Tax
CBIC Clarification On GST Liability & ITC Availability On Warranty/Extended Warranty
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification in respect of GST liability and input tax credit (ITC) availability in cases involving Warranty/ Extended Warranty, in furtherance to Circular No. 195/07/2023-GST dated 17.07.2023.Circular No. 195/07/2023-GST dated 17.07.2023 clarified certain issues regarding GST liability and availability of input tax credit (ITC) in respect of warranty replacement of parts and repair services during warranty period. The Board...
Road Construction & Maintenance Service By NHAI; CBIC Clarification On Time Of Supply
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on time of supply in respect of supply of services of construction of road and maintenance thereof of National Highway Projects of National Highways Authority of India (NHAI) in Hybrid Annuity Mode (HAM) model.The Board has received the representations from the trade and the field formations seeking clarification regarding the time of supply in respect of supply of services of construction of road and maintenance...
CBIC Clarifies Taxability Of ESOP/ESPP/RSU By Company To Employees Through Its Overseas Holding Company
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on the taxability of Employee Stock Ownership Plan (ESOP)/ESPP/RSU provided by a company to its employees through its overseas holding company.The Board has received the representations from the trade and field formations seeking clarification regarding the taxability of Employee Stock Option (ESOP)/Employee Stock Purchase Plan (ESPP)/ Restricted Stock Unit (RSU) provided by a company to its employees.It has been...
Certificates By CA/CMA To Be Treated As Suitable & Admissible Evidence For Section 15(3)(B)(ii): CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has prescribed the mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the CGST Act, 2017 by the suppliers.In cases where the discounts are offered by the suppliers through tax credit notes, after the supply has been effected, the said discount is not to be included in the taxable value only if the condition of clause (b)(ii) of sub-section (3) of section 15 of the Central Goods and Services Tax Act, 2017,...
CBIC Clarification, Supply Of Import Of Services By Related Person Where Recipient Is Eligible To Full ITC
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on valuation of supply of import of services by a related person where recipient is eligible for full input tax credit.The Board has received the representations from trade and industry stating that demands are being raised by some of the field formations against the registered persons seeking tax on reverse charge basis in respect of certain activities undertaken by their related persons based outside India. By...
CBIC Clarification On Time Of Supply Of Spectrum Usage Services Under GST
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on time of supply of services of spectrum usage and other similar services under GST.The Board has received the representations from the trade and the field formations seeking clarification regarding the time of supply for payment of GST in respect of supply of spectrum allocation services in cases where the successful bidder for spectrum allocation (i.e. the telecom operator) opts for making payments in...
CBIC Clarifies GST Council Recommendation On Special Procedure For Manufacturers
The Central Board of Indirect Taxes and Customs (CBIC) has issued clarification on various issues pertaining to special procedure for the manufacturers of the specified commodities as per Notification No. 04/2024 - Central Tax dated 05.01.2024.Based on the recommendation of 50th GST Council meeting, a special procedure was notified vide Notification No. 30/2023-Central Tax dated 31.07.2023 to be followed by the registered persons engaged in manufacturing of goods mentioned in the schedule to the...
Different Billing And Delivery Address By E-Commerce Portals, CBIC Clarification On Place Of Supply
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on the provisions of clause (ca) of Section 10(1) of the Integrated Goods and Service Tax Act, 2017 relating to the place of supply of goods to unregistered persons.Clause (ca) has been inserted in Section 10(1) of the Integrated Goods and Services Tax Act, 2017 with effect from 01.10.2023. The provision has been inserted as a non-obstante provision overriding the provisions under Section 10(1)(a) or 10(1)(c) of...
Time Limit For RCM Supplies From Unregistered Persons For ITC To Be Calculated From Issuance Of Invoice, Clarifies CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification on time limit under Section 16(4) of CGST Act, 2017 in respect of RCM supplies received from unregistered persons.The Board has received the representations from trade and industry seeking clarity on the applicability of time limit specified under section 16(4) of Central Goods & Services Tax Act, 2017 for the purpose of availment of input tax credit (ITC) by the recipient on the tax paid by him under reverse...
Certificates By CA/CMA To Be Treated As Suitable & Admissible Evidence For Section 15(3)(B)(ii): CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has prescribed the mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the CGST Act, 2017 by the suppliers.In cases where the discounts are offered by the suppliers through tax credit notes, after the supply has been effected, the said discount is not to be included in the taxable value only if the condition of clause (b)(ii) of sub-section (3) of section 15 of the Central Goods and Services Tax Act, 2017,...
Notice Sent On Incorrect Email Addresses Constitutes Improper Service: Ahmedabad ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the notices were sent to an incorrect email address, which led to the non-receipt of the notices by the assessee.The bench of Suchitra Kamble (Judicial Member) and Makarand V. Mahadeokar (Accountant Member) has observed that the judicial pronouncements consistently emphasize the importance of proper service of notices as a fundamental requirement for the validity of proceedings under the Income Tax Act, 1961. Extrapolating...
Reduction In Govt. Litigation: CBIC Fixes Monetary Limits For Filing Appeals/Applications Before GSTAT, High Courts And Supreme Court
The Central Board of Indirect Taxes and Customs (CBIC) with the objective of reduction in government litigation fixed the monetary limits for filing appeals or applications by the Department before the Goods and Service Tax Appellate Tribunal (GSTAT), High Courts and Supreme Court.The Board referred to the National Litigation Policy which was conceived with the aim of optimising the utilisation of judicial resources and expediting the resolution of pending cases. It underscores the importance...