Revised Procedure for IGST Refunds to Exporters
CBIC has issued Circular No. 16/2019 Customs dt. 17/06/2019 to modify the automated process for claiming IGST refunds by Exporters. Now all risky/ suspicious exporters will face a verification/ …
Tag: Clarifications
CBIC’s 41 FAQs on GST Rate structure in Real Estate Sector from 01/04/2019
CBIC has issued 41 Clarifications on FAQs/ Issues relating to new GST rate structure notified for real estate sector applicable w.e.f. 01/04/2019. CBIC’s 41 FAQs on GST Rate structure …
CBIC Clarification on Application for Revocation of Cancellation of GST Registration
CBIC clarifies issues related to filing of application for revocation of cancellation of GST registration in terms of ROD Order 5/2019 Central Tax dt. 23/04/2019, wherein persons whose registrations …
CBIC Clarification on ‘Transfer of Input Tax Credit (ITC) in the case of death of Sole Proprietor’
CBIC has issued a clarification in respect of ‘Transfer of Unutilised Input Tax Credit (ITC) in the case of death of Sole Proprietor’ to the Transferee/ Successor, along with …
ICAI Withdraws Clarification on Applicability of ‘Rotation Principles’ for a Company u/s 139 of CA 2013
ICAI has withdrawn its Clarification dt. 29 Jan. 2019 on ‘whether Rotation Principles are Applicable for a company which ceases to fall under purview of Section 139 of the …
Compendium of Clarifications on ‘Ind AS Implementation’ Issues by ITFG ICAI
The ICAI’s IND AS Transition Facilitation Group (ITFG) has published a ‘Compendium (January 2019 Edition) of 132 Clarifications issued upto 31/12/2018 (Bulletin #1 to Bulletin #17)’ regarding concerns or …
CBIC Clarification on Effective GST Rate for Construction (complex, building, flat, etc.)
CBIC has issued a Press Release to clarify certain issues relating to Applicable Output GST Rates, Input Tax Credit (ITC) and Effective Tax Rate on Construction of Property, like …
No TDS u/s 194A for Income upto 50,000 in the case of Senior Citizens: CBDT Clarification
CBDT has clarified/reiterated that no tax (TDS) is required to be ‘deducted at source’ in the case of senior citizens where the amount of such income (credited or paid) …
CBIC Clarifications on GST Registration Cancellation Procedure
Explore the recent CBIC GST Circular 69/43/2018 for clarifications on GST Registration Cancellation Procedure.
IGST refund not Allowed to Exporters after claiming benefit of higher duty drawback rate: CBIC Clarification
CBIC has clarified that where exporters have opted/ preferred to take drawback at higher rate in place of IGST refund for the period 01/07/2017 to 30/09/2017, there is no …