BlogsAugust 8, 2017
CBIC Circular 212 – A cumbersome remedy?
Introduction Offering discounts to recipients is an age-old tradition prevalent in the Indian trade system. Further, such discounts can be broadly classified into (a) Pre-Supply discounts (ie. Discounts offered at the time of supply) and (b) Post-Supply discounts. Pre-supply discounts are reflected in the Tax Invoice itself whereas post-supply discounts...
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CBIC Circular No.211/5/2024-GST dated 26th June 2024 offers Lifeline to ITC availed on delayed payment of Reverse Charge Liability
Introduction: Availement of Input Tax Credit (ITC) has always been a contentious issue. Taxpayers would like to avail most of the ITC whereas the department more often than not would like to challenge the availment of ITC. This tug of war often results in never-ending litigation. Further, the situation is...
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Likely Impact of Recommendations Proposed in the 50th GST Council Meeting
Introduction GST Council met for the record 50th time on 11th July 2023 and deliberated upon various issues faced by the taxpayers as well as tax collectors. Press release issued pursuant to the said meeting is available in the public domain. In this blog, we have made an attempt to...
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Whether tax deposited by the taxpayer during the GST search is eligible for a Refund?
Introduction to Legacy Issue Allegations of overreach by Investigating authorities during Investigation/Search are very common. Many times, the taxpayer/assessee post completion of the search contest such voluntary payments and allege that payments were made owing to extreme/ duress pressure or to safeguard the personal liberty of Directors/Senior executives of...
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Whether violation of E-way Bill provisions renders interstate movement of demo cars (not for sale) exigible to GST?
Background The occasion for writing this article arises from the judgment of the Hon’ble High Court of Madhya Pradesh in M/s KIA MOTORS INDIA PVT LTD Vs THE STATE OF MADHYA PRADESH reported in 2023-TIOL-667-HC-MP-GST. This judgment is likely to generate a good amount of debate amongst professional fraternities and...
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Retrospective GST Registration Cancellation and ITC Woes of the Recipients
Introduction Past few months have seen various overreach of the GST Department. One such overreach relates to retrospective/ab initio cancellation of GST Registration. Such cancellation may adversely affect the ITC (Input Tax Credit) claim of Bonafide Recipients. In this article, our main objective is to thoroughly examine the issue...
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Cross Charge in GST – The Mystery Continues!
This paper was also published in GST Review April 2023, a monthly magazine published by the Goods and Services Tax Practioner’s Association of Maharashtra (GSTPAM). Introduction Recent media reports suggest that two giant FMCG companies have paid a substantial amount of GST on account of ‘cross charge’. Controversial Advance rulings...
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Supply to SEZ, Authorised Operations, and requirement of Endorsement – A Bundle of Tangle
Introduction The idea of Special Economic Zones (SEZ) was conceived to establish specifically delineated duty-free zones where export production could take place free from import and export hindrances. SEZs are deemed Section 53 of the SEZ Act, 2005. international territories for specified purposes. In concurrence with the Indian Government policy...
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Recent NHAI Clarification on GST – Sigh of Relief for Road Contractors
Introduction to HAM Construction of National Highways (NH) and other infrastructure projects are very much instrumental in the growth of our economy but at the same time, it is a very costly proposition. Realising the needs of the Indian economy and budget constraints, road construction projects are jointly developed by...
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