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…
Union minister Nitin Gadkari on Thursday said he has requested Finance Minister Nirmala Sitharaman to expedite processing of tax refunds to businesses "anyhow" within eight days to ease the liquidity crunch being faced by MSMEs during the lockdown. The minister said he was constantly in…
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 has issued Circular No.22/2020-Customs on Circular No.22/2020-Customs w.r.t. IGST refunds on exports-extension in SB005 alternate mechanism SB005 is an error due to Inconsistent Invoice Number between GST Returns and Shipping Bill. Kind reference is invited to Board`s Circulars 08/2018- Cus dt 23.03.2018, 15/2018- Cus…
With businesses moving at a slow pace owing to the novel coronavirus outbreak, the Central Board of Indirect Taxes and Customs (CBIC) has decided to expedite its GST refund process. According to government data dating back to March 30, the CBIC has processed 12,923…
Deputy Chief Minister Dushyant Chautala has assured Confederation of Indian Industry (CII) members that stuck GST refunds of the industry will be processed next week onwards. In his address to CII members through video-conferencing, the Deputy Chief Minister invited the CII to share a plan…
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…
Recent developments under GST vide circular No. 135/05/2020 for matters relating to Refunds has been summarized below Click below to download full circular Circular No.135/05/2020 – GST Dated 31st March, 2020 Clarification Substance Bunching of refund claims across Financial Years On perusal of the provisions…