Key Takeaways for the CGST Act – Finance Bill, 2022
The key highlights from the Finance Bill, 2022
Key Takeaways for the CGST Act – Finance Bill, 2022
The key highlights from the Finance Bill, 2022
Refund Application in Chronological Order Violative of Tax Payer’s Right
The filing of refund application for tax periods in a chronological manner has come to be seen as a deterrent in the smooth running of businesses in addition to the fact that it bars the applicant from availing refund of unutilised ITC to which he/she is rightfully entitled to under the Law. Owing to it’s harsh implications, Uttarakhand High Court has stayed the operation of Para 8 of the Circular.
Refund Application in Chronological Order Violative of Tax Payer’s Right
The filing of refund application for tax periods in a chronological manner has come to be seen as a deterrent in the smooth running of businesses in addition to the fact that it bars the applicant from availing refund of unutilised ITC to which he/she is rightfully entitled to under the Law. Owing to it’s harsh implications, Uttarakhand High Court has stayed the operation of Para 8 of the Circular.
Bharti Airtel Case-Denial of GST Refund
The excess payment made in place of making use of the ITC was the result of the department’s fault for not having operationalized the Forms GSTR-2, GSTR-2A, and GSTR-3. Thus, the HC concluded that Bharti Airtel should not be made to suffer.
Taxability of Different Supplies Under GST – CBIC Clarifies
Clarification released regarding various taxation issues under GST.
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.
