Indirect tax experts are awaiting clarity on the levy of goods and services tax (GST) on corporate guarantees given by Indian companies on behalf of their subsidiaries following a notification issued by the finance ministry in October. The 26 October notification had clarified how much value to be ascribed to a transaction that provides corporate […]
GST Circular on Filing of manual Appeal
F. 17/134-Pt.(III)ACCT/GST/2017-8787 dated 01.11.2023 GST Circular R-1/2023 All Appellate Authorities, State Tax Rajasthan, Jaipur. Subject: Filing of manual appeal applications before Appellate Authority under Rajasthan Goods and Services Tax Rules, 2017. It has been brought into my notice that taxpayers are facing problem in filing appeal where orders are passed manually. In this reference, it […]
Circular no. 206/18/2023-GST dated 31.10.2023
CBIC issued circular no. 206 dated 31.10.2023 to clarify applicability of GST on certain services. This is based on the GST Council’s 52nd meeting held on 07.10.2023 with reference to GST levy. Circular No. 206/18/2023-GST F. No. CBIC-190354/195/2023-TO (TRU-II)-CBECGovernment of IndiaMinistry of FinanceDepartment of Revenue(Tax Research Unit) North Block, New DelhiDated the 31st October, 2023 […]
Circular issued on 27.10.2023
CBIC issued following circulars on 27.10.2023. Clarification relating to export of services – sub-clause (iv) of the Section 2 (6) of the IGST Act 2017 – Click here Clarification regarding determination of place of supply in various cases – Click here Clarification on issues pertaining to taxability of personal guarantee and corporate guarantee in GST […]
Circular no. 201/13/2023-GST dated 01.08.2023
Clarifications regarding applicability of GST on certain services –reg. F. No. 190354/133/2023-TRU dated 01.08.2023 Government of India Ministry of Finance Department of Revenue ***** To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioner of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Representations have been received seeking clarifications on the […]
Circular No. 200/12/2023-GST dated 01.08.2023
Clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on 11th July, 2023–reg. F. No. 190354/140/2023-TRU dated 01.08.2023 Government of India Ministry of Finance Department of Revenue (Tax Research Unit) ***** To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of […]
Policy Circular No. 02/2023-24 dated 23.06.2023
Procedure for applying for Amnesty scheme for one-time settlement of default in export obligation by Advance and EPCG authorization holders in manual mode – reg. Government of India Ministry of Commerce and Industry Department of Commerce (Directorate of General of Foreign Trade) Dated 23.06.2023 Policy Circular No. 02/2023-24 To, All Regional Authorities of DGFT FIECO/ […]
Implementation of Hon’ble Supreme Court direction relating to pre-import condition
Circular no. 16/2023-Customs F.No.605/11/2023-DBK/569 dated 07.06.2023 published by Central Board of Indirect Taxes and Customs. Vide this circular the Hon’ble Supreme Court direction in judgment dated 28.04.2023 in matter of Civil Appeal No. 290 of 2023 relating to ‘pre-import condition’ is being implemented. Attention is invited to Hon’ble Supreme Court judgment dated 28.04.2023 in matter […]
Extension of time limit for claiming any exemption under Sec.54 to 54GB of the Income Tax Act, 1961
The Central Board of Direct Taxes (hereinafter referred to as “the CBDT”) had vide Circular No. 12 of 2021 dated 25.06.2021 provided relaxation in respect of certain compliances to be made by taxpayers including inter alia investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for the purpose of claiming […]
Is GST a complete law now?
As on 7th November, 2022 the total count of notifications, circular, order etc. issued by CBIC in their website was 1144. But, when I visited CBIC website today on 3rd January, 2023, I found the count has been increased by 28 ( 19 + 8 + 1). That is, 19 Notifications, 8 circulars and 1 […]