Amendments proposed in 43rd GST Council Meeting
Recently, Government uploaded Agenda of 43rd GST Council Meeting held on May 28, 2021. Agenda contains various amendments proposed by the Council in the Central Goods and Services Tax Act, 2017 (‘CGST Act’). The changes are likely to be introduced in Budget 2022 or...
Generation of RoDTEP scrips
We have kept you updated regarding constant developments in Remission of Duties and Taxes on Exported Products (‘RoDTEP’) Scheme. In this regard, this is to update you that the Government has initiated generating scrolls on ICEGATE Portal (‘Portal’). Exporters can...
NITYA | Indirect Tax Bulletin | January 2022 | Week 2
In this Weekly Bulletin, we have captured following: Rulings Applicability of Supreme Court suo-motu Extension Order on refund applications Distribution of ITC on common services received by Head Office & facilitation service provided by Head Office to Branch...
NITYA | Indirect Tax Bulletin | January 2022 | Week 1
With the onset of new year, we are exhilarated to present our transformed Weekly Bulletin which is crisp, precise and more reader-friendly. New Weekly Bulletin will keep you abreast on all latest tax updates as you go about your Friday morning coffee!! Having said...
Silver lining for works contract service providers – ITC eligibility on office construction
Article 83: “Silver lining for works contract service providers – ITC eligibility on office construction” The widely propagated idea of seamless flow of Input Tax Credit (‘ITC’) under Goods and Service Tax (‘GST’) has been diluted with insertion of Section 17(5)(c) of...
CBIC Instruction on classification of parts & accessories of automobiles comes as relief after much debated Westinghouse judgment
We apprised you regarding rising disputes on classification of parts and accessories of automobiles in light of the Supreme Court judgment in the case of Westinghouse Saxby Farmer Limited v. CCE, 2021-VIL-33-SC-CE (‘Westinghouse’) and its incongruity with earlier...
Change in Customs Tariff w.e.f. January 1, 2022
This is to update you that Section 104(iii) of the Finance Act, 2021 which prescribed amendments in the First Schedule of the Customs Tariff Act, 1975 (‘Customs Tariff’) will become effective from January 1, 2022. This is to align the Customs Tariff with globally...
NITYA | Indirect Tax Bulletin | December 2021 | Week 4
Please click on the below link to NITYA | Indirect Tax Bulletin | December 2021 | Week 4 (Legal Precedents and Recent News) covering all recent updates. NITYA I IDT Bulletin I December I Week 4 We hope you will enjoy reading NITYA | Indirect Tax Bulletin! Please feel...
GST implications on ITC availment basis Invoices and Debit Notes not uploaded by suppliers
Section 16(2)(aa) of the Central Goods and Services Tax Act, 2017 (‘CGST Act’), inserted vide the Finance Act, 2021, has been made effective from January 1, 2022. This provision introduces a new condition for availment of Input Tax Credit (‘ITC’) namely a recipient...