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Karnataka AAR: Supply of ready built body and the activity of mere mounting the body on chassis supplied by the owner amounts to ‘supply of goods’ and merits classification under HSN 8707 attracting 28% GST. Further clarifies that the activity of step by step building of the body on the chassis supplied by the owner using their own inputs and capital goods amounts to ‘supply of service’ and merits classification under SAC 9988 attracting 18% GST
Gujarat HC holds that Press Release dated 18 October 2018 clarifying the last date of availing ITC for F.Y. 2017-18 to be the due date for filing Form GSTR-3B for the month of September 2018 is in contravention to the provisions of CGST Act, 2017 and CGST Rules, 2017 and accordingly is illegal and void.
This is an interesting development as many taxpayers were unable to avail credit pertaining to FY 2017-18 till March 2019 owing to various issues. This could provide a window to the taxpayers to avail the missed credit till 31 August 2019, as the annual return is extended till such date. However, such a position is likely to be challenged by the tax authorities and the taxpayers will be required to evaluate the need for availment of such missed credit on case to case basis.
In its first budget after the landslide victory in General Elections, the NDA Government has re-iterated its emphasis on Minimum Government with Maximum Governance. In line with the same, the emphasis of the entire budget continues to remain on various initiatives to boost infrastructure and foreign investment. Further, focus has been to encourage the ‘Make in India’ concept as imports of several items have become dearer due to increase in Customs Duty. Various steps are taken to encourage affordable housing, electric vehicles and removal of angel tax for start-ups to demonstrate the optimistic and development-oriented approach of the government.
Attached herewith is a Budget booklet highlighting the key amendments proposed in Union Budget for FY 2019-20.
Maharashtra AAR holds that ITC is not available on GST paid on expenses towards promotional schemes such as give away of goods as brand reminders. Further, states that such promotional activities are covered under Section 17(5)(h) of the CGST Act, 2017 as gifts and accordingly ITC is not claimable on such transactions.
Ministry of Finance on 03rd July 2019 released a clarification in order to solve various queries raised by taxpayers for filing Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement). Some of the key observations are as follows:
CBIC issues clarifications on various issues which includes GST on additional / penal interest, determination of place of supply in certain cases, processing of refund applications in FORM GST RFD-01A submitted by taxpayers and forwarded to authority wrongly mapped on the common portal and treatment of secondary or post-sales discounts under GST.
CBIC issues the following notifications to extend and notify the due dates of various forms and provides clarification with respect applicability of filing of annual return for supplies related to Online Information Database Access and Retrieval Services (‘OIDAR Services’) as follows:
In line with the decision taken by the GST Council during its 35th Meeting,
The Directorate General (‘DG’) of Audit, Indirect Taxes, releases the Audit Plan for the F.Y. 2019-20. Provides that the procedure is similar to that of the erstwhile Central Excise and Service Tax Audit manuals. This audit will be conducted on the basis of a Risk Assessment Programme developed in association with Directorate General of Analytics and Risk Management (‘DGRAM’)
CBIC vide Notification No. 25/2019 - Central Tax dated 21 June 2019 amends Notification No. 22/2019 - Central Tax dated 23 April 2019 to extend the facilitation date of blocking / un-blocking of E-Way bill as per the provisions of Rule 138E of CGST Rules, 2017
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