CBIC Clarification On Refund of Tax Paid Under Wrong Head
The clarifications given by CBIC address the issues pertaining to refund of tax paid under wrong head as mentioned u/s 77 of CGST Act, 2017.
CBIC Clarification Regarding Export of Service
With the intent to make the GST provisions more effective such that they leave no scope for ambiguity, CBIC has issued clarification vide. Circular No. 161/17/2021-GST dated 20.09.2021. The issue addressed through such circular is whether the supply of service by a subsidiary of a foreign company in India to such foreign company will be barred from being considered as “Export of Service”.
Recent Clarifications on GST Issues
CBIC has issued clarifications in respect of certain GST issues which were earlier subject to contradictory views.
Regularisation of Income Tax Returns filed using EVC
CBDT has issued an order u/s 119(2)(a) dated 24.09.2021 for regularising the income tax returns.
Regularisation of Income Tax Returns filed using EVC
CBDT has issued an order u/s 119(2)(a) dated 24.09.2021 for regularising the income tax returns.
TDS deductible but not deducted is to be reduced to arrive at Advance Tax?
A proviso to Section 209(1)(d) was inserted by the Finance Act, 2012, thereby explicitly providing for non reduction of TDS deductible but not deducted for the purpose of computing Advance Tax.
Whether payment of Sales Tax by adjustment is a deemed payment for Section 43B?
The adjustment made for meeting the sales tax liability on sales is a deemed payment by legal fiction.
Fetching of BE details from ICEGATE Portal
GSTN advisory on the functionality has been released on 17.09.2021 so as to provide relief to importer of goods.
Insertion of Rule 12F in the Income Tax Rules 1962
The prescribed income tax authority in accordance with the Rule should not be below the rank of Income tax officer (ITO). Also, the aforementioned authority should be so authorized by the CBDT.
Fiction Created By One Provision Cannot Be Super-Imposed On Another Provision
No deduction under section 54F can be denied in pursuance of fiction that has been established under section 27
