Blogs
Common mistakes while filing RoDTEP Annual Return
If the RoDTEP claim of an exporter exceeds Rs. 1 crore, he is required to file the ARR within 31st March of the subsequent financial year. For FY 2023-24, the due date to file this return is extended till 30 June 2025[i]. Since this is a new return and involves estimations and assumptions, the exporters and consultants are still familiarizing themselves with the process and computation methods. This increases the chances of inadvertent errors, and wrong filings which may lead to a...
ISD - Advanced Issues
Introduction
Input Service Distributor (ISD) is a concept existing from the Service tax era. In GST regime, by way of Circular 199/2023 and specific interpretation of ISD provisions it was understood to be an optional compliance till 31.03.2024. However, from 1st April 2025 it is mandatory with necessary changes in the ISD definition w.r.t third party invoices which is attributable to another GSTIN or is attributable to two or more GSTINs with same PAN.
Key Features of GST-ISD are:... Read more
GST on Branch Transfers in the Textile Industry: Issues and Solutions
The implementation of GST in India has significantly impacted branch transfers within the textile industry, where the movement of goods between units with separate GSTINs (even under the same PAN) is considered a taxable supply. According to Para 2 of Schedule-I of the Central Goods and Services Tax (CGST) Act, 2017, supplies of goods or services or both between distinct persons, even without consideration, are treated as taxable supplies. This has led to several issues affecting...
Read moreImpact of the US Tariffs on the Textile Industry in India
The United States plays a pivotal role in the global textile and apparel market, both as a major importer and exporter. In 2024, the U.S. imported textiles and apparel valued at approximately $107 billion, marking a 2.6% increase from the previous year. However, during the first half of 2024, imports experienced a 3.58?cline, totaling $49.3 billion, influenced by inflationary pressures and supply chain challenges. The U.S. market is one of the most critical destinations for Indian...
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