updates impacting GST compliance and regulations.
Explore the recent Supreme Court decision on secondment of employees, addressing the characterization of the relationship, revenue neutrality, and limitation. Understand the controversial case of CCE Northern Operating Systems and the court’s application of the doctrine of substance over form. Delve into critical aspects and critique the court’s approach, shedding light on revenue neutrality and the limitation period for tax demands.
Dive into the analysis and implications of the Supreme Court decision on ocean freight in the context of CIF imports.
1. 01.2022 has changed the dynamics for managing the cash-flows as far as the businesses are concerned. No businessmen can take the risk of default in filings/payments under GST as far as the self-assessed liabilities are concerned. We say so for the following reasons. 2. W.e.f. 01.01.2022 the entire GST cycle has been tightened. The […]
SC in the case of Westinghouse Saxby Farmer Ltd. v. Commissioner of C. Ex. decided on 08.03.2021 held that the ‘relays’ capable of use solely as part of the Railway signalling equipment should be classified under heading 8608 and not as normal electrical relays under heading 8536.
Notification No. 40/2021 – Central Tax dt. 29.12.2021 has been issued to amend the CGST Rules, 2017 to compliment the amendments made in the CGST Act, 2017 that has been brought into force w.e.f. 01.01.2022. The given amendments in the Rules shall also apply w.e.f. 01.01.2022. The detailed analysis of the amendments in the Act […]
Vide Notification No. 38/2021 – CT dt. 21.12.2021 read with Notification No. 35/2021 – CT dt. 24.09.2021 Aadhaar authentication shall be mandatory w.e.f. 01.01.2022 for specified purposes. Article explains Who has to undergo the Aadhaar Authentication, What are the purposes for which Aadhaar Authentication is mandatory, What if the Aadhaar number has not been assigned […]
In the present write-up, we have undertaken an exhaustive analysis of the amendments have will come into force with effect from 01.01.2022. We have also discussed the amendments that have already come into force as well as the amendments that are yet to come into force.
Article summarises the following changes in GST Rates wef 01.01.2022 Textile sector rate changes (goods) applicable from 01.01.2022 (Notification No. 14/2021-CT (Rate) dt. 18.11.2021 Textile sector rate changes (services) applicable from 01.01.2022 (Notification No. 15/2021-CT (Rate) dt. 18.11.2021 Footwear sector rate changes (goods) applicable from 01.01.2022 (Notification No. 14/2021-CT (Rate) dt. 18.11.2021 Government sector rate […]
Introduction 1. Generally, the transactions in the nature of export of services enjoy the benefit of zero-rating (i.e. ability to claim the refund of the attributable input tax credits with no tax on such supplies). The same has been intended to avoid the passing of the domestic tax cost in international trade. However, the law […]
