Duty Credit Scrips – Long Awaited Closure The Duty Credit Scrips were introduced with the obvious objective of facilitation of foreign trade and incentivize exporters of goods and services from India. The Duty Credit Scrips were made fully transferable and could be...
Canteen facility at workplace – food for thought remains The taxability of canteen facilities at workplace provided as a free amenity or at subsidized price has been a burning issue since inception. Recently, CBIC vide Circular has clarified few aspects related to...
Proposed time limit for availment of ITC, adjustment of Credit Notes and rectification in GSTR-1 and GSTR-3B As you are aware, the Finance Act, 2022 proposed to change due dates of following GST compliances of any Financial Year (‘FY’) from due date of filing of...
NITYA | Indirect Tax Bulletin | July 2022 | Week 3 In this Weekly Bulletin, we have captured following: Rulings Reopening of the GST Portal for filing of TRAN-1 and TRAN-2 Classification of roof mounted AC for railways Inclusion of cost of diesel provided by recipient...
Supreme Court directs re-opening of GST Portal for 2 months for filing TRAN-1 & TRAN-2 In a landmark move, Supreme Court in the case of UOI v. Filco Trade Center Private Limited, 2022-VIL-38-SC has directed re-opening of GST Portal to carry forward pre-GST...
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