Please click on the below link to NITYA | Indirect Tax Bulletin | July 2023 | Week 4 (Legal Precedents, Other Updates, Articles, Short Videos and Recent News) covering all recent updates.

NITYA l Indirect Tax Bulletin I July 2023 I Week 4

In this Weekly Bulletin, we have captured following: 

Rulings

• Time limit prescribed for availment of ITC is valid
• Registration cannot be cancelled retrospectively for period for which returns were filed
• Payment by way of book adjustment is valid mode of consideration

Other Updates

• Recommendations of the 51st GST Council Meeting
• Constitution of the GSTAT
• Other amendments of the Finance Act made effective from October 1, 2023
• Option to claim output stage refund of IGST paid
• Manual filing of appeal against orders for TRAN-1 / TRAN-2 claims
• Clarification on taxability of food and beverages in cinema halls
• Clarification on services supplied by Directors (in private / personal capacity)
• Changes relating to tobacco products and pan masala
• E-invoice exemption declaration functionality available on portal
• Changes relating to Annual Return

Articles & Short Videos

• Shareholding by Parent Company – Finally settled in GST by our Partner, Dharnendra Kumar Rana, Managing Associate Mr. Nikhil Nagpal and Senior Associate, Mr. Shivam Malhotra
• Decoding GST Input Tax Distribution: Embracing choice between ISD and Cross-charge by our Managing Partner, Puneet Bansal, Managing Associate, Ms. Lipika Rustgi, and Senior Associate, Mr. Rahul Sharma
• Place of supply of goods under GST: Has the mystery been solved? by our Partner, Dharnendra Kumar Rana, Managing Associate Ms. Neha Jain and Senior Associate, Ms. Swati Goyal. Ms. Neha Jain has also captured this issue in a short video titled Constitutional validity of time limit to avail ITC under GST
• Input Tax Credit under GST – Good things must come to an end! by our Managing Partner, Puneet Bansal, Managing Associate Ms. Neha Jain and Senior Associate, Ms. Simran Arora