GST Refund Allowed
In any type of businesses, an accountant is needed. You have to consider that accounting is basically the language in business and having enough knowledge about accountancy is essential for businessmen and women to know how their business is doing. This is why accounting professionals are very much in demand today. And, a lot of […]
Finance Minister Nirmala Sitharaman chaired the 49th GST Council meeting today in Delhi with Minister of State for Finance Pankaj Chaudhary, her state counterparts and other senior officers. In the meeting Government of India has decided to clear the entire pending balance GST compensation of Rs. 16,982 crore for June’ 2022 A Gist of the […]
DGFT on January 20, 2023 issued a public notice no. 53/2015-20 to provide the big relief to EPCG authorisation holders in terms of Export Obligation Period as well as Average Annual Export Obligation required to be maintained by the EPCG Authorisation holder. A new sub – para 5.13(d) is added after para 5.13(c) of the […]
Director General of Foreign Trade (DGFT), on December 07, 2022 issued notification no. 47/2015-20 to amend the RODTEP Policy. Notification notified the a revised Appendix 4R under para 4.59 of Foreign Trade Policy, 2015-20 for export made from 15.12.2022 The revised Appendix 4R will be applicable for export made from 15.12.2022 to 30.09.2023. As an […]
Recently in case of Genpact India Pvt. Ltd. Vs Union of India and others [CWP-6048-2021 (O&M) Date of Pronouncement:11.11.2022], it was held by the hon’ble Punjab and Haryana High Court held that BPO services provided to Overseas client would not fall under “intermediary” services. In the aforesaid judgment, court has found that: The petitioner provides […]
Recently, Telangana State Appellate Authority for Advance Ruling in Order-in-Appeal No. AAAR/10/2022 dated 19.10.2022 has held that liquidated damages recoverable by the applicant from Bi-electric India on account of delay in commissioning, does not qualify as a ‘supply’, thereby GST shall not be payable. In this case, Telangana Appellate Authority of Advance Ruling (AAAR) has […]
CBIC on Thursday, November 10, 2022 issued circular no. 181/13/2022-GST for clarification on refund related issues in GST. Officials of CBIC Said that, “Representation have been received from the trade and field formation seeking clarification on various issues pertaining to the implementation of the notification no. 14/2022-Central Tax dated 05.07.2022, issued to amend the formula […]
After the guidelines issued by RBI on 11th July 2022 in relation to settlement of international trade in Indian Rupees, Industry was expecting the relief from central government in the norms of export promotion schemes. Now Central Government comes with amendments in foreign trade policy 2015-20 to allow the rupees settlement of international trade for […]