Gulf Turbo Solutions LLP (hereinafter referred to as the ‘Applicant’) is in the business of service and repairs of various types of turbochargers. It also supplies spare parts required for turbochargers and ship spares.
if you are one of the exporters who is bearing a tag of risky exporters and your refund is put on hold by the GST Authority then this article may help you to resolve this issue.
A lot of benefits are provided for “Export” of goods or services. However, various conditions are required to be fulfilled to qualify a transaction as “Export”. Similarly, to qualify a supply of service as “Export of service”, five conditions are provided under Section 2(6) of IGST Act, 2017. However, one of the conditions given in clause (v) of Section 2(6) of IGST Act is always covered with lots of ambiguity. Considering the representations received, GST Council in 45th GST Council meeting recommended CBIC to issue necessary clarification around condition (v) of Section 2(6) of IGST Act, 2017. Therefore, CBIC issued
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.
Reserve Bank of India has prescribed various rules and regulations for writing of unrealised export bills.
Central Board of Indirect Taxes and Customs (“CBIC”) has issued a clarification vide Circular No. 52/2020- Customs dated 27th November, 2020, on the query whether gems and Jewellery is allowed to be exported through courier by the Gems and Jewellery Export Promotion Council.
Three protocols are based on the Domain Name System (DNS). SPF, DKIM, and DMARC are protocols for standard email signatures which meet various safety issues. To ensure best protection, all three systems should be implemented.
Delhi high court ruled that GST department can not issue deficiency memo after 15 days from the date of Refund application. Which means a refund application can not be rejected on the ground of deficiency in documents if the department does not issue deficiency memo within 15 days.
Several goods exporters across the country could not avail of their ITC refund for a period of July 17 to September 17. The reason being the GST refund where higher drawback claimed a higher rate of drawback, this has been a major concern for the whole exporter community. Already many have faced losses as the GST department rejected the refund claim relying on the 37/2018 circular. Several cases have been registered by exporters on the same. In one of such cases, the Madras High Court has given their verdict in favour of the exporter. In the case of M/S. PRECOT
CBIC clarifications that processing of GST refund should not be held up and processed by authority where the application has been wrongly allocated by the system. The Central Board of Indirect Taxes and Customs (‘CBIC’) vide Circular No. 104/23/2019-GST dated 28 June 2019 has clarified the authority who is required for Processing GST refund wrongly allocated applications of taxpayers in cases of incorrect mapping. The division of taxpayer base between the Centre and States to ensure a Single Interface under GST is critical to ensure the smooth and seamless flow of business operations. 1. Issues The GST refund applications filed
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
Keep up to date — get updates with latest topics. Signup for our newsletter today.
We serve on FDI advisory, cross-border accounting, International tax planning and Management consulting needs of our overseas clients all over the world.
Corporate Office: 601, 6th Floor, GMIT Park, Sector 142, Noida Exp Way, Noida – 201305
Registered Office: 44, Backary Portion, 2nd Floor, Regal Building, New Delhi 110001
Landline: 0120-4415477-78
info@vjmglobal.com
+91 9891576441, 9213397070, 9911887030
Mon – Fri: 09:00am – 06:00pm
Closed on Weekends
V J M & Associates LLP