Matching of ITC on imported goods with GSTR-2B We wish to apprise you that department has recently started issuing notices seeking reasons for variance between ITC availed on imported goods in GSTR-3B vis-à-vis ITC reflected in GSTR-2B. NITYA Comments: At first place,...
Availment of ITC on canteen facility provided to contractual workers We intend to update you on issue of availability of ITC on canteen facility provided to contractual workers at par with employees. Section 17(5)(b) of the CGST Act allows ITC on food, beverages and...
Compliances for supplies made to Merchant Exporters at concessional GST rate We intend to apprise you of some compliances generally missed by Merchant Exporters having critical implications on supplier. Notification No. 40/2017 – Central Tax (Rate) dated October...
Eligibility of ITC on procurements from suppliers not filing their returns post January 2022 This update is in reference to eligibility of ITC post introduction of Section 16(2)(aa) of the CGST Act vide the Finance Act, 2021. As per this provision, taxpayers cannot...
Haryana Electric Vehicle Policy, 2022 Vide this outlook we intend to apprise you about the Haryana Electric Vehicle Policy, 2022 (‘Policy’) (effective July 10, 2022). The Policy has introduced significant monetary benefits to manufacturers and buyers and other...
ITC eligibility on transportation of export goods Vide this Outlook, we intend to discuss eligibility of ITC of IGST charged on overseas transportation of export goods by vessels and aircrafts from customs station of clearance in India (‘export freight’). Export...
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