Quvisor’s refresher on Legal updates in India: July 24, 2021

GST: Applicability of IGST levy on re-importation of repaired Aircrafts or its parts: SC granted stay against Dept. Appeal EXCISE/ST/VAT : SC admits appeal to decide whether duty of customs referred to in condition of Exemption Notification No. 45/2017-Customs, dated 30-6-2017 would not include integrated tax Transitional Credit under GST regime- Vested Right or Concession?Section 140...

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Quvisor’s refresher on Legal updates in India: July 17, 2021

GST: DGFT invites suggestions for New Foreign Trade Policy (2021-26) The Foreign Trade Policy (2015-2020), was extended till 30 September 2021. In order to prepare a new five year Foreign Trade Policy, suggestions/inputs are invited from various stakeholders. CBIC notified exchange rates effective from July 14, 2021The Central Board of Indirect Taxes and Customs has notified...

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Quvisor’s refresher on Legal updates in India: July 03, 2021

GST: HC admits petition against notice issued to reverse ITC on account of non-payment of tax by seller, demand stayed GST : Where GST authority issued notice to reverse input tax credit claimed by assessee-buyer on account of non-payment of tax by seller, writ petition was admitted for hearing and revenue was directed to file reply;...

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Quvisor’s refresher on Legal updates in India: June 26, 2021

GST: Unravelling the concept of ‘Injury’ under Anti-Dumping Law Under Anti-Dumping law, dumping is said to have taken place when an exporter sells a product to India at a price less than the price prevailing in its domestic market. ITC reversal if payment terms are beyond 180 days: A Nightmare during pandemicOne of the pre-requisites...

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Quvisor’s refresher on Legal updates in India: June 17, 2021

GST: Requirement of issuance of show cause notice when only interest not paid under GST In a case where duty, interest and penalty are demanded, without any ambiguity show cause notice (‘SCN’) has to be issued under section 73/74 of the Central Goods and Services Tax, 2017 (‘CGST Act’). Claim of GTA credit can’t be...

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