Update on 47th GST Council Meeting
GST Council concluded its 47th Meeting on June 29, 2022 after a gap of 6 months. The common theme running through most of the proposals appears to be of increasing revenue collection. Further, expectations for clarity on GST on Ocean Freight (amidst much-talked about...
NITYA | Indirect Tax Bulletin | June 2022 | Week 3
In this Weekly Bulletin, we have captured following: Rulings Classification of parts of motor vehicle Cenvat credit on CSR expenses Other Updates Instructions relating to sanction, post-audit and review of refund claims Please click on the below link to NITYA |...
Reflection of same invoices in GSTR-2B for April 2022 and May 2022 due to technical glitch on GST Portal
We apprised you about non-reflection of all invoices in GSTR-2B of April 2022 due to technical glitch on GST Portal. GSTN has again issued an advisory stating that GSTR-2B of April 2022 and May 2022 are reflecting same invoices. The advisory has directed the taxpayers...
NITYA | Indirect Tax Bulletin | June 2022 | Week 2
In this Weekly Bulletin, we have captured following: Rulings Exclusion of exempt supplies from formula for computing refund of Compensation Cess on export goods Applicability of Unjust Enrichment where export consideration reduced to extent of refund Other Updates...
NITYA | Indirect Tax Bulletin | June 2022 | Week 1
In this Weekly Bulletin, we have captured following: Rulings Refund of IGST on export goods on account of subsequent price increase Cross-charge of ITC to other Units in absence of support service Please click on the below link to NITYA | Indirect Tax Bulletin 2022 |...
ITC eligibility on mandatory facilities for women workers working in factories in night shifts
We intend to apprise you regarding availability of ITC on goods and services mandated to be provided by the employers and recent Government Policies issued in this regard: Recently, the Uttar Pradesh Government vide Notification No. 647/XXXVI-3-2022-17(sa)/2022 dated...
NITYA | Indirect Tax Bulletin | May 2022 | Week 4
In this Weekly Bulletin, we have captured following: Rulings Rejection of output refund claim due to incorrect reporting in GSTR-3B Denial of ITC due to retrospective cancellation of suppliers’ GST registration Mandatory adherence to pre-SCN consultation Qualification...
Budgetary allocations for RoDTEP Scheme – imminent concerns
We kept you updated on various developments pertaining to RoDTEP Scheme. In this issue of NITYA Outlook, we are highlighting a looming concern which exporters should keep in mind in context of this Scheme. Para 4.54 of Foreign Trade Policy, 2015-20 (‘FTP’) contains...
Service Tax on secondment of employees: Unsettling the settled!
In another landmark move, Supreme Court in case of CC,CE&ST v. Northern Operating Systems Private Limited, 2022-VIL-31-SC-ST, has upheld levy of service tax on employee secondment arrangement between Indian and foreign entity. This ruling, being exceptional, is...
