Clarification on ITC availability on Goods delivered under Ex-Works Contract GST Clarification has been issued on Clarification on ITC availability on Goods delivered under Ex-Works Contract.In the GST Council it has been proposed that to clarify the buyer is eligible to claim the Input Tax Credit on goods under Ex-Works Contract, provided all the condition … Read more
Clarification on ITC availed by E-commerce Operator for services u/s 9(5). GST Circular has been issued on ITC availed by E-commerce Operator for services u/s 9(5). This point has been proposed in 55th GST Council Meeting held on 21-12-2024. Proposed Clarification in GST Council Meeting: The GST Council has proposed clarification stating that E-commerce Operator … Read more
Clarification on Adjudication of Show Cause Notice issued by DGGI GST Circular has been issued for Clarification on Adjudication of Show Cause Notice issued by DGGI. Lets Understand this in simple way. How the Changes take Place? In 2017- Notification No 02/2017-CT dated 19-06-2017 specifies that which tax officers had jurisdiction for various GST Related … Read more
Summary of Clarification on Section 128A of CGST Act,2017 GST Circular has been issued for Clarification on Section 128A of CGST Act,2017. Section 128A allows the taxpayer to get waiver of Interest, penalty or both for certain tax demands related to section 73. This waiver applies to FY 2017-18, 2018-19 and 2019-20 only if certain … Read more
Summary of Implementation of Provision of section 16(5) and 16(6) of CGST Act through Circular No 237/31/2024 Government has provide clarification on Implementation of Provision of section 16(5) and 16(6) of CGST Act through Circular No 237/31/2024. Key Points of the Circular No 237/31/2024 1. Section 16(4) of CGST Act is reproduced in this circular. … Read more
Circular No 235/29/2024- Clarification on GST Rate and classification of goods Circular No 235/29/2024 provides Clarification on the GST Rate and classification of goods which is recommended in the 54th GST Council meeting. Key Points of Circular No 235/29/2024 Clarification regarding GST rate on Extruded/Expanded Savoury food products Clarification regarding GST rate on Roof Mounted … Read more
Summary of the Circular No 234/28/2024 GST Clarification has been issued for the applicability of GST on certain services. Key Points of Circular No 234/28/2024: 1. Applicability of GST on the service of affiliation provided by universities to colleges 2. Applicability of GST on the service of affiliation provided by Central and State educational boards … Read more
Summary of the GST Liability on Salvage or wreckage in Motor Vehicle Insurance Claims The Circular No 215/9/2024 provides clarification regarding GST Liability on Salvage or wreckage in Motor Vehicle Insurance Claims. The Insurance companies provides general insurance for motor vehicles covers the cost of repairs or damages. These damages are generally of two categories. … Read more
Summary of the Circular No 233/27/2024 for IGST Refunds for Exporters The Clarification has been issued by Circular No 233/27/2024 for IGST Refunds for Exporters. This clarification states that even if business initially imported goods without paying IGST and compensation cess using the exemptions under Notification No 78/2017-Customs dated 13-10-2017 or Notification No 79/2017- Customs … Read more
Summary of Clarification on Place of supply for Data Hosting Services Trade and industry groups have asked for Clarification on Place of supply for Data Hosting Services. Specifically, when service provider is located in india and provide service to cloud computing companies located outside india.Therefore, government has issued Circular No 232/26/2024 regarding Place of supply … Read more