This article would help persons who have large number of foreign clients, persons who attend foreign business events held outside India, or have holding company outside India including procurement of services from outside India.
The FM announced changes in GST Rules due to the outbreak of COVID-19. Due dates to file GST Returns were extended and relaxation was given from late fees on late filing.
GST Refund Clarification on refund related issues
Relaxation to the taxpayers under GST amidst COVID-19 crisis
Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayer, Ministry of Finance, Department of Revenue, CBIC, has extended the due date for Filing GST Returns
Recently CBIC has issued Circular and brought amendment to CGST Rules, 2017 to bring major changes for claiming refund under GST. It include submission of additional details, realization of exports proceeds, documents and additional compliance, etc.
Certain important amendments have been made in connection with refunds, in the CGST Rules, 2017, which are explained in this article.
CBIC has issued notifications and circular under GST Laws to implement the relief measures announced by Hon'ble Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman on 24th of March 2020.
In the view of the outbreak of COVID-19 the Finance Minister on the 24th of March 2020 had given various relaxations to the taxpayers by extending various due dates, reducing the tax rates, waiving off the penalty, and the late fees.
Refund Of ITC On Capital Goods: A Possible Perspective
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