Interest on supplementary invoices – Is it still payable under GST regime? By Puneet Bansal, Managing Partner, M/s NITYA Tax Associates WITH maturing commercial understanding between buyers and sellers, commercial contracts often undergo a retrospective price...
Clarifications on GST treatment of sales promotion schemes The Ministry of Finance vide its Circular No. 92/11/2019-GST dated March 7, 2019 clarified GST positions for various sales promotion schemes prevalent in the industry. The gist of various clarifications is as...
Pre-import condition in Advance Authorisation scheme held unconstitutional Since the advent of GST, the Advance Authorisation scheme has been mired with controversies which are yet to settle.The Advance Authorisation Notification (referred in trailing mail) was...
Update on 34th GST Council Meeting dated March 19, 2019 The GST Council in its 34th Meeting held on March 19, 2019, discussed the modus operandi for implementation of lower GST rate of 1 percent on Affordable houses and 5 percent on houses other than Affordable houses...
Update on 34th GST Council Meeting The GST Council in its 34th meeting dated March 19, 2019 discussed the modus operandi for implementation of lower GST rate of 1 percent on Affordable houses and 5 percent on houses other than Affordable houses (‘Other houses’) for...
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