Goods and Services Tax : Learn how amendments to Section 16 of IGST Act affect zero-rated supplies to SEZ units for authorized operations. Ensure complianc...
Goods and Services Tax : Delve into the legislation and analysis surrounding the availability of Input Tax Credit (ITC) of IGST with insights into statutor...
Goods and Services Tax : Explore the implications of GST on hotels & restaurants in India. Detailed analysis of rate changes, billing procedures, and indus...
Goods and Services Tax : With the financial year 2023-24 approaching its end, ensuring compliance with the GST regulations is crucial. To navigate this pro...
Goods and Services Tax : Explore the impact of Integrated Goods and Services Tax (IGST) on imported goods in India, comparing pre- and post-GST scenarios f...
Goods and Services Tax : Explore the details of CGST, SGST, and IGST collected, IGST settlement to states, and an in-depth study on GST revenue growth. Ins...
Goods and Services Tax : Standard Operating Procedures for Monitoring Ineligible IGST Input Tax Credit Reversal by Taxpayers in Return Form GSTR 3B (SOP-1/...
Goods and Services Tax : Explore the Ministry of Finance latest report on GST revenue collection in October 2023. Discover detailed analysis, state-wise fi...
Goods and Services Tax : In July 2023, India's GST revenue collection reached ₹1,65,105 crore, marking an 11% YoY growth. Domestic transactions saw a 15%...
Goods and Services Tax : 1. IGST exempted on Import of drug used for treatment of black fungus IGST exempted on import of Amphotericin B (the drug required...
Goods and Services Tax : Madras High Court quashes GST demand against Tvl. Urayur Cotton Company due to failure to consider the petitioner's reply on circu...
Goods and Services Tax : Calcutta HC rules IGST credit wrongly claimed instead of CGST and SGST need not be reversed. Key details on the Cosyn Limited case...
Goods and Services Tax : Read how Kerala HC granted interim exemption to a mother for importing medicine for her child suffering from SMA, exempting her fr...
Goods and Services Tax : Allahabad High Court raps GST Dept for inconsistent approach towards unutilized ITC refund claims, grants relief to Samsung India ...
Service Tax : Bombay High Court rules in favor of Sanathan Textile Pvt Ltd, stating no service tax is liable on ocean freight. Read the detailed...
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 : Ministry of Finance amends IGST rates for railway services. Notification No. 04/2024 details tax exemptions for various services. ...
Goods and Services Tax : Explore the key amendments in Notification No. 03/2024-Integrated Tax (Rate), effective from 15th July 2024, focusing on agricultu...
Goods and Services Tax : CBIC's Notification No. 02/2024 reduces GST rates on cartons, milk cans, and solar cookers from 18% to 12%. Effective from 15th Ju...
Custom Duty : Explore the latest changes under Notification No. 28/2024-Customs issued by the Ministry of Finance, impacting customs duties and ...
Amendment in IGST rate on specified handicraft items WEF 01.01.2022 vide Notification No. 20/2021-Integrated Tax (Rate), Dated: 28.12.2021 by amending Notification No. 22/2018-Integrated Tax (Rate), dated the 26th July, 2018. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 28th December, 2021 Notification No. 20/2021-Integrated Tax (Rate) G.S.R. 899(E).— In exercise of the powers conferred by […]
IGST: CBIC notifies amendment in list of exempt goods wef 01.01.2022 vide Notification No. 19/2021-Integrated Tax (Rate), Dated: 28.12.2021 by amending Notification No. 2/2017-Integrated Tax (Rate), dated the 28th June, 2017 MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 28th December, 2021 Notification No. 19/2021-Integrated Tax (Rate) G.S.R. 896(E).— In exercise of the powers conferred […]
CBIC notifies changes in IGST Rate on Goods wef 01.01.2022 vide Notification No. 18/2021-Integrated Tax (Rate), Dated: 28.12.2021 by amending Notification No.1/2017-Integrated Tax (Rate), dated the 28th June, 2017. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 28th December, 2021 Notification No. 18/2021-Integrated Tax (Rate) G.S.R. 893(E).—In exercise of the powers conferred by sub-section […]
Officers of CGST Commissionerate, Bengaluru West detected a case of import of PV Inverters without payment of IGST and Customs Duty against Advance Authorization. The manufactured PV Inverters were then exported on payment of IGST and a refund of the same was claimed. The entire amount of the erroneously availed refund of more than Rs. 40 Crore has since been recovered.
Held that the refund towards the IGST paid in respect of the goods exported i.e. zero rated supplies, vide the shipping bills ought to have been completed as the two circumstances provided in sub clauses (a) & (b) of Clause (4) of Rule 96 of Rules, 2017 do not exist. The shipping bills, as per Rule 96, exporter once file are deemed to be an application for refund of Integrated tax paid on the exports of goods and withholding of the same is made permissible under Rule 96 (4) when read with Section 54 as specified in the decision of Amit Cotton Industries.
1. IGST exempted on Import of drug used for treatment of black fungus IGST exempted on import of Amphotericin B (the drug required for treating Mucormycosis fungal infection) if imported either free of cost or on payment basis and meant for donating to government or any other relief agencies on the recommendation of State Authority […]
In re Portescap India Private Limited (GST AAR Maharashtra) Q1. Whether Portescap India Pvt. Ltd. is required to pay tax under reverse charge mechanism on procurement of renting of immovable property services from Seepz Special Economic Zone Authority (Local Authority) in accordance with Notification No. 13/2017 dated 28th June, 2017 read with Notification No. 03/2018 […]
GST collection for October 2021 registered the second highest since implementation of GST ₹ 1,30,127 crore gross GST revenue collected in October Revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20 The gross GST revenue collected in the month of […]
Seeks to amend Notification No 14/2017- Integrated Tax (Rate) dated 28.06.2017 MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th November, 2021 Notification No. 17/2021-Integrated Tax (Rate) G.S.R. 814(E).—In exercise of the powers conferred by sub-section (5) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, […]
Seeks to amend Notification No 9/2017- Integrated Tax (Rate) dated 28.06.2017. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th November, 2021 Notification No. 16/2021-Integrated Tax (Rate) G.S.R. 811(E).—In exercise of the powers conferred by sub-section (3) and sub-section (4) of section 5, sub-section (1) of section 6 and clause (xxv) of section 20 […]
