CBIC issues procedure for processing IGST Refund Paid on Exports of Goods done from Non-EDI Ports

The Central Board of Excise and Customs (CBIC) has issued the procedure for processing IGST refund claims for exports made from Non-EDI ports. The procedure for refund of IGST paid on export of goods under Rule 96 of CGST Rules 2017 was provided vide instruction 15/2017-Customs dated 09.10.2018 for all EDI locations. The facility to […]

Read More »

Registration is not mandatory if annual business turnover is less than Rs.20 lakhs :AAR

Fact: M/s J Abdul Rawoof Khan & Brothers, (“the applicant”), are engaged in manufacturing of Biris, for that the necessary raw material i.e. Biri leaves and Tobacco powder mostly purchases from both the registered and unregistered dealers within and outside the State of Andhra Pradesh and manufacturing the same into Biris. The resultant Biris are sold in within […]

Read More »

Eway Bill New System w.e.f. 16.11.2018

The National Informatics Centre (“NIC”) has proposed an enhancement in E-Way Bill system for the ease of generation of E way bill for the taxpayer, which are to be released on November 16, 2018. The following are the proposed enhancements explained below: Checking of duplicate generation of e-way bills based on same invoice number: The e-way […]

Read More »

Recommendations made during the 28th meeting of the GST Council

The all-powerful GST Council meeting headed by the Hon’ble Finance Minister, Mr. Piyush Goyal held for the 28th time with an agenda inter-alia to review the rates on basis of representation made by the Trade & Industries, take up issues pertaining to simplification of returns filing under GST & discussion on bringing-in Aviation Turbine Fuel and […]

Read More »

Extension of Special Refund Fortnight till 16.6.2018

Government has launched the second “Special Drive Refund Fortnight ”from 31.5.2018 to 14.6.2018. During the first Refund Fortnight from 15th to 29th March an amount of Rs.5350 crore was sanctioned and during this fortnight over Rs 7500 crore has been sanctioned. In view of overwhelming response from exporters and pending claims, the period of Refund fortnight is being extended […]

Read More »

Synopsis of GST Council 27th Meeting

    One monthly Return: All taxpayers excluding a few exceptions like composition dealer shall file one monthly return. Return filing dates shall be staggered based on the turnover of the registered person to manage load on the IT system. Composition dealers and dealers having nil transaction shall have facility to file quarterly return.   […]

Read More »

Recommendations made during the 26th meeting of the GST Council

Recommendations made during the 26th meeting of the GST Council     Return filing System: The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group of Ministers on […]

Read More »

Changes recommended by the 25th GST Council Meeting

The following Policy Changes have been recommended: The late fee payable by any registered person for failure to furnish FORM GSTR-1, FORM GSTR-5 (Non-resident taxable person) or FORM GSTR-5A (OIDAR) is being reduced to Rs. 50/- per day and shall be Rs. 20/- per day for NIL filers. The late fee payable for failure to […]

Read More »