Delve into the significance of SEZ endorsement under GST laws, ensuring compliance with authorized operations and eligibility for zero-rated supplies.
The Hon’ble High Court concluded that order passed by JCCT Appeals cannot be said erroneous. Also concluded that the position adopted by ADC is not in line with KVAT Laws where the order passed by ADC was based on assumption that the benefit of refund of tax paid on purchase of Inputs can be granted only in respect of manufacture and processing of goods which is not at all prescribed under the law. Accordingly, there is no justification on the part of ADC in invoking revisional power u/s 64 (1) of the KVAT Act.
DGFT has released a Notification No. 30/2015-20 dated September 01, 2020, wherein they have clarified on the ‘Ceiling / Cap on MEIS Benefits which are available to Exporters on exports made from September 01, 2020 to December 31, 2020’.
Prospective Effect is not at all a Problem – Interest on GST liability “Every single move in life have Double Effect i.e. prospective as well as Retrospective” Introduction Interest is always considered as compensatory in nature and it has been imposed on a registered person who has failed to pay the tax liability within the […]
This type of assessment outlines that every registered person shall make a self-assessment of his output GST payable and furnish the same in his respective monthly / annual return after discharging the aforesaid computed liability.
Wherein many clarifications raised by the stakeholders was clarified pertaining to the FTP Schemes such as MEIS & SEIS in the current Instruction issued. All the inputs received so far from DGFT are listed below in detail along with writer’s view.
Merchandise Exports from India Scheme (MEIS) was introduced in the Foreign Trade Policy (FTP) 2015-2020. The said policy was categorised predominantly as an incentive scheme for the export of goods under Chapter 3 (Exports from India Schemes).
Special Rule 20-10-0 (October 2019 – March 2020) A Big Roller Coaster Ride – Guidelines for ITC refunds under Section 54(3) ‘ITC is always considered as a key factor since it has its own dimensions’ Recently, CBIC has released a Circular on GST Refunds wherein they have clarified that the exporter would not be eligible […]
