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Parameshwar J

Latest Posts by Parameshwar J

Shift from MEIS to RoDTEP

August 21, 2021 4278 Views 1 comment Print

In a major move aimed at boosting exports and offering relief to exporters, the government on 17th  August  2021 notified Remission of Duties and Taxes on Exported Products (RoDTEP) (guidelines) as part of the Chapter 4 provisions of the Foreign Trade Policy 2015-20– Notification No. 19/ 2015-20 dated 17 August 2021 to replace the Merchandise […]

Changes in GST with effect from 1st January 2021

January 2, 2021 33483 Views 0 comment Print

As the 2021 New Year is ushering, everyone wishes to welcome it with lots of celebrations, waving goodbye to 2020. In light of the GST investigation wing recently unearthing several cases of fake invoices and bogus firms, which also resulted in the arrest of some individuals CBIC has issued a couple of notifications amending the […]

Changes in GST with effect from 1st April 2019

March 29, 2019 56175 Views 9 comments Print

With the beginning of the new financial year of 2019-2020 CBIC has issued various notifications to give effect to the recommendations made during 32nd GST Council meeting, held on 10 January 2019, the said notifications have been issued to give relief to MSME sector like increase in threshold limit for registration, concessional rate of tax […]

Gujarat HC strikes down ‘pre-import condition’ under advance authorisation scheme

March 3, 2019 5805 Views 0 comment Print

Background In the pre-GST period, the advance authorization license allowed an exporter to import raw materials used for manufacturing exported goods without payment of taxes on import of raw material used for past exports. Subsequently, the scheme was amended to allow exemption from IGST as well as compensation cess by issuing Notification No.79/2017-Cus dated 13.10.2017. […]

Analysis of circular on tax payment on supply of goods being deposited in custom bonded warehouse

February 24, 2019 1062 Views 0 comment Print

Analysis of Circular on tax payment on supply of goods being deposited in custom bonded warehouse. In the recent Circular No. 91/10/2019-GST dated 18 February 2019, CBIC has clarified on the issues faced in common portal in case of Supply of goods while being deposited in custom bonded warehouse which was subject to payment of […]

GST Amendment laws effective from 1 February, 2019 except some specified provisions

February 5, 2019 40929 Views 0 comment Print

GST Amendment laws becomes effective from 1 February, 2019 except some specified provisions Various amendments under the CGST, IGST, UTGST and GST (Compensation to States) Amendment Acts had received the Presidential assent on 29 August 2018. Based on decision taken by the GST Council in its 31st meeting held on 22 December 2018, the CBIC […]

Gujarat HC revokes CBIC Circular & extends GST exemption to DISCOM’s ancillary services

January 27, 2019 3960 Views 0 comment Print

The recent ruling of Gujarat High Court (HC) Torrent Power Ltd. v. Union of India, strikes down paragraph 4(1) of Circular No. 34/8/2018-GST dated 1 March 2018 as being ultra vires to the provisions of CGST Act and exemption notification No. 12/2017-Central tax (Rate), dated 28 June 2017. On 1 March 2018, CBIC issued Circular […]

Govt removes condition for Advance Authorisation & extends exemptions of IGST and compensation cess for specified deemed exports

January 22, 2019 8454 Views 1 comment Print

The pre-import condition for Advance Authorisation removed by Government, extends exemptions of IGST and compensation cess for specified deemed exports. Earlier, there were no exemption available for integrated GST (IGST) and compensation cess for imports under advance authorization for deemed exports. However, these elements of customs duties were exempt for imports under advance authorisation for […]

Outcome of 32nd GST council meeting.

January 21, 2019 10938 Views 3 comments Print

The Goods and Services Tax (GST) Council held its 32nd meeting on 10 January 2019 in New Delhi. Various decisions were taken to provide relief to Micro, Small and Medium Enterprises. The key recommendations made by GST council are as follows: The threshold limit of aggregate turnover in the preceding financial year for opting composition […]

A quick grasp of clarificatory circulars issued by CBIC on 31st Dec 2018 & 1st Jan 2019

January 16, 2019 6603 Views 2 comments Print

On 31st December 2018, CBIC has issued multiple circulars to clarify various issues. Besides, CBIC also issued various notifications and orders to give effect to the decisions taken at the 31st GST Council meeting as a welcome for New Year of 2019. In this article, I would give you a quick grasp of all the […]

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