India – Amendment to the Authorised Economic Operator Programme

In 2016 as a part of the trade facilitation measure, Central Board of Excise and Customs (CBEC) had notified1 a revised Authorised Economic Operator (AEO) programme. The revised programme merged erstwhile Accredited Client programme and AEO programme.Read More »

India – CBEC clarifies that IGST would be levied twice on sale of goods lying in a customs bonded warehouse

The CBEC has issued circular no. 46/2017-Cus dated 24 November, 2017, clarifying that in case of sale of goods lying in a customs bonded warehouse before its clearance for home consumption, IGST is payable on the transaction of supply between original importer and the buyer, and also, at the time of clearance of such goods by buyer, as a part of the customs duty. Read More »

India – Government removes requirement of payment of GST on advances received for supply of goods and allows manual filing of refund applications

The CBEC has issued notification nos. 55-66/2017-Central Tax, Circular no. 16/16/2017-GST, 17/17/2017-GST and order no. 9-10/2017-GST, all dated 15 November, 2017. While majority of the amendments give effect to the changes announced in the 23rd GST Council meeting, there are a few other significant relaxations, Read More »

India – CBEC issues FAQs for IT/ ITES sector under GST Sectoral Series of FAQs

The CBEC has issued FAQs containing 29 Questions and Answers for “IT/ ITES” sector under ‘GST Sectoral Series’.

The FAQs give clarity on various issues affecting the IT/ ITES sector and cover several topics such as classification, rate, registration requirement for SEZ units, place of supply, input tax credits (ITC), input service distribution (ISD), composite supply, export of service, cross-charge and invoicing, etc.Read More »

India – CBEC issues notifications for amending tax rates on specified services

CBEC issues notifications for amending tax rates on specified services

The CBEC has issued notification nos. 20-23/2017-Central Tax (Rate) dated 22 August, 2017 amending tax rates on specified services. The news alert captures the changes made in each of the notifications in detail.Read More »