Central Board of Indirect Taxes (“CBIC”) has notified Central Goods and Service Tax (Fourth Amendment) Rules, 2021 vide Notification No. 15/2021-Central Tax dated 18th May, 2021 to make amendment in provisions related to Revocation of Cancellation of GST Registration and Refund under GST.
GST paid on outward supply at reduced rate by claiming exemption notification| ITC accumulated can’t be refunded under “Inverted Duty Structure
If Supplier defaults in payment of taxes then primary liability lies with supplier and ITC is not reversible by the recipient
Hon’ble High Court held that the word “inquiry” written under section 70 and word “proceedings” written under section 6(2) are different in meaning and cannot be intermixed.
The GST Policy Wing of the Government of India passed a set of notifications under S.168A of the CGST Act, 2017 whereby the time limits and limitation period of various activities and actions of different authorities on multiple issues were specified and extended to certain dates based on the nature of the activity.
ITC should be granted on the original amount of input used notwithstanding that the entire amount of input would not figure in the finished product. Therefore, Hon’ble High Court held that loss due to inherent nature of manufacturing process is not covered under Section 17(5)(h) of CGST Act, 2017 and impugned order is liable to be set aside.
An online platform for E-personal hearings. This is built for the Adjudicating Authority and is the process that is to be held after the issuance of DRC-01/02 (Show Cause Notice/Statement of Demand) to meet the principles of natural Justice.
The GST Council in its 43rd meeting held on 28th May 2021 at New Delhi took
the important decisions related to changes in GST interest and penalties for late filing of GST returns.
In case of closure of business or dissolution of business due to death of proprietor or winding up of Company, mere surrendering a GST registration is not sufficient.
In case of death of sole proprietor, if the business is intended to be carried on by the successor or legal heir, the successor cannot do so using the same GST registration since he will have a different PAN.
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