Please advice on how to claim duty drawback on custom duty paid on the purchases made from SEZ units. 1. Goods Purchased from SEZ, Chennai Company name ABC by Mumbai Based Company.name XYZ 2. Mumbai Based company directly export from Chennai to Gulf Country 3. ABC Company charged Custom D...
For instance, revisions to the claimed input tax or changes to the purchase price may impact the refund claim. In some circumstances, receiving a GST refund for GST-exempt supplies may not be possible. Exempt supplies are items or services expressly excluded from the scope of the GST tax; ...
Central Tax Notification No 44 of 2017 dt 13th October, 2017 under GST CUSTOMS Notification No. 89 of 2017 dt 24th November, 2017 Central Tax (Rate) Notification No 38 of 2017 dt 13th October, 2017 under GST How to claim IGST refund on exports? Export procedure changes after GST implementa...
Claim Input Tax Credit Filing GST returns on time helps businesses claim input tax credit. This allows them to easily deduct payable tax on overall sales and the tax paid on purchases. Businesses can use this credit by filing GST returns on time. Benefit From Government Initiatives Government-ba...
IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE. '; /* Get the...
During the audit for the financial year, if the GST auditor finds out any case of short payment of tax or excess claim of theinput tax credit, the taxpayer must make voluntary payment through form DRC-03. This payment consists of taxes, interest, and penalties. The GST Auditor is required...
# Better Relationship with your prospects Filing GST Returns on time will let your customers claim input credit smoothly hence maintain a healthy relationship with good prospects # Better Compliance Rating Government of India has proposed to start the compliance rating system under which scorecard of ...
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Does this activity consist only of a transaction in money or actionable claim?Once a person indulges in providing taxable services and his turnover exceeds Rs. One million during any financial year he must have to register himself under service tax department.Rate...
If a Shipment has been fully or partially lost, or if any damage has been incurred upon delivery, the Shipper must submit an insurance claim as soon as possible within the amount of time prescribed by the Shipper’s insurance policy. The insurance coverage will not be applicable for abandoned...