Blogs

1. Interest for delayed payment – Tolerance of an Act Vs. Addition to Consideration

The Maharashtra Appellate Authority For Advance Ruling in Bajaj Finance Ltd 2020-TIOL-64-AAAR-GST has ruled the additional/penal interest recovered by the appellant from customers against delayed payment of monthly instalments of the loan extended to the customers would be exempt from GST.

Issue: Schedule II of the CGST Act, 2017 provides “agreeing to the obligation to refrain from an act, or...

1. Supply of goods and supply of service made form different registration of the same taxpayer is neither a works contract nor composite supply?

Maharashtra Appellate Authority for Advance Ruling in the case of Vertiv Energy Pvt Ltd 2020-TIOL-50-AAAR-GST has ruled when the goods are supplied from one registration and the installation of such goods has been made from different registration would not be a composite supply.

Facts:

1. Single contract for supply and installation of...

1. Is the recipient eligible to claim a refund? Whether the refund of the unutilized ITC in the e-credit ledger be claimed?

In the case of M/s Britannia Industries Ltd Vs Union of India - 2020-TIOL-1495-HC-AHM-GST the assessee is an SEZ unit being an exporter has procured the goods and services with payment of GST to vendors through Input Service Distributor. Claimed the refund of the accumulated credit as a recipient. The refund was held to be eligible.

Things to ponder:

• Can...

Generally, any taxation law has many due dates relating to the various compliances. Under GST it has been seen that the month of September is a very important month as many of these due dates, though not falling in such month, are linked to this month i.e. the due dates are defined in different ways as below:

1. Due date of furnishing the return for the month or quarter of September
2. Actual date of furnishing the return for the month of September
3. By the month September.

From the...