The Central Board of Indirect Taxes and Customs (‘Board’), vide Circular No. 166/22/2021-GST[1] clarified inter-alia, that the time limit of two years for filing a refund application as prescribed under sub-section (1) of section 54 of the Central Goods and Services Tax Act, 2017 (‘Act’), does not apply in cases whereby the refund application is […]
Section 16(4) of the Central Goods and Services Act, 2017 provides that no taxpayer shall take input tax credit in respect records (invoices and debit notes) for supply of goods or services (or both) for Financial Year 2020-21 after due date of furnishing of return for the month of September 2021. In this regard, the […]
In a recent ruling, the Gujarat Authority for Advance Ruling (the ‘GAAR’) in the case of M/s Adama India Private Limited[1] (the ‘Applicant’) observed that CSR activities are excluded from normal course of business of the applicant and therefore not eligible for Input Tax Credit, as per Section 16(1) of the Central Goods and Services […]
We are pleased to share with you the copy of our latest GST Café, which is a briefing on the judgment of the Hon’ble Supreme Court of India in Union of India V VKC Footsteps, where the refund of unutilized input tax credit on account of the rate of input services being higher than outward supplies, cannot […]
A single bench of the Hon’ble High Court of Madras in a recent judgment of Madurai Kamraj University vs. Joint Commissioner[1] held that services provided by a University, including affiliation of colleges and other allied services given to students, are exempted from levy of Service Tax as per Finance Act, 1994. Background: Section 2(a) of […]
The Director General of Foreign Trade (“DGFT”) has kept on hold the issuance of benefits by way of issuance of duty credit scrips under the various export promotion schemes as per the Foreign Trade Policy, 2015-20 vide issuance of a Trade Notice[1] on 8th July, 2021. Background:- Benefits are available to exporters under various schemes […]
