GST
Full ITC cannot be availed when payment is netted off against receivables for the supplies made between Branch and HO
Authority for Advance Ruling (AAR Tamilnadu) pronounced in case of M/s. Sanghvi Movers Ltd. that full ITC cannot be availed by registered branch office for the services procured from HO where payments are netted off...
GST
Circular clarifying GST impact on transactions related to outsourcing of IT enabled services by overseas entities
Central Board of Indirect Tax & Customs (CBIC) issued circular no. 20/06/03/2019-GST dated 18th July, 2019 clarifying implications under GST related to Information Technology enabled services (ITes) outsourced to Indian entities by overseas companies (i.e. call centres,...
GST
GST Circular clarifying treatment of goods sent/taken out of India for exhibition or on consignment basis and procedural aspects under GST
Central Board of Indirect Tax and Customs clarified through circular No.108/27/2019-GST dated 18th July, 2019 about procedures, documentation and implications under GST on transaction with respect to goods sent/taken out of India for exhibition or on...
GST
High Court allowed set-off of credit availed on construction of an immovable property against GST payable on rent income
Safari Retreats Private Limited (“Company”) Vs Chief Commissioner of Central Goods & Service tax (Orissa High Court)
The Company is mainly carrying on business activity of constructing shopping malls for the purpose of letting out...
GST
GST update – Clarifications on treatment of various sales promotion schemes provided by CBIC through circular
CBIC has clarified various doubts as regards treatment of various sales promotional schemes under GST vide circular 92/11/2019 dated 7th March 2019 to ensure uniform implementation of the law. Summary of the said circular is as...
GST
GST Update – CBIC notifies return due dates and applicability of pronouncements made by GST council in Jan. 2019
Highlights of notifications issued by CBIC dated 7th March 2019 are as below.
Increase in turnover threshold limit for dealers under composition scheme
Threshold limit of aggregate turnover for composition scheme dealers u/s.10 of CGST Act has been...
GST
GST Update – Circulars issued by CBIC related to returns & invoices
GST Policy Wing, CBIC has issued three circulars on 18th February, 2019 as listed below in brief.
Circular No. 90/09/2019 – GST dated 18-02-19:
All registered persons making supply of goods or services or both in...
GST
Representation against contention of GST Department for interest liability u/s. 50 on ITC component
A recent “Standing Order” No.01/2019 issued by the Principal Commissioner of Central Tax, Hyderabad on 04-02-2019, instructs GST Tax Officials and field formation Officers to inquire into cases of late filing of returns, where asseseees has paid interest...
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