For the purpose of ensuring uniformity in the implementation of GST provisions, CBIC has issued clarifications vide. Circular No. 160/16/2021-GST dated 20.09.2021 in respect of the following issues: 1. What will be the relevant date for determining “Financial year” for the purpose of provisions of Section 16(4)? 2. Is refund of unutilised ITC prohibited where […]
On 16th September, 2021 GSTN released an advisory in order to address the issue being faced by taxpayers where movement of goods happens to be involved, but the principal supply is that of “service” in accordance with Schedule II of GST, like in the case of printing, work contract, etc, and therefore the taxpayers are unable […]
Taxpayers under GST are mandated to declare specified digits of HSN/ SAC at the time of raising invoices with effect from 1.4.2021, in accordance with Notification No. 12/2017-Central Tax dated June 28, 2017. In case the aggregate turnover in the preceding financial year is upto INR 5 crores, the number of digits will be 4. […]