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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. 138/08/2020-GST to clarify certain challenges being faced by taxpayers in adhering to the compliance requirements under various provisions of the CGST Act, such as, issues related to Insolvency and Bankruptcy Code, 2016; a registered supplier is allowed to supply the goods to a registered recipient (merchant exporter) at 0.1% provided, inter-alia, that the merchant exporter exports the goods within a period of ninety days from the date of issue of a tax invoice by the registered supplier, whether the requirement of exporting the goods by the merchant exporter within 90 days from the date of issue of tax invoice by the registered supplier has also been extended to 30th June, 2020; to clarify the due date of furnishing of FORM GST ITC-04.