GST Refund - Page 8

Summary of 39th GST Council Meeting Decisions

Summary of 39th GST Council Meeting Decisions taken on 14th March 2020 1. Related to Interest Liability: – Interest to be charged on Net Cash Liability (retrospective amendment from 01.07.2017) Earlier the department had issued Lacs of Notices involving the Penal Interest running in thousands of crores demanding Interest on Gross Am...

Read More

Top 13 Takeaways of 39th GST Council Meeting

Amid huge expectations from GST council from 39th meeting held on 14.03.2020, GST Council has recommended various changes in GST law to facilitate trade and industry at large. We present to you top 13 takeways from GST council meeting at New Delhi: 1. Interest on delayed payment to be calculated on net GST liability Council […]...

Read More

Outcome of 39th GST Council Meeting held on 14th March 2020

The GST Council in its 39th meeting held on 14th March 2020 at New Delhi discussed and approved: (i) certain amendments in the GST Law and procedures; (ii) Changes related to GST Rates; and (iii) Recommended IT Roadmap   I. Recommendations on IT Roadmap – A presentation was made by Mr. Nandan Nilekani on behalf […]...

Read More

9 Key Highlights of 39th GST Council Meeting

Key Highlights of 39th GST Council Meeting – 14th March, 2020 1. Current return filing system: GSTR-1, GSTR-3B continue till 30th September, 2020. New return filing deferred till 30th Sept, 2020. 2. E-invoicing: E-invoicing Extended till 01st October, 2020. Exempted certain classes of persons from generating E-invoicing. 3. Interest...

Read More

39th GST Council recommendations on Law & Procedures

Press Release ID: 1606430 (14/03/2020)

a. Interest for delay in payment of GST to be charged on the net cash tax liability w.e.f. 01.07.2017 (Law to be amended retrospectively). b. Where registrations have been cancelled till 14.03.2020, application for revocation of cancellation of registration can be filled up to 30.06.2020 (extension of period of application as one-time mea...

Read More

Case registered for fraudulently claiming IGST refunds

DGGI (Hqrs.) booked a case on 06.03.2020 against M/s Aastha Apparels Pvt Ltd & others. Aforesaid companies have fraudulently claimed IGST refunds on export of goods to the tune of more than Rs. 61 Crores....

Read More

Refund Under GST- Scope and Types

Several types of GST refund : Excess payment of tax due to mistake or inadvertence, Excess balance in Electronic Cash Ledger, Export with payment of IGST or under Bond/ LUT, Supplies made to SEZ unit/developer on payment of IGST or under Bond/LUT, Inverted duty structure, Deemed Exports, Persons holding UIN and Miscellaneous refunds...

Read More

GST Refunds under Rule 89(4) Vis-À-Vis Rule 89(4a)/(4b) –An Analysis

1. Manufacturer-exporters before the advent of GST were permitted to procure duty free inputs under the scheme of Advance Authorization as contained under Chapter 4 of the Foreign Trade Policy. Briefly the manufacturer-exporters under the Advance Authorization Scheme were granted upfront exemption from the payment of duties on procurement...

Read More

IGST refund allowed even if CG imported under EPCG Scheme for the period of 01.07.2017 to 12.10.2017

IGST refund allowed even if CG imported under EPCG Scheme for the period of July 1, 2017 to October 12, 2017 The Hon’ble HC, Gujarat in the matter of M/S Prince Spintex Pvt Ltd v. Union of India [R/Special Civil Application No. 20756 of 2018 dated February 3, 2020] allowed refund of IGST paid on […]...

Read More

Problems faced by Tax Professionals of Bhilwara in GST Refund related Work

Tax Bar Association has made a representation Regarding the problems faced by the members of Tax Bar Association, Bhilwara in the work of GST Refund. Problems includes unprofessional attitude of person in charge of GST Refund, Delay in GST Refund Process and Centralised System Of Authority To Approved GST Refund. Tax Bar Association BHILW...

Read More

Browse All Categories

CA, CS, CMA (4,800)
Company Law (6,146)
Custom Duty (7,793)
DGFT (4,244)
Excise Duty (4,368)
Fema / RBI (4,240)
Finance (4,445)
Income Tax (33,448)
SEBI (3,519)
Service Tax (3,564)

Search Posts by Date

July 2020