GST Circulars Archives | Page 3 Of 5

GST Circulars

Verification of IGST Refund
GST Refund
CA. Sachin Jindal

CBIC introduces additional safeguards for verification of IGST refunds on exports with payment of tax

In order to make India’s exports competitive in the global markets and in line with the principles of international trade and commerce of zero-rating exports, the GST and customs laws have provisions on place for grant of refunds in case of input taxes paid on exported goods.  On similar lines, the GST law also has an alternative route to benefit the exporters – ‘export of goods with payment of taxes’, wherein the taxes paid on sale would be refunded. In line with this initiative, the Central Board of Indirect Taxes and Customs (‘CBIC’) has brought in several exporter friendly and

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Verification of Transitioned Credit
GST Circulars
CA. Sachin Jindal

Verification of Transitioned Credit – Snapshots

CBEC has issued a detailed circular no. D.O.F. No. 267/8/2018-CX.8 on Verification of Transitioned Credit to GST through Form TRAN-1. Key aspects are stated below:  Credit verification to be remain the primary focus area during Fy 18-19. Credit verification to take place by CGST authorities even if the jurisdiction is with state Credit of KKC/SBC/E cess is not eligible Each line wise data in Tran-1 to be verified in detail Supporting documents and other info to be sought from assessee Credit taken in excess of INR 25 Lakhs is being verified  List of 50000 assessee is being targeted for initial verification

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Taxability Of Tenancy Rights Under GST
GST Circulars
CA. Kapil Mittal

Issue Related To Taxability Of Tenancy Rights Under GST

Doubts have been raised as to,— (i)  Whether transfer of tenancy rights to an incoming tenant, consideration for which is in form of tenancy premium, shall attract GST when stamp duty and registration charges are levied on the said premium, if yes what would be the applicable rate? (ii) Further, in case of transfer of tenancy rights, a part of the consideration for such transfer accrues to the outgoing tenant, whether such supplies will also attract GST? 2. The issue has been examined. The transfer of tenancy rights against tenancy premium which is also known as “pagadi system” is prevalent in some States.

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Inspection of Goods In Movement, Detention, Release And Confiscation
Eway Bill
CA. Kapil Mittal

Procedure for interception of conveyances for Inspection of Goods In Movement, Detention, Release and Confiscation

With reference to circular no 41/15/2018-GST, procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation of such goods and conveyances has been prescribed. 1. Who can be Proper officer for interception of conveyances for inspection Jurisdictional commissioner or an officer authorised by him for this purpose shall, by an order, designate an officer/officers as the proper officer/officers to conduct interception and inspection of conveyances and goods in the jurisdictional area specified in such order. 2. Verification of Conveyance by Proper officer interception of conveyances for inspection Proper office so authorised, can intercept and

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CLARIFICATION-ON-ISSUES-RELATING-TO-REFUND
GST Refund
CA. Sachin Jindal

CLARIFICATION ON ISSUES RELATING TO REFUND

Various representations have been received seeking clarification on issues relating to refund. In order to clarify these issues and to ensure uniformity in the implementation of the provisions of law across the field formations, the Board, in exercise of its powers conferred by section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as “CGST Act”), hereby clarifies the issues as detailed. 1. Submission of invoices for processing of claims of refund Now no need to submit copies of invoices (either original or duplicate). Refund claim shall be accompanied by a print-out of FORM GSTR-2A

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Issues Related to SEZ and Refund of Unutilized ITC to fabric processors
GST Refund
CA. Sachin Jindal

Circulars Clarifying Issues Related to SEZ and Refund of Unutilized ITC for Job Workers Circular No. 48/21/2018-GST

Representations have been received seeking clarification on certain issues under the GST laws. Further clarification has been asked with respect to Refund of Unutilized ITC to fabric processors. The same have been examined and the clarifications on the same are as below: Whether services of short-term accommodation, conferencing, banqueting etc. provided to a Special Economic Zone (SEZ) developer or a SEZ unit should be treated as an interState supply (under section 7(5)(b) of the IGST Act, 2017) or an intra-State supply (under section 12(3)(c) of the IGST Act, 2017)?  1.1 As per section 7(5) (b) of the Integrated Goods and

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Minor Mistake in eway bill
Eway Bill
CA. Kapil Mittal

No Detention and seizure of goods for minor mistake in eway bill

Sec 129 provide for detention and seizure of goods and conveyances and their release on the payment of requisite tax and penalty in cases where such goods are transported in contravention of the provisions of the CGST Act or the rules made thereunder. Now, for minor mistake in eway bill, action under section 129 will not be taken. It has been informed that proceedings under section 129 of the CGST Act are being initiated for every mistake in the documents. It is clarified that in case a consignment of goods is accompanied by an invoice or any other specified document

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Principal Agent relationship under GST
GST Circulars
CA. Sachin Jindal

Clarification on Principal Agent relationship under GST

The supply of goods by an agent on behalf of the principal without consideration has been deemed to be a supply. In this connection, various representations have been received regarding the scope and ambit of the principal-agent relationship under GST. Relevant entry of Schedule 1 – 3. Supply of goods— by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; or by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal.  Hence, all the activities between the principal and the agent and vice

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Refund of Input Tax credit on account of Inverted Duty Structure to Textile sector
GST Refund
CA. Sachin Jindal

Refund of Input Tax credit on account of Inverted Duty Structure to Textile sector

Clarification has been brought with respect to provision ITC refund to textile sector and for lapsing of input tax credit accumulated on account of inverted duty structure on fabric for period upto 31st July 2018 as per notification no- 20/2018 dt. 26th July 2018. Following clarification has been provided in circular 56/2018 dated 24th August 2018 In terms of amendment notification, the input tax credit only on account of inverted duty structure lying in the balance after payment of GST for the month of July (on purchase made on or before the 31st July 2018) shall lapse. Determination of ITC amount to be lapse

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Manner of Utilisation of ITC
Input Tax Credit
CA. Sachin Jindal

Order of Utilisation of Input tax credit

Input Tax Credit (“ITC”) is a fundamental concept of Goods and Service Tax (“GST”). GST is levied in 3 forms viz. Integrated Goods and Service Tax (“IGST”), Central Goods and Service Tax (“CGST”) and State/Union Territories Goods and Service Tax (“SGST/UTGST”). GST portal maintains separate ITC accounts for all such forms of GST, i.e., GST input on account of IGST gets credited into ITC ledger of IGST. Similar process is applicable for CGST & SGST/UTGST also. As separate accounts are maintained for all type of GST, it is pertinent to get clarity about order and manner of utilisation of ITC.

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