1. where by guarantee is provided by the manufacturer/ suppliers to the customers in respect of any items, and if any defect is detected from the mentioned products during the warranty period of time, the manufacturer could possibly be needed to get more info exchange possibly one or more pieces or the products as such, dependent upon the extent of harm/ defect found in the stated items.
With this regard, it has been clarified that irrespective of the fact that the payment of repair providers to your garage is 1st created by the insured get together, that's then reimbursed because of the insurance provider(ies) on the insured celebration, the ultimate liability to pay for the permitted declare cost of fix lies with the insurance provider(ies) and therefore, insurance company(ies) is going to be covered underneath the definition of “receiver”, and appropriately ITC is going to be accessible to this kind of insurance plan organizations.
three. In case of import of products and services, the registered individual in India is needed to challenge self-Bill and pay tax below reverse charge system.
1. According to sec sixteen(two)(a) of CGST Act, no registered particular person shall be entitled to assert ITC in regard of any provide of goods or providers or both of those Unless of course He's in possession of the tax Bill or debit Observe issued by a provider registered under this act.
nonetheless, once the operation to file Form DRC-03A is activated, the said application should be filed on the earliest; any failure to do so could result in the initiation of recovery proceedings.
In essence, whether or not sections or the products alone are changed below guarantee, ITC reversal is not required.
2. Further items or pieces thereof if replaced by means of distributor, In this kind of case, no GST is payable on these replenishment of products or the sections, as the case could be.
3. in conditions, where by the invoice is just not issued on or just before the required day or the day of completion from the occasion specified in the contract, According to clause (b) of portion 13(2), time of supply needs to be the date of provision from the support, or date of receipt of payment, whichever is previously.
The recommendations created by the Council looks effective and will definitely assist minimize tax disputes and calls for. Primarily, waiver of desire and penalty and clarification issued qua timeline for availment of ITC will bring much awaited aid to tax payers.
five. No interest applicable on quantity current during the electronic dollars ledger over the because of day of filing type 3B which is debited at the time of filing 3B
enter tax credit can be accessible to the insurance company over the mentioned Bill issued into the insurance provider matter to reimbursement of reported sum by insurance provider to The client.
6. To explain that every kind of sprinklers which includes fireplace drinking water sprinklers will bring in 12% GST and also to regularise the previous observe on ‘as is the place is’ basis in check out of real interpretational concerns.
Rule 88B of CGST Rules is proposed to get amended to provide that the quantity accessible in the Electronic money Ledger (“ECL”) over the thanks day of filing of variety GSTR-3B, and it is debited whilst submitting the reported return, shall not be provided while calculating desire underneath portion fifty with the CGST Act in respect of delayed filing of return.
3. The form could be readily available on portal immediately after due date of sort GSTR-1 or precise submitting of kind GSTR-one whichever is later on, till submitting of sort GSTR3B of the identical return time period. Same is relevant in case of Quarterly taxpayers.