Author: Pushkar Mer

Guidelines for conducting investigations with regular taxpayers while preserving business ease have been released. The GST officials are now expected to abide by the directives and obtain the relevant authorizations prior to commencing any inquiries against the taxpayers. (Instruction No. 01/2023-24-GST (Inv.) dated March 30, 2024)

पिछले कुछ समय में कम्प्यूटर साइंस ने ज़बरदस्त तरक़्क़ी की है । ख़ासकर आर्टिफ़िशल इंटेलिजेन्स में नए नए कीर्तिमान गढ़े हैं । कुछ समय पहले एक अच्छी पावरपोईंट प्रेज़ेंटेशन बनाने में घंटों लगते थे जबकि ए आई ने इसे कुछ मिनटों का काम बना दिया है । कुछ समय पहले कुछ भी सवाल होता था तो हम सर्च इंजिन गूगल या बिंग की मदद लेते थे जो अब बीते दिनों की बात हो गई है । अब शेयर जी पी टी जैसे कई ए आई टूल आ गए हैं जिनके पास आपके हर सवाल का सटीक उत्तर हैं । ए आई की दुनिया से ताल से ताल मिलाते हुए अब गूगल ने ए आई टूल गूगल बार्ड लॉंच कर दिया है । माइक्रसॉफ़्ट ने कोपाईलेट लॉंच कर दिया है । क्विलबॉट डॉट काम आपको मैल राइटिंग में मददगार है । ए आई ने लगभग हर क्षेत्र में अपनी उपस्थिति दर्ज कराई है और जिस रफ़्तार से ए आई तरक़्क़ी कर रहा है वो वाकई क़ाबिले तारीफ़ है ।

‘Arbitrary withholding of refund claims for specific periods, despite precedents, is contrary to principles of fairness and equity’: Allahabad High Court grants relief to Samsung India Electronics Pvt Ltd. When the department has allowed refund for a specific period basis a particular set of facts, then in absence of any change in the circumstances and the facts, it is not justified on part of department to deny subsequent refund claims.

By setting aside the cancellation and revocation orders, the Court has restored the GST registration of Rane Brake Lining Limited, providing relief to the petitioner. This decision of honourable Delhi High court is a explicit message about importance of procedural compliance in the GST regime.

In Form-3CD:

• In clause 8a – Section 115BAE is inserted for optional tax regime.

• In clause 12 – Section 44ADA is inserted for presumptive taxation.

• In clause 18(ca) – Adjustment to the WDV for depreciation is made under the different proviso to section 115BAA, Section 115BAC/115BAD, Section 115BAC with corresponding changes in clause 32 for details of brought forward loss or depreciation allowance.

• In clause 19 – Section 35ABA is inserted for admissible amounts.

• In clause 21 – Disclosure is now required for expenditure for any purpose which is an offence or prohibited by law or expenditure incurred to compound an offence etc.

• In clause 21 – Disclosure is required to be made for payment where tax deducted but not paid by Section 139(1) due date

• In clause 26 – Reporting in respect of compliance u/s 43B(h) relating to amount payable to MSME.

In Form-3CEB

Details of Specified Domestic Transaction (‘SDT’) need to be provided regarding transactions between person referred in Section 115BAE(4) resulting in more than ordinary profits. Now, the name of person with whom SDT has been done, transaction details, amount received/receivable or paid/payable and the method used to determine ALP need to be provided.

As per master circular of Reserve Bank of India, all remittance against import of goods or service should be made within 6 months of import. However, AD Category – I bank can extend time period up to 1 year for trade payable and 3 years for Capital goods in  following conditions.

(i) AD Category – I banks can consider granting extension of time for settlement of import dues up to a period of six months at a time (maximum up to the period of three years) irrespective of the invoice value for delays on account of disputes about quantity or quality or non-fulfilment of terms of contract; financial difficulties and cases where importer has filed suit against the seller. In cases where sector specific guidelines have been issued by Reserve Bank of India for extension of time (i.e. rough, cut and polished diamonds), the same will be applicable.

(ii) While granting extension of time, AD Category –I banks must ensure that:

1. The import transactions covered by the invoices are not under investigation by Directorate of Enforcement / Central Bureau of Investigation or other investigating agencies;
2. While considering extension beyond one year from the date of remittance⁸, the total outstanding of the importer does not exceed USD one million or 10 per cent of the average import remittances during the preceding two financial years, whichever is lower; and
3. Where extension of time has been granted by the AD Category – I banks, the date up to which extension has been granted may be indicated in the ‘Remarks’ column.

(iii) Cases not covered by the above instructions / beyond the above limits, may be referred to the concerned Regional Office of Reserve Bank of India.

(iv) The above shall be reported in IDPMS as per message “Bill of Entry Extension” and the date up to which extension is granted will be indicated in “Extension Date” column

An unsigned Order is no Order in the eyes of law and also it cannot be covered under any mistake, defect or omission. Therefore, it was set aside