Income Tax - At the very outset, I am very confident to say that Indian exporters can beat the international competition hollow but further compelled to say that the Indian bureaucracy is single handedly enough to pull down the Indian exporters & for that reason alone, the growth engine of exports & consequently the GDP suffers. On the [&hel...
Read MoreIncome Tax - Exporters who claim Refund of IGST paid on Export of Inverted Rated Goods, are being denied Refund of accumulated ITC of Inverted Rated Goods. Article seeks to highlight the provisions of GST Act in case of Exporters who Export inverted rated goods...
Read MoreIncome Tax - Ideally we don’t understand this logic wherein law maker one case allow it if it is paid by way of IGST on export of goods however the same ITC on capital goods claim through RFD 01 then it is disallowed....
Read MoreIncome Tax - he application for filing refund has to be made in form GST RFD-01A along with which invoice wise details of inward and outward supplies have to be furnished electronically in Statement 1A. ...
Read MoreIncome Tax - Various clarifications has been issued in the refund procedures for claiming refund of ITC. This Article has tried to explain these clarifications in a brief along with the practical status of each clarification till date....
Read MoreIncome Tax - Total GST refunds to the tune of Rs 91,149 crores have been disposed by CBIC and State authorities out of the total refund claims of Rs 97,202 crores received so far. Thus, the disposal rate of 93.77 per cent has been achieved....
Read MoreIncome Tax - FORM GSTR-11 under Rule 82 of the CGST Rules, 2017 mandates reporting “Place of Supply” for every invoice on which refund is applied for. Many UIN entities while filling invoice data have been reporting their place of supply as the State where they are registered instead of the place of supply as reflected in the invoice....
Read MoreIncome Tax - There are concerns being raised about growing pendency of GST Refunds. Exporters are reassured that there is no le-tup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month. As on 31st October, 2018, total GST refunds to the tune of Rs 82,775 crore have been disposed by Central Board of Indirect [&hell...
Read MoreIncome Tax - Refund on account of Assessment/Provisional Assessment/ Appeal/ any other Order enabled The taxpayers can now file online application to claim refund on account of Assessment/Provisional Assessment/ Appeal/ any other Order on GST Portal. (refer Section 54(1) of CGST Act 2017) Extract of Section 54 of CGST Act,2017 Section 54 – Refun...
Read MoreIncome Tax - Central Board of Indirect taxes and Customs (CBIC) has recently introduced several provisions and alternative procedures through which various errors due to the anomalies or mismatch between the Shipping Bill and the data recorded while GST return filing procedure with respect to the FORM GSTR-1 can be rectified in the system....
Read MoreM/s. Sri Gayathri Cashews Vs Assistant Commissioner of GST and Central Excise (Madras High Court) - Rejection of IGST refund without considering assessee's reply and also without affording an opportunity of personal hearing was in violation of the principles of natural justice. Therefore, matter was remanded back for reconsideration to decide the refund claim on merits within the stipulated period...
Read MoreApar Industries Limited Vs. UOI (Bombay High Court) - Apar Industries Limited Vs. UOI (Bombay High Court) Writ Petition was filed by the Petitioner being aggrieved by the non-payment of interest on the amount of Rs.5.52 crores of refund already granted as well as refund of balance amount along with interest. Petitioner had filed a refund of Rs.52.97 cr...
Read MoreSales Tax Bar Association Vs Union Of India(Delhi High Court) - Delhi High Court has asked Central Government to file details of (i) GST Refund applications filed and claimed (ii) refund applications pending with amount claimed (iii) refunds which have been issued and (iv) refunds paid by the Central Government and the State Government and (v) steps taken to re...
Read MoreM/s. Saraf Natural Stone Vs Union Of India (Gujarat High Court) - While admitting a petition seeking interest / compensation for delay in both provisional as well as final refund of GST beyond stipulated period, the Gujarat High Court has issued notices to Centre, CBIC and GSTN....
Read MoreShree Rama Newsprint Limited Vs. Union Of India (Gujarat High Court) - Shree Rama Newsprint Limited Vs. Union Of India (Gujarat High Court) Gujarat High Court on 18/09/2018 grants interim stay on the retrospective amendment in case of inverted duty refunds whereby refund on input services was denied by notification dated 13-06-2018 w.e.f. 01-07-2017. This is welcome ne...
Read MoreCircular No. 01/2019-Customs - (02/01/2019) - CBIC Circular No. 01/2019-Customs deals with Errors related IGST Export Refunds and resolves issues in IGST Export Refunds due to (i) Online filing of both local and Gateway EGM not being done on time by the concerned stakeholders. (ii) Mismatch in local and gateway EGM details wherever both are ...
Read MoreCircular No. 79/53/2018-GST - (31/12/2018) - CBIC Circular No. 79/53/2018-GST explains following GST Refund related issues- Physical submission of refund claims with jurisdictional proper officer, Calculation of refund amount for claims of refund of accumulated Input Tax Credit (ITC) on account of inverted duty structure, Refund applications t...
Read MoreInstruction No. 20/2018-Customs - (26/11/2018) - For the convenience of the field formations, the procedure for processing IGST refund claims for exports made from Non-EDI sites, is as under: (i) Firstly, the export data is to be captured using offline utilities and transmitted by the field formations to DG (Systems) by email....
Read MoreTrade Circular No. 34T of 2018 - (15/11/2018) - Trade Cir. No. 34T of 2018 explains on Status of refund claim after issuance of deficiency memo and recredit of electronic credit ledger and Allowing exporters who have received capital goods under EPCG to claim refund of IGST paid on exports. Also Read-Processing of refund under the GST in Maharash...
Read MoreTrade Circular No. 33T of 2018 - (14/11/2018) - Trade Circular 33T of 2018 explains Submission of invoices for processing of claims of GST refund, System validations in calculating GST refund amount, Re-credit of electronic credit ledger in case of rejection of GST refund claim, Disbursal of GST refund amount after sanctioning by the proper off...
Read MoreM/s. Sri Gayathri Cashews Vs Assistant Commissioner of GST and Central Excise (Madras High Court) -
Circular No. 01/2019-Customs - (02/01/2019) -
Circular No. 79/53/2018-GST - (31/12/2018) -
Instruction No. 20/2018-Customs - (26/11/2018) -