Facts of the case: The Assessee has filed the refund application under the category of Supply made to SEZ unit/Developer with payment of tax and subsequently, the Assistant Commissioner sanctioned refund vide order dated 14.12.2020. Thereafter, competent authority...
Introduction Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It is a comprehensive tax system that replaces multiple indirect taxes such as Value Added Tax (VAT), Central Excise Duty, and Service Tax. GST is...
The government has given a big relief to unregistered Real Estate buyers who have to cancel the agreement with a builder for supply of construction service for a flat/ building due to non-completion or delay in construction activity in time or any other reasons, by...
The CBIC clarifies the procedure for processing GST refunds to “Risky Exporters.” CBIC has issued a clarification on manner of processing and sanctioning of GST refunds which are or will be withheld due to the tag of “Risky Exporters” given by Directorate...
What is Inverted Duty Structure? Inverted Duty Structure is a scenario where the tax rate on inputs used is higher than the tax rate on outward supplies. In simple terms, GST paid on inputs purchased is more than GST payable on outward sales. This results in the...
