Tax
CBIC Clarification, Supply Of Import Of Services By Related Person Where Recipient Is Eligible To Full ITC
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on valuation of supply of import of services by a related person where recipient is eligible for full input tax credit.The Board has received the representations from trade and industry stating that demands are being raised by some of the field formations against the registered persons seeking tax on...
CBIC Clarification On Time Of Supply Of Spectrum Usage Services Under GST
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on time of supply of services of spectrum usage and other similar services under GST.The Board has received the representations from the trade and the field formations seeking clarification regarding the time of supply for payment of GST in respect of supply of spectrum allocation services in cases where...
CBIC Clarifies GST Council Recommendation On Special Procedure For Manufacturers
The Central Board of Indirect Taxes and Customs (CBIC) has issued clarification on various issues pertaining to special procedure for the manufacturers of the specified commodities as per Notification No. 04/2024 - Central Tax dated 05.01.2024.Based on the recommendation of 50th GST Council meeting, a special procedure was notified vide Notification No. 30/2023-Central Tax dated 31.07.2023 to...
Different Billing And Delivery Address By E-Commerce Portals, CBIC Clarification On Place Of Supply
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on the provisions of clause (ca) of Section 10(1) of the Integrated Goods and Service Tax Act, 2017 relating to the place of supply of goods to unregistered persons.Clause (ca) has been inserted in Section 10(1) of the Integrated Goods and Services Tax Act, 2017 with effect from 01.10.2023. The provision has...
Time Limit For RCM Supplies From Unregistered Persons For ITC To Be Calculated From Issuance Of Invoice, Clarifies CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on time limit under Section 16(4) of CGST Act, 2017 in respect of RCM supplies received from unregistered persons.The Board has received the representations from trade and industry seeking clarity on the applicability of time limit specified under section 16(4) of Central Goods & Services Tax Act, 2017 for...
Certificates By CA/CMA To Be Treated As Suitable & Admissible Evidence For Section 15(3)(B)(ii): CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has prescribed the mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the CGST Act, 2017 by the suppliers.In cases where the discounts are offered by the suppliers through tax credit notes, after the supply has been effected, the said discount is not to be included in the taxable value only if...
Notice Sent On Incorrect Email Addresses Constitutes Improper Service: Ahmedabad ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the notices were sent to an incorrect email address, which led to the non-receipt of the notices by the assessee.The bench of Suchitra Kamble (Judicial Member) and Makarand V. Mahadeokar (Accountant Member) has observed that the judicial pronouncements consistently emphasize the importance of proper service of notices as...
Reduction In Govt. Litigation: CBIC Fixes Monetary Limits For Filing Appeals/Applications Before GSTAT, High Courts And Supreme Court
The Central Board of Indirect Taxes and Customs (CBIC) with the objective of reduction in government litigation fixed the monetary limits for filing appeals or applications by the Department before the Goods and Service Tax Appellate Tribunal (GSTAT), High Courts and Supreme Court.The Board referred to the National Litigation Policy which was conceived with the aim of optimising the...
Exhibition By Gem And Jewellery Export Promotion Council, Not Trade And Commerce: Mumbai ITAT
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the exhibitions conducted by the assessee, the Gem and Jewellery Export Promotion Council, are not in the nature of trade and commerce.The bench of Anikesh Banerjee (Judicial Member) and B.R. Baskaran (Accountant Member) has observed that the assessee's transaction in the impugned assessment year exhibition in India...
CA Certificate Sufficient To Grant Special Additional Duty Refund Claim: CESTAT
The Banglore Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that once a CA certificate is produced, in the absence of any allegation of fraud or collusion, such a certificate is sufficient to grant the refund claim. The Special Additional Duty (SAD) refund should not be denied merely for technical violations.The bench of P.A. Augustian (Judicial Member)...
Coca Cola's "Minute Maid Nimbu Fresh" Is Classifiable As “Fruit Pulp Or Fruit Juice Based Drinks”: Allahabad CESTAT
The Allahabad Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the product “Minute Maid Nimbu Fresh” is classifiable under Tariff Item 2202 90 20 of the Central Excise Tariff Schedule under the category of “fruit pulp or fruit juice-based drinks.”.The bench of P. K. Choudhary (Judicial Member) and Sanjiv Srivastava (Technical Member) has observed that even...
Co. Op. Banks Are Co. Op. Societies In Banking Business; Delhi ITAT Allows Section 80P(2)(d) Deduction
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 80P(2)(d) of the Income Tax Act to the Grand Paradi Co-op Housing Society and held that cooperative banks are cooperative societies that are doing banking business.The bench of Prashant Maharishi (Accountant Member) has observed that, as per Section 2(10) of the Maharashtra Cooperative Societies...