Michaela Merz


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INDIA: News on Trade and Taxes


Trade war reaches Indian shores

USA recently partially revoked concessional tariffs offered under the Generalised System of Preferences (GSP) to less developed and developing countries. GSP, described as USA’s oldest and largest trade preference program (of which India was the largest beneficiary), revoked concessional customs duties offered on approximately 90 items. Continue reading


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SINGAPORE: Customer accounting for prescribed goods


From 1 January 2019, customer accounting is applicable to a relevant supply of prescribed goods exceeding $10,000 made by a GST-registered supplier to a GST-registered customer.

The prescribed goods are mobile phones, memory cards and off-the-self software. Continue reading


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India: GST latest update


What has happend the last two weeks regarding GST? Find out more about the Supreme Court of India, draft of simpliefied formats of GST returns, different figures and numbers of GST and what to expect in the near future. Continue reading


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Australia – GST on Low Value Goods – Commencing from 1 July 2018


You are no doubt aware that in just ​a couple of days (1 July 2018) the new Australian low value goods import laws are coming into force.

Who is Affected?

​​Any business that meets the AUD $75,000 registration threshold and ​sells low value goods​ (under $1000)​ into Australia to ​​consumers will be affected. Continue reading


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Australia – GST on low value goods as from 1st of July 2018


From 1 July 2018 Australian goods and services tax (GST) will apply to sales of low value goods sold to consumers in Australia. Businesses that meet the A$75,000 registration threshold will need to register for GST, charge GST on relevant sales and remit the GST to us by lodging returns. Continue reading


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India: Government issues clarifications to further ease the procedure for filing and sanction of export refunds


Based on representations and to ensure uniformity in the implementation of the refund provisions relating to export of goods and services, the Central Board of Excise and Customs (Board) has issued Circular No. 37/11/2018 – GST dated March 15, 2018 to clarify various aspects relating to processing and sanction of refund claims. Continue reading


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India – SC holds that no service tax is payable on reimbursable expenditure or cost incurred by the service provider before 14 May, 2015


Background
Section 67 of the Finance Act, 1994 (the FA, 1994) deals with the valuation of taxable services for the purpose of levy of service tax. Further, the Service Tax (Determination of Value) Rules, 2006 (the Rules) were also issued, to specify inclusion or exclusion of various amounts in the value of taxable services. Continue reading