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,...

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...

Dept. Can't Challenge Customs Duty Demand, Below Threshold Limit Prescribed By CBIC: CESTAT

The Chandigarh bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), while dismissing the department's appeal, held that the department is precluded from challenging the commissioner's order if customs duty demand is below the threshold limit prescribed by the Central Board of Indirect Taxes and Customs (CBIC).The bench of S. S. Garg (Judicial Member) and P. Anjani Kumar (Technical Member) has observed that the amount of duty involved in the appeal is below the threshold...

Payment Of Drawback Amounts Into Exporters' Accounts Through PFMS: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) has issued the instruction in respect of disbursal of Drawback amounts into the exporters' accounts through Public Finance Management System (PFMS).Presently, Duty Drawback claims are processed through the Customs Automated System (CAS), enumerated in a scroll/Computerised Customs Drawback Advice (CCDA) and sent to the Authorised Bank branch along with supporting single cheque of consolidated amount, as per the scroll, for payment of duty...

CBIC Waives Off Interest For Late GSTR-3B Filers Due to Technical Glitches On The Portal

The Central Board of Indirect Taxes and Customs (CBIC) has waived off interest for late GSTR-3B filers due to technical glitches on the portal.The Board has notified that the rate of interest per annum to be 'Nil', for the class of registered persons who were required to furnish the return in FORM GSTR-3B, but failed to furnish the return for the June, 2018, October 2018, July 2017 and August 2017, July 2017 to February 2018 by the due date.“Registered person having the following Goods and...

GSTN Issues Advisory On Enhanced E-Invoicing Initiatives And Launches Enhanced E-Invoice Portal

The Goods and Service Tax Networks (GSTN) have issued an advisory on enhanced e-invoicing initiatives and launched an enhanced e-invoice portal.The GSTN, on occasion of one year of successful going live with the additional five new IRP portals, the e-invoice master information portal, and the e-invoice QR Code Verifier app, announced the launch of the revamped e-invoice master information portal, https://einvoice.gst.gov.in. This enhancement is part of an ongoing effort to further improve...

CBIC Imposes Additional Duty On Customs On Spent Catalyst Or Ash Containing Precious Metals, Gold Or Silver Findings And Coins Of Precious Metals

The Central Board of Indirect Taxes and Customs (CBIC) has imposed an additional duty on customs (AIDC) on spent catalysts or ash containing precious metals, gold or silver findings and coins of precious metals.The amendment imposes Additional Duty on Customs (AIDC) on items falling under tariff headings 7112, 7113, and 7118. The revised rates are set at 4.35% for spent catalyst or ash containing precious metals (7112), 5% for gold or silver findings (7113), and 5% for coins of precious metals...

CBIC Extends Exemption Deadline From Deposits For Goods U/S 51A(4) Of The Customs Act till March 01, 2024

The Central Board of Indirect Taxes and Customs (CBIC) has extended the exemption from Deposits for Specified Goods under section 51A(4) of the Customs Act till March 01, 2024.Earlier, the deadline for exemption from Deposits for Specified Goods under section 51A(4) of the Customs Act was till January 20, 2024.The extension of exemption applies to goods imported or exported in customs stations where customs automated systems are not in place; accompanied baggage; and deposits other than those...

GSTN Issues Advisory On Payment Through Credit Card/Debit Card And UPI

The Goods and Service Tax Network (GSTN) has issued an advisory on payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI).To facilitate payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI), two new facilities of payment have now been provided under e-payment in addition to net banking.Payment through CC/DC/UPI can be made through Kotak Mahindra Bank, irrespective of the CC/DC issued by any Indian bank. Other banks...