1. The CBIC vide Notification No. 94/2020-Central Tax dated December 22, 2020, has amended Rule 22 dealing with cancellation of registration by issuing fourteen amendments of CGST Rule 2020. 1.1 Further, CBIC vide twitter dated 23.12.2020 has clarified the facts on recent rule changes against the misinformation on social media that is confusing genuine taxpayers. […]
An Overview Of Special Cash Package LTC Scheme 1. Further to my article Special Cash Package Scheme In Lieu of LTC for Government Employees, I have received several queries related to the applicability of the scheme. The Government vides office memorandum followed by FAQs (Frequently Asked Questions) has clarified issues related to the scheme. 1.1 […]
1. E- Way Bill (EWB) generation blocking means not allowing the taxpayer to generate an E-Way bill if he has not filed GST Return for the latest two successive months or quarters. 2. STATUTORY PROVISION Rule 138E – No person (including a consignor, consignee, transporter, an e-commerce operator, or a courier agency) shall be allowed […]
1. Hon’ble Gujarat High Court in case of Britannia Industries Ltd allowed SEZ (Special Economic Zone) to claim a refund of ITC (Input Tax Credit) received from ISD ( Input Service Distributor) Unit 1.1. It is held that assessee, situated in Special Economic Zone (SEZ), could claim a refund concerning credit of IGST distributed by […]
Merchant Export means an activity by a trader who exports or intends to export goods. The person engaged in trading activity and export or intend to export goods is a Merchant Exporter. A merchant exporter is mainly engaged in the export of goods and not services.
(a) Deemed Export is not a ZERO RATED SUPPLY (b) Applicable only for the supply of Goods (not applicable to the services) (c) Goods are not required to be taken outside India. (d) Such supply of goods must be notified by the Government as Deemed Export. (e) Goods must be manufactured in India (f) Payment received in Indian Rupee or in convertible foreign exchange
Akash Garg Vs State of M.P. (Madhya Pradesh High Court) Show Cause Notices (SCN) to Taxpayers Under GST Act Mandatory to Upload on Website – Mere E-Mail is not Suffice 1. The Honourable Madhya Pradesh Court in case of Akash Garg Vs State of M.P, vide order dated 19.11.2020 held that statutory procedure prescribed for […]
It is held by Appellate Authority – GST, ANDHRA PRADESH in case of Sri Kali Krishna Industries Vs Assessing Authority AP that mere mismatch in GSTR 3B & GSTR 1 is not conclusive for any suppression of tax. The contentions submitted by the taxpayer need to be examined before issuing an order. Brief Fact of […]
1. Quarterly Return Monthly Payment Scheme (QRMP) is a scheme notified by the Government allowing a registered person having aggregate turnover up to five (5) crore rupees to furnish return on a quarterly basis along with monthly payment of tax. CBIC vide circular no. 20/01/08/2020- GST dated 10 November 2020 clarified various issues related to […]
1. The Government vides notification no. 61 /2020 CT- dated 30.07.2020 notified that a registered person with an aggregate turnover in a financial year exceeds rupees 500 corers is liable to generate e-invoice. 2. For e-invoice generation, notified suppliers to get their documents registered on the Government designated system i.e. Invoice Registration Portal (IRP). Once […]
