Service Tax Implications on Notice Pay
The recent decision of CESTAT Allahabad in the case of HCL Learning Limited v. Commissioner of CGST, Noida, 2019-VIL-739-CESTAT-ALH-ST.In this case, the authorities demanded Service Tax on the amount recovered by taxpayer from its employee’s salary on...
Refunds under GST- Latest Practice and Procedure
Timely refund mechanism is essential in a tax administration as it facilitates trade through liquidation of working capital and modernization of existing business. The Government in recent times has made changes on its online portal to streamline and...
Supreme Court disallows filing of writ petitions before High Courts against seizure orders
The recent judgment of the Supreme Court in the case of State of Uttar Pradesh v. Kay Pan Fragrance Private Limited, 2019-VIL-39-SC. In this judgment, the Court was dealing with multiple cases where the Proper Officer seized the goods due to improper...
GST rate change on job-work services
With effect from October 1, 2019, the rate of GST on job-work services have been amended vide Notification No.20/2019-Central Tax (Rate) dated September 30, 2019 (‘Amendment Notification’). Through this update, we would like to apprise you the implications of this...
ITC on air tickets – Process of obtaining airline GST invoices
Air travel forms a significant expense for all business entities. While the companies invariably communicate their air-travel agents to put companies’ GSTIN at the time of booking tickets, the companies generally do not possess airline GST...
Discrediting the credit: A discussion on the transition of credit of cesses under GST
The transitional provisions under Goods and Services Tax (‘GST’) regime have been the quintessential problem child since inception, perplexing taxpayers, government, and Courts alike. The government compounded the problems by issuing multiple FAQs and...
A test of time validity of time – Limit for transition of Pre-GST credits
In the absence of a robust Information Technology (‘IT’) platform, a large number of taxpayers failed to timely file the transitional forms. Accordingly, the first set of litigation which came to fore under the GST regime was non-filing of transitional...
Amendment in Foreign Trade Policy (‘FTP’) |Deemed exports eligible for All Industry Rate of Duty Drawback Schedule
Vide this amendment, the Government has allowed a supplier making deemed exports to claim duty drawback as per All Industry Rate (‘AIR’) Schedule. We have tabulated below the implications of this amendment during different periods: Para No. ofFTP...
Recent developments impacting Export Incentives and International Trade
Dispute on Export IncentivesOn October 31, 2019, the dispute settlement panel of World Trade Organization (‘WTO’) held that various export incentives offered by India like MEIS, EPCG etc. are violative of WTO’s Subsidies and Countervailing Measures...
