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TCS on Goods u/s 206C (1H) is applicable w.e.f 1st Oct. 2020. Let us decode the provision.
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 section 16 (3) reiterated below grants two options to the exporters of Goods or Services or both (a) to export goods or services under Letter of Undertaking (LUT)/Bond and claim refund of Input Credit.
Provisions related to ITC in respect of Motor Vehicles, other Conveyance, and repairs and maintenance thereof. The article contains the newly amended provisions regarding ITC on Motor Vehicles.
This article discuss about the applicability of IGST on the transactions known earlier as "Sale in the courcse of Import" under the CST; High Seas Sales
How the Consumer Prices will increase after GST is explained in the Article.
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