Incentive received under agreement from manufacturer for completion of targets, while goods were purchased from distributors, would not be treated as trade discount and the same would be liable to be included in taxable value.
Appellate Authority for Advance Ruling, Maharashtra MEK Peripherals India (P.) Ltd., In re – [2023] 151 taxmann.com 351 (AAR – MAHARASHTRA).
Limitation period for filing appeal u/s 107 of GST Act is not 120 days but 4 months.
Shri Ram Ply Products v. Addl. Comm. Grade 2 Appeal State tax – [2023] 151 taxmann.com 282 (Allahabad).
Sec. 98 of CGST Act – AAR – Where application for advance ruling was rejected on ground that assessee, having benefit of contract for construction of pumping stations and reservoirs etc., had filed application after expiry of the contractual period, opportunity of hearing contemplated in the statute was rendered a mere formality and application was to be restored for reconsideration.
KBL SPML JV v. Authority of Advance Ruling – [2023] 151 taxmann.com 272 (Karnataka).
As per Notification No. 10/2023 – Central Tax dated 10-5-2023, the threshold for e-Invoicing for B2B transactions has been lowered from Rs. 10 Cr. to Rs. 5 Cr. with effect from 1-8-2023. Now, GSTN has enabled all eligible tax payers with an aggregate annual turnover of Rs. 5 Cr. and above as per GSTN records in any preceding financial year for e-Invoicing. These tax payers are now enabled on all six IRP portals including NIC-IRP for e-Invoice reporting.
ITC cannot be denied merely because registration of supplier was cancelled with retrospective effect.
Gargo Traders v. Jt. Comm., Commercial Taxes (State tax) – [2023] 151 taxmann.com 270 (Calcutta).
CBIC issues new guidelines for processing of applications for GST registration.
Instruction No. 03/2023 – GST, dated 14-6-2023.