Knowledge Base

Briefing on 45th GST Council Meeting| GST Update
The GST Council met for the 45th Time on 17th September 2021 under chairmanship of the Hon’ble Finance Minister. In the 45th GST Council meeting, Major decisions were taken around the revision of GST rates on various goods such as COVID-related medicines, Paper Products, Waste of plastic, etc., and various other services also. Recommendations are also made around streamlining compliance under GST.
By CA. Sachin Jindal
Last update on September 21,2021
Export through Courier| IGST Refund process through ECCS Application (Express Cargo Clearance System)
Shipping bill filed for export of goods is automatically considered as Refund application and upon processing of shipping bills on IECGATE, the system will automatically process the refund of IGST.
By CA. Sachin Jindal
Last update on September 17,2021
Income Tax Due Dates Extension for AY 2021-22
CBDT has decided to extend the due date of filing of various income tax returns and audit reports for FY 2020-21 (A.Y. 2021-22) vide Circular No. 17/2021 dated 9th September, 2021.
By CA. Kavit Vijay
Last update on September 10,2021
GST on Contribution made by RWA members| Exemption is available upto INR 7,500
No GST is applicable on contribution received upto INR 7,500 and in case of contribution received in excess of INR 7,500, GST would levy only on additional amount.
By CA. Sachin Jindal
Last update on September 10,2021
"Write-off" of unrealized export bills – Export of Goods and Services – Simplification of procedure
Reserve Bank of India has prescribed various rules and regulations for writing of unrealised export bills.
By CA. Kapil Mittal
Last update on September 10,2021
Demand order passed without giving opportunity of being heard is liable to be set aside
An opportunity of hearing shall be granted where a request is received in writing from the person chargeable with tax or penalty, or where any adverse decision is contemplated against such person.
By CA. Kapil Mittal
Last update on September 6,2021
ITC under DVAT Can’t be disallowed to bonafide purchasing dealer even if such ITC are not appearing in Annexure-2B
In the matter of M/s Honeywell Automation India Ltd. vs. Commissioner of Trade & Taxes, Delhi (Appeal No: 08-11/ATVAT/2019)
By CA. Sachin Jindal
Last update on September 6,2021
Overseas commission Agent | Not chargeable to GST under RCM
The applicant is not required to pay GST on RCM basis under section 5(3) of the IGST Act, 2017 on commission paid to the “Overseas Commission Agent:.
By CA. Kapil Mittal
Last update on August 24,2021
No interest is payable on tax liability paid through balance lying in Electronic Credit Ledger
In the given case, M/s F1 Auto Components P ltd (“The Petitioner”) received an order wherein tax liability was paid through balance lying in electronic Credit Ledger and remaining amount was paid through cash remittance. However, the respondent levied interest on both payments under Section 50.
By CA. Kapil Mittal
Last update on August 12,2021
Statement-3 & 3A| Annexure to GST Refund application in form GST RFD-01
Under Goods and Service Tax (“GST”), refund is admissible on various grounds. Refund application is filed in form GST RFD-01 and different supporting documents are required to be filed along with refund application for different type of refund applications. Any deviation in supporting documents can lead to rejection of a refund application.
By CA. Vipin Tyagi
Last update on August 12,2021



Want to talk to us

Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118

V J M & Associates LLP

Contact Us

X