Interview with GST Expert CA Shaifali Girdharwal
CBIC issued a clarification on GST refund matters and GSTR-7. GST refund can be claimed either in GST RFD-01 or by issuing a credit note depending upon the circumstances.
A GST Return is a document that provides all the details related to GST invoices, payments, and receipts for a specific period.
Input Service Distributor(ISD) means an office of the Supplier which receives tax invoice for input service and issues a document for the purpose of distributing ITC.
The purpose to set up the concept of Advance Ruling Mechanism under GST was to provide clarity in terms of unanswered questions of the law and to remove the ambiguities which may later result in disputes between the Department and the registered persons.
Circular No. 137/07/2020-GST dated 13.04.2020 has been issued providing clarifications regarding certain challenges being faced by taxpayers in adhering to the compliance requirements under various other provisions of the CGST Act.
As per Advance rulings the place of supply of imported goods, it can be concluded that since the importer has no establishment or place of operation or any godown or GSTIN at the port of import, thus the place from where he ordinarily carries on his business shall be deemed to be the place from where he makes the taxable supplies.
We have come across number of decisions allowing the benefit of carrying forward the credit in GST regime on account of various technical glitches occurred in filing of TRAN-1 by various High Courts.
Detail Note on Inter-Branch Transfer of Expenses.
The Input Service Distribution is self explanatory that distributing the credit on common invoices pertaining to input services only and not goods (inputs or capital goods).
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