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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...

Non acceptance of MEIS claims by ICEGATE portal

We apprised you that the Delhi High Court has also accepted challenge to capping benefits under Merchandise Exports from India Scheme (‘MEIS’). To add to exporters' woes and much to everyone's surprise, ICEGATE portal has stopped accepting MEIS claims even before last...

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Service Tax on secondment of employees: Unsettling the settled!

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 likely to put multinational companies...

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NITYA | Indirect Tax Bulletin | May 2022 | Week 2

NITYA | Indirect Tax Bulletin | May 2022 | Week 2

In this Weekly Bulletin, we have captured following: Rulings Claim of GST paid by ITC utilisation under reimbursement policy of Western Railways Levy of GST on electricity charges recovered by lessor Refund of Education Cess and Secondary and Higher Education Cess...

NITYA | Indirect Tax Bulletin | May 2022 | Week 1

NITYA | Indirect Tax Bulletin | May 2022 | Week 1

In this Weekly Bulletin, we have captured following: Rulings Incorrect vehicle type mentioned in E-way Bill Deeming fiction to determine value of land for construction services Taxability of marketing services as Intermediary Refund of Service Tax where GST also...

Inverted duty structure – A turmoil for Traders

Inverted duty structure – A turmoil for Traders

GST law was introduced with the objective of eliminating cascading effects and having seamless flow of credit throughout supply chain. On the contrary, inverted duty structure divulges a situation when tax on inputs is higher than that on output leading to...

Nature of GST payable on Intermediary service

Nature of GST payable on Intermediary service

This update intends to discuss vexed issue of nature of GST on Intermediary services viz. IGST or CGST and SGST for services provided to overseas clients. Under the Integrated Goods and Services Tax Act, 2017 (‘IGST Act’), Intermediary is a person who arranges or...

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