NITYA | Indirect Tax Bulletin | July 2022 | Week 2 In this Weekly Bulletin, we have captured following: Rulings Application of Supreme Court’s suo moto limitation extension order to GST refunds Absence of proper Show Cause Notice Supply of system with installation...
Inverted Duty Structure – Anomalies removed, but is it enough? Inverted Duty Structure refund has seen its fair share of disputes under GST. Recently, GST Council made an amendment in refund formula and such change will definitely be favorable to taxpayers. However,...
Interest on ITC: Retrospective amendment and journey ahead! GST has been a game of trial and error wherein slew of debatable issues have been ironed out by way of prospective and retrospective amendments in the past five years. Levy of interest under GST has been a...
GST Implications on Merchant Trading Transactions executed prior to February 2019 We intend to apprise you on recent dispute being raised by revenue regarding GST implications on Merchant Trading Transactions (‘MTT’) executed prior to February 2019. MTT is a common...
NITYA | Update on 47th GST Council Meeting – 3rd Edition GST Council concluded its 47th Meeting on June 29, 2022, proposing a long list of amendments and clarifications. Recently, several Notifications and Circulars have been issued to give effect to the decisions...
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