Relevant Provisions Schedule III of the CGST Act, 2017 contains activities or transactions which shall neither be treated as supply of goods nor a supply of services Entry No. 1 of the same schedule has been mentioned below for reference “Services by an employee to…
CBIC Vide Circular No. 139/09/2020 dated 10th June, 2020 has clarified in respect of invoices which are not appearing in the GSTR-2A of Applicant who has filed refund application on account of accumulated ITC, The clarification has been issued to ensure uniformity in the implementation…
Circular No.138/08/2020 dated 06th May, 2020 provides as follows Issues related to Insolvency and Bankruptcy Code, 2016 Time limit for Registration by IRP/RP shall be 30 days from his/her appointment or 30th June whichever is later Relevant posts for understanding concept of IRP and GST…
Case Study: Procedure to be followed for Activity of sending / taking the goods out of India for exhibition or on consignment basis (hereinafter referred to as said activity) for export promotion. Such goods sent / taken out of India crystallise into exports, wholly…
CBIC wide Circular No. 113/32/2019-GST Dated,11th October, 2019 has Clarified various Representations in respect of Classification and applicable GST rates on the following items: (i) Classification of leguminous vegetables such as grams when subjected to mild heat treatment Thus, it is clarified that such leguminous…
Taxability in GST and Service Tax Services proved by the Government to business entities including by way of grant of privileges, licences, mining rights, natural resources such as spectrum etc. against payment of consideration in the form of fee, royalty etc. are taxable under…
Clarification in respect of certain challenges faced by the registered persons in implementation of provisions of GST Laws- Vide Circular Number 137/07/2020-GST Dated 13th April, 2020 Issue Clarification An advance is received by a supplier for a Service contract which subsequently got cancelled. The supplier…
Standard Operating Procedure (SOP) to be followed by exporters Exporters to follow SOP, Central Board of Indirect Taxes and Customs (CBIC) has issued a detailed circular on 23rd January, 2020 which reads as follows As you are aware, several cases of monetisation of credit…