Monthly Archives: July 2020

Gujarat High Court Allows Refund of “Accumulated Credit on Input Service” in case of “Inverted Duty Structure”

Posted on July 31, 2020

The Landmark judgement by Gujarat High court on July 24, 2020, has come out with relief for many industries functioning in the field of textiles, railway locomotives and parts, handlooms, solar modules, e-commerce, etc. as it was held that by … Continue reading →

Posted in GST |

Income tax (17th Amendment) Rules 2020 dated 24th July,2020.

Posted on July 29, 2020

The Income-tax (17th Amendment) Rules 2020 have brought in certain procedural amendments in the following rules: Effective from 1st October 2020 Rule 37CA (Time for TCS payment); Rule 37-I (TCS Credit); Rule 31AA (TCS Return); and Form No. 27 EQ … Continue reading →

Posted in Direct Tax |

Delhi HC Judgement-No Right to issue Belated Deficiency Memo After Termination of Statutory Limits

Posted on July 25, 2020

The Delhi High Court in its decision on 22nd July, 2020 in response to the Petition filed by “Jian International” stated that the Respondent has lost the right to raise the deficiency in the Petitioner’s Refund application at belated stage … Continue reading →

Posted in GST, GST Update |

Taxability of Hand Sanitizers Under GST

Posted on July 21, 2020

Hand Sanitizers to be classified as ‘disinfectants’ under GST and shall attract 18 percent GST. For more details, Please refer the attached document:- Taxability of Hand Sanitizers under GST Disclaimer:- This document has been prepared in summary form by Dewan P. … Continue reading →

Posted in GST |

New Functionalities like Turant Customs and Other Initiatives for Contactless Customs enabled w.e.f. July 06, 2020

Posted on July 16, 2020

In order to achieve the moto of “Ease of doing business” amidst this pandemic period of COVID-19, Government of India has introduced the facility of “Turant Customs”. Various notifications and circulars are being issued every now and then to give … Continue reading →

Posted in GST |