Interest on delayed GST payment- Whether automatic or adjudication is called for -Saga continues In my earlier article, case of M/s LC Infra Projects Pvt Ltd [ Writ Petition No. 28876 of 2019 (T-RES, Karnataka High court) ] was highlighted wherein department issued demand notice for recovery of interest and also served a letter for […]
Issuance of Show Cause notice u/s 73 of the Act is essential to proceed with the recovery of interest payable thereon under Section 50 and further held that Sec 75(12) of CGST Act is applicable only to the self-assessment made by the assessee and not to quantification or determination made by the Authority and hence by virtue of said section authorities are not empowered to proceed with recovery of interest without issuing Show Cause Notice on account of principle of natural justice.
A. Provisions under GST law Services provided by director is supply under GST act and recipient of service i.e company located in India needs to pay GST@18% on RCM basis. Relevant extract from RCM ntfn-13/2017 dt 28.06.17 is produced as below: S.no. Category of Supply of Services Supplier of service Recipient of Service 6 Services […]
The Special Valuation Branch (SVB) investigates the transactions between the importer and the related foreign supplier. When the parties are related as per Rule 2(2) of the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (Valuation Rules), then the valuation of goods as imported from such related foreign suppliers is investigated and/or examined […]
