- E-Sealing for full container load stuffed at approved premises, would be mandatory w.e.f. 1st January, 2018 for all ports/ICDs
- E-seal would become mandatory w.e.f. 15.12.2017 for exporters, who had been permitted self sealing facilities under the previous excise procedure/ GST
- Late fees for GSTR-3B reduced to Rs. 10 per day for NIL return and Rs. 25 per day for others.
- No GST payment on advance received for outward supply of goods
- Manual filing of Advance Ruling is to be introduced
- ITC benefits extended to export of goods to Nepal and Bhutan
- GSTR-3B to be filed till March 31, 2018
- 178 items moved from 28% to 18% tax rate w.e.f. November 15, 2017
- Due dates for GSTR-4, GSTR-5, GSTR-6, TRANS-01 and ITC-04 extended till December end, 2017
GST Alert
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Retrospective Amendment Impacting Advance Authorisation, EPCG License Holders & EOU/STP/EHTP for Refund of IGST- Now Corrected and Settled
Refund of integrated tax paid on exports was restricted by a retrospective amendment effecting Advance license or ECPCG license holders or EOU/STP/EHTP who enjoyed the benefit of IGST exemption on imports more
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GST on Royalty paid to the State Government for availing mining rights
State Government grants mining rights for extraction of various minerals to business entities. Business entities are required to discharge GST on a reverse charge basis for the mining rights granted by the Government.more
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Retrospective Amendment for IGST Refund
Recently, the Ministry of Finance have come out with a notification which will impact the industry as a whole in the process of obtaining their IGST Refunds. Though, the Ministry have always taken a more
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TDS Provisions under GST law
The provisions related to tax deduction at source is contained in Section 51 of the CGST Act, which were not made effective till date from the inception i.e. 1st July, 2017. more
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Applicability of GST on Liquidated Damages/Recovery/Penalty retained by the Clients for non fulfilment of contractual obligation
Parties entering into contractual agreements usually insist on including a clause for liquidated damages to pre-emptively agree upon the amount of reparation that would be payable by either Party on failure to meet its commitment.more
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Implementation of Key Amendments Proposed in 28th GST Council Meeting
The 28th GST Council meeting witnessed a slew of rate changes that are further implemented via notifications. The Council meeting has attempted to cut down the rates of several essentials as well... more
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Taxability of Construction Service under GST on Composite Supply of Land and Building
In a bid to avoid disputes with the revenue department, the provision of advance rulings was introduced under the Goods and Services Tax (GST) law. It seeks to clarify the provisions of the GST law to cater to the problems of the businesses.more
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Recommendations in 28th GST Council Meeting held on 21-07-2018
GST Council in its 28th meeting held on 21st July, 2018, came out with several important decisions relating to rate cut in various goods, simplified Return process and change in provisions of GST Act. This article deals with comprehensive analysis of the recommendations provided at the meeting.more
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E-Way Bill Exempt in West Bengal in case of Movement of Goods for Job Work 1
E-way bill is implemented in a phased manner in the country for inter- state and intra-state movement of goods.more
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Synopsis of Inspection and Detention Procedure During Movement of Goods under GST
E-way bill, an electronic documentation detailing the movement of goods is a key anti-tax evasion measure in GST anatomy. more
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Synopsis of Inspection and Detention Procedure During Movement of Goods under GST
E-way bill, an electronic documentation detailing the movement of goods is a key anti-tax evasion measure in GST anatomy.more
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Summary of Clarifications issued by Government of India1
Government has come up with various clarifications to address the issues and confusions being faced by the industry at large. This article deals with clarifications issued in relation to various matters.more
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Introduction of RFID seals for cargo to be deposited in warehouse
The RFID self sealing for export of containerized cargo has now been extended to goods which is to be deposited in a warehouse as well as its removal there from with effect from 1st August, 2018.more
