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Advisory for Taxpayers regarding Generation of EWB where the principal supply is Supply of services.

The GSTIN has issued an advisory dated 16th September 2021 for taxpayer regarding generation of E-Way bill where the principal supply is supply of services. Representations have been received from various trade bodies stating that they are not able to generate EWB bill for movement of those goods where their principle supply is classifiable as […]

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Action to be taken on or before filing returns for Sept 2021

Transactions relating to the tax period April 2020 to March 2021 may be rectified while filing returns for September 2021 (Due date for filing GSTR 3B for September 2021 is 20th / 22nd / 24th October 2021). No additional claim of missing ITC may be made available post filing of September 21 returns. Taxpayer may lose the right to claim

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Revocation application for cancellation of registration timeline extended up-to 30th Sept 2021

In view of the notification 34/2021 -Central dated 29th Aug 2021, where the due date of filing of application for revocation of cancellation of registration falls between 1st March 2020 to 31st August 2021, the time limit for filing such application for revocation of cancellation of registration has been extended up to 30th September 2021. The

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Analysis of RoDTEP Scheme (Remission of Duties and Taxes on Exported Products Scheme)

Remission of Duties and Taxes on Exported Products Scheme (RoDTEP) S. No. Heading Relevant Provision 1 Notification Number and issuance Date Notification No. 19/2015-20 dated 17th August, 2021 2 Objective To replace the existing MEIS (Merchandise Exports from India Scheme) 3 Effective Date of commencement of Scheme 1st January, 2021 4 What is RoDTEP Scheme?

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GST on Liquidated Damages:

BY: CA MANU KATARE Meaning of Liquidated Damages: Liquidated Damages a nomenclature used very commonly in construction industry, engineering, procurement and commissioning (EPC) contracts to recovery losses or levy penalty for non- performance or deviation from the terms agreed in the supply agreement by vendor/supplier. The vendor may also recover Interest for delay in payment

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