Legality of withholding refunds of exporters as per circular No. 131/1/2020-GST

3 comments Saturday, May 23, 2020
Exports under GST are considered as zero rated i.e. no tax is payable on export of goods or services. A person making zero rated supply is eligible under GST to claim for refund of unutilized input tax credit. The refund can be claimed by an exporter in two ways as stated in section 16 of IGST act, 2017:
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Retrospective amendment in section 140 of CGST Act-An overview

2 comments Wednesday, May 20, 2020
Whenever a new tax regime replaces an old tax regime there are numerous changes which a taxpayer faces and there are  lot of legal challenges in the transition from old regime to new regime. For the smooth transition of the new tax regime it is quite common to introduce the transitional provisions under the new tax law.
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RECENT LEGAL ISSUES IN GST REFUNDS

5 comments Saturday, May 16, 2020

Refunds are the important part of any tax legislation. Refund is a drawback of the excess taxes paid to the Government subject to the conditions laid down in any law. Article 265 of our constitution provides a base behind legislation of refund provisions under any tax law, which provides that no tax shall be levied or collected except with the authority of law.
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