WEEKLY GST DIGEST FOR APRIL 25 ~MAY 01, 2020

TANWAR ATUL & ASSOCIATES

TANWAR ATUL & ASSOCIATES

1) Notifications

a) Effective date of rule prescribing inter-head transfer of amount in cash ledger notified: Rule 87(13) of Central Goods and Services Tax Rules, 2017 providing for an option for inter-head transfer of amount, by filing PMT-09, lying in cash ledger has been made effective from April 21, 2020. Notification No. 37/2020-Central Tax dated April 28, 2020

2) GSTN Updates

a) Advisory to file GST PMT-09: GSTN has issued advisory regarding filing of Form GST PMT-09 for transfer of cash balance from one head to other. Further, detailed FAQs have also been issued in respect of the same.
GSTN Advisory dated April 27, 2020

3) National Anti-Profiteering Authority Rulings

a) Anti-profiteering provisions to apply in cases where commensurate benefits are not passed in respect of each supply at invoice level: Where a supplier has not passed on the benefit of tax rate reduction by way of a commensurate reduction in prices on each of his supplies at the level of each invoice, anti-profiteering provisions will apply. Increase or decrease in cost of supplier due to royalty, advertisement costs etc. has no relevance in so far as the provisions of anti-profiteering are concerned. Assistant Commissioner of State Tax (Pune 3), Pune & DGAP v. M/s N. Rai Delights LLP

Disclaimer

Information contained herein are only for reference purposes and are based on the information publicly available as on the date of this publication. The author takes no responsibility for its reliability and accuracy. It is advised to take appropriate legal/professional advice before undertaking any business activity or otherwise based on the above. 

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