Implementation of 2nd Phase of faceless e-assessment at Delhi and Mumbai Customs Zones
Vide the trailing mail, we shared an update regarding roll-out of 1st phase of faceless e-assessment under the Customs Turant Scheme. This phase covered goods imported under Chapters 84 and 85 of the Customs Tariff Act, 1975 (‘Customs Tariff Act’) at Bengaluru and...
E-Invoicing – A Taxation and Business reform l Revised Booklet
Recently, the Government has issued Notifications on E-Invoicing. Accordingly, we have updated our booklet (shared vide trailing mail) to capture the relevant changes brought through notifications. The changes have been highlighted in green. NITYA Insight I Issue 161...
Compliance Calendar | August 2020
Please find below relevant due dates for filing returns and undertaking other important activities during August 2020. Returns S. No. Month Returns Due Date 1. June 2020 GSTR-1 (without late fee) August 5, 2020 2. July 2020 GSTR-1...
High Court allows refund on input services under “inverted tax” category, holds restriction in CGST Rules as ultra-vires
In an important judgment in the case of VKC Footsteps India Private Limited v. UOI, 2020-VIL-340-GUJ, the Gujarat High Court held Rule 89(5) of the Central Goods and Services Tax Rules, 2017 (‘CGST Rules’) to be ultra vires of Section 54(3) of the Central Goods and...
Government’s proposals on decriminalization of penal provisions under Legal Metrology law
This is to apprise you regarding recent proposal dated July 13, 2020 issued by the Legal Metrology Division, Ministry of Consumer Affairs to decriminalize penal provisions under the Legal Metrology Act, 2009 (‘LM Act’). Government proposes to apply civil penalties for...
New Initiatives under Customs Turant Scheme
We informed about reforms brought under the flagship Customs Turant Scheme such as electronic communication of Shipping Bill & e-Gatepass and faceless e-assessment at Bengaluru and Chennai. Vide Circular No. 32/ 2020- Customs dated July 6, 2020, CBIC recently...
Classification of Goods Transport Agency service
Under GST law, transportation of goods by road is an exempt supply. The exemption does not apply where such service is provided by Goods Transport Agency (‘GTA’). Vide this Outlook, we are discussing necessary ingredients required for any service to qualify as a GTA...
ITC eligibility on reverse charge supplies procured from registered suppliers
This Outlook intends to apprise you regarding Input Tax Credit (‘ITC’) of tax paid under Reverse Charge Mechanism (‘RCM’) considering restriction prescribed under Rule 36(4) of the Central Goods and Services Tax Rules, 2017 (‘CGST Rules’). At first place, there is no...
GST on services provided by clubs and co-operative societies to its members
This is to apprise you regarding levy of GST on transactions between clubs and co-operative societies vis-à-vis their members. Background The exigibility of tax on services rendered by clubs and co-operative societies to its members has grappled the taxpayers for...
