The GST council received various representations to clarify scope of “Intermediary” service and therefore, in the 45th GST Council meeting, the GST council recommended CBIC to issue the necessary clarifications to resolve this matter to the extent possible.
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.
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.
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.
In the matter of M/s Honeywell Automation India Ltd. vs. Commissioner of Trade & Taxes, Delhi (Appeal No: 08-11/ATVAT/2019)
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:.
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.
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.
If Supplier defaults in payment of taxes then primary liability lies with supplier and ITC is not reversible by the recipient
GST paid on outward supply at reduced rate by claiming exemption notification| ITC accumulated can’t be refunded under “Inverted Duty Structure
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