Refund under GST – Recent clarifications
In furtherance to earlier update wherein we shared latest practice and procedure clarified by Circular No. 125/44/2019-GST dated November 18, 2019 (‘Circular 125’), CBIC has issued further clarifications vide its recent Circular No. 135/05/2020-GST dated...
Advance Ruling under GST – Confusions galore
Certainty and predictability are essential pillars of a good taxation system. Unfortunately, the tax legislations are marred by numerous interpretational issues leading to unintended disputes between taxpayers and tax administration. One of the prevalent...
Legislative changes under GST, other Indirect Taxes, Foreign Trade Policy and Legal Metrology law amid COVID-19 outbreak
During COVID-19 outbreak, first and foremost, our hearts go out to anyone impacted by the virus either directly or indirectly. Our thoughts are especially with the ones who are sick and we extend our heartfelt wishes for their speedy recovery. We are truly...
Compliance Calendar | April 2020
Amidst COVID-19 outbreak, all due dates of GST compliances, falling between March 20, 2020 and June 29, 2020 have been extended to June 30, 2020, and we have covered the same in our update NITYA’s Insight | Issue 107 | Recent Notifications, Circulars and...
Recent changes in CGST Rules relating to export of goods and refund thereof
In furtherance to previous update wherein we shared recent notifications issued post 39th GST Council meeting, the following key changes have been made in the Central Goods and Services Tax Rules, 2017 (‘CGST Rules’):Value of zero-rated supply of goods...
Recent Notifications, Circulars and announcements in Indirect Taxes issued post 39th GST Council meeting and COVID-19 outbreak
The GST Council in its 39th GST Council Meeting held on March 14, 2020, recommended various changes under GST. The Government has recently issued various Notifications to give effect to these changes.Moreover, amidst COVID-19 outbreak, the Hon’ble Finance...
Judgment Update | Non-inclusion of AMP expenses in the assessable value of imported goods
The recent decisions rendered by the CESTAT regarding non-inclusion of Advertising, Marketing and Promotional (‘AMP’) expenses in the assessable value of imported goods.The bone of contention of department in these cases was whether AMP expenses incurred...
Judgment update | Reduction in tax incentives under GST regime, issue of promissory estoppel
Recent decision of Delhi High Court in the case of Hero Motocorp Limited v. Union of India, 2019-VIL-109-DEL. In this case, the petitioner challenged the Budgetary Support Scheme under GST law that granted reduced fiscal incentive as compared to 100...
THE GREAT INDIAN TRADE WALL: A CASE OF MEASURED PROTECTIONISM – ANALYSIS OF INTERNATIONAL TRADE MEASURES IN BUDGET 2020
The Union Budget 2020 may not be remembered as an epochal budget like Budget 1991, but it will certainly be remembered for effecting a tectonic shift in the nation’s policy towards international trade. The Government aims to augment domestic value addition...
