With a slew of critical Notifications and Circulars issued in the month of July 2022, the CBIC has indeed regularized and clarified many burning issues in GST. Further, with the judgement of the Apex Court, directing the Revenue to reopen the GSTN portal for availing transitional credit, the spirits are high among the taxpayers. Add to this, the JNCH has also issued a Standing Order, allowing re-assessment of Bills of Entry without an appealable order. These moves by the Board, Courts and Departments, will collectively go a long way in easing the tax compliances and procedures. Apart from this, following are the key developments covered in this Newsletter:
Compiling all such developments, we are glad to bring to you the 23rd Edition of our ‘Vision 360’ Newsletter in association with TIOL. We have covered the key judicial and legislative developments in Direct, Indirect Tax other regulatory areas in the month of June 2022. We hope that reading of the newsletter would bring an enriching experience to you! Your valuable feedback is always welcome at consult@gstlegal.co.in or updates@gstlegal.co.in
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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