CBIC issued guidelines to be followed by CGST field officers while investigating to maintain ease of business

News and Announcements

CBIC issued guidelines to be followed by CGST field officers while investigating to maintain ease of business

Investigations, summon, letters from GST Authority has become common in business from last sometime and there are many practical issues which comes alongwith these communication. GST investigations are at many times hampering regular business activities as well. Further, there are many practical issues being faced by the GST Authorities as well as taxpayer such as prior approval, simultaanoues investigation by more than one GST authority, uncessary information asked etc.

16/04/2024

Returns

GST Portal may facilitate revision of GST returns

Concept of revision of Tax returns is a very usual and vital part of the tax system as it allows taxpayers to rectify unintentional errors made while filing tax returns. Every tax system including income tax provides a facility to revise tax returns upto specified time period. Under pre-GST regime as well, taxpayers were available with the option file revised VAT, Central Excise and Service Tax return. However, Goods and Service Tax has not yet provided that facility to revise GST returns to the taxpayers.

07/02/2024

CBIC (Central Board of Indirect Taxes and Customs)

Judgements

CBIC issued instruction on issuance of Show Cause Notice on employee Secondment pursuant to NOS Judgment

The Department has showered the Industries with Show Cause Notices, issued in Form DRC-01, as the last date of issuance of SCN was 30th September, 2023 for FY 2017-18 and 31st December, 2023 for FY 2018-19. One of the major grounds on which thousands of MNCs were served with Show Cause Notice was the taxability of Secondment of employees in Indian Company by Foreign Holding Company.

09/01/2024

GST on reimbursement of Electricity charges

Notification

GST on reimbursement of Electricity Charges| Clarification and Issues around

GST has recently come up with a very brief clarification on this matter through Circular No. 206/18/2023-GST dated 31st october, 2023. This article contains a detail discussion on applicability of GST on reimbursement of electricity charges:

12/12/2023

Personal Guarantee and Corporate Guarantee

Notification

Taxability of Personal Guarantee and Corporate Guarantee under GST| Clarified by CBIC

Providing guarantee is a very common part of business finance wherein one person provides guarantee to the bank or financier on behalf of the other person for securing loan or credit facility. In some cases, commission is paid as a consideration for providing guarantee. CBIC has received various representations with respect to applicability of GST on personal guarantee provided by Director to the bank for granting credit facility to the company or corporate guarantee provided by the company on behalf of its sister concern or subsidiary company.

28/11/2023

Guidelines for processing of GST Registration Application| Instruction No. 03/2023- GST

News and Announcements

Guidelines for processing of GST Registration Application| Instruction No. 03/2023- GST

A further step in this direction, CBIC has issued instructions to the GST officials to become more digital at the initial stage itself of GST registration itself. Most of the bogus firm registration can be avoided at this point only. For this purpose, a detailed instructions are issued vide Instructions No. 03/2023-GST dated 14th June, 2023.

19/06/2023

Extension of Threshold for e-invoice| Automation of GST returns| Time limit of GST Scrutiny and other GST updates

Goods and Service Tax

Extension of Threshold for e-invoice| Automation of GST returns| Time limit of GST Scrutiny and other GST updates

The GST Department and CBIC keeps on issuing various notifications, circulars and instructions on small and big matters for ease of industries. Similarly, various updates are also made on GST portal to make the GST portal more automated and integrated with other portals.

22/05/2023

Council Meetings

Takeaways from 48th GST Council Meetings

In the 48th GST Council meeting, the GST council suggested changes in GST rates of certain products, clarified GST rates applicable, decriminalization of certain offenses under GST, rationalization of GST provisions, etc.

19/12/2022

GST Refund

Revised procedure of granting IGST Refund to Risky Exporters

CBIC has issued a detailed instruction on Revised procedure of granting IGST Refund to Risky Exporters. The board has made changes in the SOP prescribed earlier vide Instructions No. 04/2022-GST dated 28th November 2022.

05/12/2022

CBIC can’t modify scope of Exemption Notification

Judgements

CBIC can’t modify scope of Exemption Notification

Hon’ble CESTAT stated that exemption notification is issued by Central Government in the exercise of power given under section 93 of the Finance Act, 1994. Exemption notification is approved after obtaining approval from both houses of parliament. However, no power is extended to CBIC to modify the scope of the exemption notification. Therefore, conditions attached by CBEC to exemption issued by the Central Government are illegal, unauthorized, and of no effect.

29/11/2022

Archives

CBIC issued guidelines to be followed by CGST field officers while investigating to maintain ease of business

GST Portal may facilitate revision of GST returns

CBIC issued instruction on issuance of Show Cause Notice on employee Secondment pursuant to NOS Judgment

GST on reimbursement of Electricity Charges| Clarification and Issues around

Taxability of Personal Guarantee and Corporate Guarantee under GST| Clarified by CBIC

Guidelines for processing of GST Registration Application| Instruction No. 03/2023- GST

Extension of Threshold for e-invoice| Automation of GST returns| Time limit of GST Scrutiny and other GST updates

Takeaways from 48th GST Council Meetings

Revised procedure of granting IGST Refund to Risky Exporters

CBIC can’t modify scope of Exemption Notification

Categories

Recent Posts

Let us help you

Contact us

Our Services

Working Time

For You

Quick Links

Ask Us

Industries We Serve

Contact Us