ITC eligibility on works contract services Section 16 of the Central Goods and Services Tax Act, 2017 (‘CGST Act’) allows Input Tax Credit (‘ITC’) on all goods and services procured in course and furtherance of business. However, the legislature has barred ITC on...
Sanctity of Statutory Forms under GST – challenge before High Courts This Outlook intends to apprise you on recent judgments of various High Courts where the bone of contention is sanctity of format of statutory forms prescribed for conducting proceedings under GST...
Exchange of information between Ministry of Corporate Affairs and CBIC Recently, CBIC entered into another MOU with Ministry of Corporate Affairs (‘MCA’) for exchange of information. To ease this process, MCA will launch new version of its portal viz. MCA21 Version 3...
GST Circulars issued by State Tax authorities, not in line with Central Tax authorities Recently, the Maharashtra GST Department (‘MGSTD’) issued Trade Circular No. 1T of 2021 dated January 12, 2021 (‘Circular 2021’) withdrawing its earlier Circular 39T of 2019 dated...
Non-availability of RoDTEP benefit along with other export incentives, amenable to challenge before Constitutional Courts While Remission of Duties and Taxes on Exported Products (‘RoDTEP’) has got operational from January 2021, legal framework of the scheme is not...
Restrictions and Exceptions to Rule 86B of CGST Rules (payment of 1% GST liability through Electronic Cash Ledger) The Central Goods and Services Tax Rules, 2017 (‘CGST Rules’) underwent several changes effective from January 1, 2021. One important amendment was...
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