ITC cannot be refused if the documents are valid
The Petitioners were purchasers of goods and services. The Respondent refused to grant ITC on the said goods, basis the facts that the suppliers from whom the Petitioners claimed to had purchased the said goods was all fake and non-existing and the bank accounts opened by those suppliers was fake as well. Therefore, the documents submitted by the Petitioners were not accepted by the Respondent.
Union Budget 2022-23 - Ushering into Amrit Kaal
In a bid to lay down the foundation for the coming 25 years, the Hon’ble Finance Minister Smt. Nirmala Sitharaman has indeed announced an ambitious Budget. From proposing highway connectivity projects, to allocating resources for the ‘Nal Se Jal’ Scheme, and boosting infrastructure development in the North East, the Union Budget ’22 has undoubtedly laid down the stepping stone for the future.
IGST applicable on supply of goods outside India from Outside India till 31 January 2019
The Appellant, engaged in the business of supply of pumps, had received a purchase order from Bangladesh. Upon receipt of such purchase order, the parent Company of the Appellant, situated in Poland directly shipped the goods to the customer is Bangladesh. In view of the above, the Appellant had sought an advance ruling before the Gujarat AAR.
Due date for submitting Scrip-based Applications extended
The DGFT vide Notification No. 58/2015-2020 dated 7 March 2022 has extended the due date for submitting applications for scrip-based schemes in the manner as tabulated hereunder:
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