Stay updated
Section 34 of CGST Act, 2017 requires the recipient to reverse the Input tax credit already taken basis the credit note issued by the supplier so that the supplier can reduce his output tax liability. CBIC has issued Circular no. 212/06/2024 dated 26.06.2024 providing mechanism for evidencing the compliance of condition of section 15(3)(b)(ii) of CGST Act, 2017.
CBIC issued Notification no. 19/2025 – Central Tax dated 31.12.2025 which Seeks to notify supplies under section 15(5) of CGST Act for valuation based on Retail sale price (RSP)
The Andhra Pradesh AAR in the matter of Sri Lakshmi Ganesh Cement and Iron General Stores held that for supply of cement and iron to unrelated persons, the transaction value as per Section 15(1) of the CGST Act, 2017 applies; for supplies to related persons eligible for full input tax credit, the invoice value is deemed value of supply under Rule 28 of the CGST Rules, 2017; further, the registered person providing transportation services to unregistered persons is not liable to pay GST on the transportation charges, as such services are exempt under Serial No. 21A of Notification No. 12/2017-CT (Rate), as amended.
THE AUTHORITY FOR ADVANCE RULING UNDER RAJASTHAN GST, In the case of Pink City Steel Rolling Mills Pvt. Ltd.,decided on 1-9-2023