INTEREST ON DELAYED FILING OF GSTR-3B

August 27, 2020
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This note briefly sets out the impact of Notification 63/2020-Central Tax dated August 25, 2020. TEXT OF THE NOTIFICATION “G.S.R. 527(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day…

August 26, 2020
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It was announced by the Hon’ble Finance Minister during the Budget session that many of the claims of drawing the benefits of the Free Trade Arrangements are impairing the interests of the domestic manufacturers, pursuant to which it is widely expected that the Rules of Origin (R OO) are expected…

August 16, 2020
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BACKGROUND In October 2019, based on a complaint filed by the US, the World Trade Organization (WTO) panel report1 ruled that India’s export subsidy schemes flouted its guidelines as the country’s Gross National Income (GNI) had exceeded the per capita USD 1000 annual threshold above which members were banned from…

August 5, 2020
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CASE SYNOPSIS FACTS OF THE CASE Brief background VKC Footsteps India Pvt. Ltd(hereinafter ‘VKC’) is engaged in the business of manufacture and supply of footwear which attracts GST at the rate of 5%. VKC procures inputs and input services for use in the course of business and avails ITC of…

Month: August 2020

INTEREST ON DELAYED FILING OF GSTR-3B

TIGHTER ORIGIN NORMS UNDER FTA: ONUS ON IMPORTERS SEEKING PREFERENTIAL TARIFF

Remission of Duties & Taxes on Export Products (RoDTEP)

Finally input services can be availed as refund under Inverted duty structure. A snapshot of where we stand post the Hon’ble Gujarat High Court Decision

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