Page 5 - Igst

IGST credit accrued in FY18 won't lapse even if not availed, assures FinMin

The ministry also advised taxpayers to file the correct data about tax payment and other details as reported in monthly sales returns in annual return GSTR-9 by omitting the auto populated data

Why Integrated GST still remains a grey area under goods and services tax

This part of the new tax has not still been fully resolved, and many states do not even know how it is being shared between them and the Centre

SC turns down petition by govt against IGST exemption to exporters

In advance authorisation licence is issued to allow duty-free import of inputs, which are physically incorporated in export products

Public interest and pre-import clauses

IGST on imported goods is levied and collected in accordance with Section 3(7) of the Customs Tariff Act, 1975

Exporters move Gujarat, Delhi High Courts over control on IGST refunds

An amendment was carried out in CGST Act in January to insert the sub-section 10 in Rule 96 to disallow exporters from taking refund of IGST paid on exports with retrospective effect of October, 2017

Exporters get Delhi HC relief over integrated goods and services tax

The court had issued an interim order to prohibit charging of IGST on imports under the scheme

No IGST on import of specific sports goods; fraternity hails move

Also, restaurants in hotel premises having room tariff of less than Rs 7,500 per unit per day will attract GST of 5% without ITC

Can supplier adjust deposited CGST and SGST with IGST?

No requirement under GST law to pay interest at 18% per annum because of delay in filing of the returns

'IGST on high-seas sale of imports is levied only during customs clearance'

The importer would be required to furnish the entire chain of documents, says the author