CBIC Issues Instructions Regarding Manner of processing and sanction of IGST refunds
2 years, 1 month ago

CBIC Issues Instructions Regarding Manner of processing and sanction of IGST refunds

Live Law  

The Central Board of Indirect Taxes and Customs has issued instructions regarding the manner of processing and sanctioning IGST refunds withheld in terms of Rule 96, which were transmitted to the jurisdictional GST authorities under Rule 96 of the CGST Rules.The SOPs for verification of risky exporters and their suppliers, dated January 23, 2020, were issued to CGST and. The Central Board of Indirect Taxes and Customs has issued instructions regarding the manner of processing and sanctioning IGST refunds withheld in terms of Rule 96, which were transmitted to the jurisdictional GST authorities under Rule 96 of the CGST Rules. The SOPs for verification of risky exporters and their suppliers, dated January 23, 2020, were issued to CGST and Customs formations, as well as the Directorate General of Analytics and Risk Management, and an SOP dated May 20, 2020, was issued to CGST formations and DGARM. DG Systems has also issued instructions to Customs field formations regarding the procedure to be followed in respect of IGST refunds withheld due to DGARM alerts on risky exporters.

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CBIC Issues Guideline To Address Recovery Of Outstanding Dues Till GSTAT Becomes Functional
6 months ago

CBIC Issues Guideline To Address Recovery Of Outstanding Dues Till GSTAT Becomes Functional

Live Law  

The Central Board of Indirect Taxes and Customs has issued the guidelines for recovery of outstanding dues, in cases in which first appeal has been disposed of, till the Goods and Service Tax Appellate Tribunal comes into operation.The Board has received doubts from the trade and the field formations in respect of recovery of outstanding dues, in cases where the …

IGST Refund On Exported Goods Being Zero Rated Supplies Admissible As Excess Drawback Repaid: Gujarat High Court
1 year, 1 month ago

IGST Refund On Exported Goods Being Zero Rated Supplies Admissible As Excess Drawback Repaid: Gujarat High Court

Live Law  

The Gujarat High Court has ruled that the surplus drawback resulting from the utilization of the Cenvat Credit facility was repaid along with interest, and thus, the refund of Integrated Goods and Services Tax paid on goods and services for exported goods, classified as zero-rated supplies, is deemed eligible. The petitioner, ADF Foods Ltd., challenged the inaction on the part …

CBIC Issues Clarification On Refund Related Issues
2 years, 2 months ago

CBIC Issues Clarification On Refund Related Issues

Live Law  

The Central Board of Indirect Taxes and Customs has issued a clarification on GST refund-related issues.The CBIC has received various representations from the trade and field formations seeking clarification on various issues pertaining to the implementation of the formula prescribed under Rule 89 of the CGST Rules, 2017 and the restriction on refund of unutilised ITC on account. The CBIC …

Customs Broker Is Responsible For Acts Of The Employees: CESTAT
2 years, 3 months ago

Customs Broker Is Responsible For Acts Of The Employees: CESTAT

Live Law  

The Mumbai Bench of the Customs, Excise and Service Tax Appellate Tribunal has held that for the act of an employee, direct responsibility is fixed on the customs broker.The bench of Dr. Suvendu Kumar Pati has confirmed the penalty and relied on para 13 of the CHA Licencing Regulation, 2004 which says, "the customs broker shall exercise such supervision as …

Gujarat High Court Directs CBIC To Refund IGST On Ocean Freight
2 years, 5 months ago

Gujarat High Court Directs CBIC To Refund IGST On Ocean Freight

Live Law  

The Gujarat High Court has directed the Central Board of Indirect Taxes and Customs to refund the Integrated Goods and Service Tax on ocean freight within six weeks along with the statutory rate of interest. The Gujarat High Court, in response to a writ case filed by Mohit Minerals Private Limited, ruled that the announcements placing the tax under the …

CBIC Notifies Procedure For Filing Refund Of Unutilized ITC On Account Of Export Of Electricity
2 years, 6 months ago

CBIC Notifies Procedure For Filing Refund Of Unutilized ITC On Account Of Export Of Electricity

Live Law  

The Central Board of Indirect Taxes and Customs has notified the manner of filing refunds of unutilized ITC on account of the export of electricity. At the time necessary changes are carried out on the portal, the applicant would be required to file the application for refund under the "Any Other" category electronically on FORM GST RFD-01. The applicant would …

Gujarat High Court Directs Dept. To Refund IGST On Ocean Freight Along With The Interest
2 years, 6 months ago

Gujarat High Court Directs Dept. To Refund IGST On Ocean Freight Along With The Interest

Live Law  

The Gujarat High Court bench of Justice A.J. The applicants/petitioners have sought the direction to the respondents/department to grant a refund of the amount of IGST already paid by the applicants pursuant to Entry No.10 of Notification No.10/2017-IGST dated 28.6.2017 with appropriate interest on the refund. The applicant has challenged the vires of Entry No.10 of Notification No.10/2017-IGST dated 28.6.2017 …

CBIC asks DGFT to tighten accreditation process of star exporters for curbing tax fraud
5 years ago

CBIC asks DGFT to tighten accreditation process of star exporters for curbing tax fraud

Firstpost  

The Central Board of Indirect Taxes and Customs has asked the Directorate General of Foreign Trade to make the accreditation system for star exporters more robust to curb tax fraud New Delhi: The Central Board of Indirect Taxes and Customs has asked the Directorate General of Foreign Trade to make the accreditation system for star exporters more robust to curb …

Bogus IGST refund claims: Govt to verify exporters' claims before sanctioning; standard operating method to be devised
5 years, 6 months ago

Bogus IGST refund claims: Govt to verify exporters' claims before sanctioning; standard operating method to be devised

Firstpost  

The CBIC said it has observed instances of availment of IGST refund using fraudulent input tax credit claims by some exporters. New Delhi: With the government detecting fraudulent refund claims by exporters, the CBIC has asked customs and GST officers to closely verify the IGST refund claims before sanctioning them. In a letter to field offices, the CBIC said it …

Automated GST refunds for exporters by next month as revenue department plans to introduce faceless scrutiny
5 years, 8 months ago

Automated GST refunds for exporters by next month as revenue department plans to introduce faceless scrutiny

Firstpost  

Since the GST Network systems are integrated with Customs, hence, refunds are generally transferred to the bank accounts of such exporters within a fortnight. New Delhi: Exporters of goods and services as well as suppliers to special economic zone units are likely to get GST refunds automatically from June as the revenue department plans to introduce faceless scrutiny of refunds …

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