Chennai Customs wants to have it both ways.Insist on IGST payment from the transferor at the time of transfer demanding proof of payment for allowing clearance from the warehouse as the Circular 46 is still alive And collect IGST on the sale price on the ex bond bill of entry from the transferee-even before the Finance Act is passed! No end to the ingenuity of the tax collector.And we may expect another circular from CBEC to make tax payers go around In circles till they drop dead.
Writ petition challenging constitutional validity of Section 140(3)(iv) of CGST Act dismissed by Bombay High Court; refuses to strike down 1 year time limit for transitional credit availment; holds transitional credit under GST law is a clear case of concession; no discrimination of dealers vis-a-vis manufacturers/service providers
SC admits misuse of SC/ST Act; says no immediate arrest of public servants
Sushma Swaraj admits that 39 Indians kidnapped by ISIS are officially dead