NITYA’s Insight | Issue 24 | Recent Notifications and Circulars issued under GST A. Clarification regarding order of utilisation of ITC of IGST to set-off output tax liabilityRule 88A of the Central Goods and Services Tax Rules, 2017 (‘CGST Rules’) was inserted...
Recent Notifications and Circulars issued under GST The Government has issued several Notifications and Circulars on April 23, 2019. The key changes and clarifications vis-à-vis utilisation of input tax credit (‘ITC’) of IGST and generation of e-way bill are discussed...
Demurrage charges not includible in customs valuation This is to apprise you regarding controversy on inclusion of demurrage charges in the assessable value of imported goods under the Customs Act, 1962 (‘Customs Act’). An importer of goods pays demurrage charges on...
AAR Update | Allocation of expenses by Head Office as supply This is to apprise you regarding the recent Maharashtra Advance Ruling in the case of Cummins India Limited, 2019-VIL-62-AAR. In this case, the Authority for Advance Ruling (‘AAR’) inter-alia held that the...
Recent Changes in Real Estate Sector under GST The Government vide various Notifications dated March 29, 2019, has implemented lower GST rates in the real estate sector for ongoing and new projects. These were decided in 33rd and 34th GST Council Meetings.To Read...
Exemptions under Advance Authorisation, EOU and EPCG extended upto March 31, 2020 – Customs Notifications issued In reference to our trailing update on the referred issue, we wish to update you that the Government has issued Notification No. 08/2019-Customs...
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