Goods and Services Tax : Karnataka HC grants Cultgear Pvt Ltd refund, pending GST tribunal formation, with a bank guarantee. Liberty to appeal extended til...
Goods and Services Tax : Government of India levies and collects duties and taxes from the taxpayers. However, in specified situations, if any amount, whic...
Goods and Services Tax : Navigate the complexities of GST refunds in India with our comprehensive guide to circulars issued from July 2017 to March 2024. S...
Goods and Services Tax : Explore insights into navigating challenges with GST refunds for exporters in India, focusing on Rule 89(4) and Rule 89(4B). Learn...
Goods and Services Tax : Learn about a Delhi HC ruling entitling taxpayers to 6% interest on delayed GST refunds under Section 56 of the CGST Act. Case ana...
Goods and Services Tax : CBI arrests Superintendent of Central GST & Central Excise in Berhampur for accepting Rs. 15,000 bribe from complainant regarding ...
Goods and Services Tax : While filing Annual Return GSTR-4, if composition taxpayers have deposited excess tax, they will now be able to file for GST refu...
Goods and Services Tax : Processing of Refund application of tax amount of more than Rs 2 Crore:- All the refund applications where the applicant has cl...
Goods and Services Tax : Important GST Update IFSC of below 8 banks are changed due to merger. Taxpayers may update their Bank Account details through non-...
Custom Duty : CBIC has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICE...
Goods and Services Tax : Explore the Bombay High Court judgment in Sanjeev Suresh Desai Vs Union of India. Analysis of refund application rejection and rem...
Goods and Services Tax : Himachal Pradesh High Court overturns rejection of manual GST refund applications, orders reconsideration under Rule 97A for AMN L...
Goods and Services Tax : Dive into the Gujarat High Courts judgment on Vimla Food Products' plea for IGST refund, exploring the legalities, challenges, and...
Goods and Services Tax : Rajasthan High Court ruling requires proper officers to disclose reasons for rejecting GST refund applications, ensuring procedura...
Goods and Services Tax : Explore the Telangana High Court's judgment on interest under Section 54 of the CGST Act, 2017, for delayed refund of Input Tax Cr...
Goods and Services Tax : Learn how exporters can claim refund of additional IGST paid due to price increases post-export. Details on application process an...
Goods and Services Tax : Circular No. 226/20/2024-GST outlines a procedure for refunding additional IGST paid due to upward price revisions post-export. Le...
Custom Duty : Learn about the IGST refund process for certain tobacco product exports, recent updates, and how to address issues. Get insights f...
Goods and Services Tax : CBIC notifies supplies and class of registered person eligible for refund under IGST Route vide Notification No. 05/2023 – Inte...
Goods and Services Tax : Read Circular No. 197/09/2023-GST from CBIC providing clarification on various issues related to GST refunds. Understand the clari...
GSTN Issued Advisory on Tracking GST Refund Application Status on the GST Portal and PFMS portal Initially, the functionality to track the status of GST refund application has been available on the GST common portal at www.gst.gov.in only. Now, the Public Financial Management System (PFMS) of the Controller General of Accounts (CGA) has also made […]
The functionality to track the status of refund application has been available on the GST portal. By utilising this functionality, the taxpayers can know the stage at which the refund application is pending with the tax-officer/ taxpayer.
Under section 16 of IGST Act 2017, exports are considered as zero rated supplies. Zero rated supplies means where the GST burden on both inputs and outputs is zero. This is mainly to make Indian Goods and Services competitive in the international market. GST Act has prescribed ways to achieve this mainly. 1. Export of […]
For Exporter, refund of GST is available under Section 54 of CGST and SGST Act. Refund is available in following cases 1) IGST paid on Zero rated supplies 2) Tax paid on inputs for Zero rated supplies (Export supplies) 3) Inverted Duty Structure 4) If taxable person has paid excess tax by mistake 5) Excess […]
As per 89(4) of CGST Rules, in case of zero rated supply of goods or services or both without payment of tax under bond or letter of undertaking in accordance with the provisions of section 16(3) of the IGST Act, refund of input tax credit shall be granted as per following formula :- Refund Amount […]
Duty Drawback provisions are made to grant rebate of duty or tax chargeable on any imported / excisable materials and input services used in the manufacture of export goods. The duties and taxes neutralized under the scheme are (i) Customs and GST in respect of inputs and (ii) GST in respect of input services. Duty […]
1. Deferment of the new GST return system and e-invoicing to 1st October 2020. The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. 2. Changes in the GST rates GST on mobile phones and specified parts was increased from 12% to 18%. All types of matches have been rationalised to […]
As you are aware, several cases of monetization of credit fraudulently obtained or ineligible credit through refund of Integrated Goods & Service Tax (IGST) on exports of goods have been detected in past few months. On verification, several such exporters were found to be non-existent in a number of cases. In all these cases it has been found that the Input Tax Credit (ITC) was taken by the exporters on the basis of fake invoices and IGST on exports was paid using such ITC.
The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates and date […]
A large number of proprietorship / partnership firms registered with Gautam Buddha Nagar and other Commissionerates of Delhi NCR which were apparently connected and had claimed huge amount of refunds against accumulated Input Tax Credit (ITC) on account of inverted tax structure and Zero-rated supply of Goods were identified.
