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Clarification in respect of certain challenges faced by the registered persons in implementation of provisions of GST Laws

15 Jun    Indirect Taxation
Jun 15

Clarification in respect of certain challenges faced by the registered persons in implementation of provisions of GST Laws

The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 137/07/2020-GST to clarify certain challenges being faced by taxpayers in adhering to the compliance requirements under various provisions of the CGST Act, such as, advance received by a supplier for a service contract which subsequently got cancelled; goods supplied by a supplier under cover of a tax invoice are returned by the recipient; Letter of Undertaking (LUT) furnished for the purposes of zero rated supplies has expired on 31.03.2020; while making the payment to recipient, amount equivalent to one per cent was deducted as per the provisions of section 51 of Central Goods and Services Tax Act, 2017 i. e. Tax Deducted at Source (TDS), whether the date of deposit of such payment has also been extended; has the due date for filing an application for refund falling during the period from 20.03.2020 to 29.06.2020 has also been extended till 30.06.2020