Mazars Tax Update | Edition 07.19

Indirect Tax News

CBIC has released excel based offline tool for GSTR-9 (Annual Return)

Offline utility can be downloaded from the GST portal from the following path:
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Due date for exercising option to avail old rates in respect of ongoing real-estate projects has been extended up to 20^th May, 2019

The due date for exercising such option has been extended from 10^th May, 2019 to 20^th May, 2019.
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AAR West Bengal in the case of Senco Gold Ltd. held that ITC shall be admissible when consideration is paid by way of book adjustment/setting off book debts

Facts of the Case:

• The applicant is engaged in the manufacturing and retailing of jewellery in addition to which the company also maintains a network of franchise-operated stores.

• The applicant has granted right and license to the franchise. The applicant raises invoice against franchise and franchise also raise invoice on the applicant. The applicant intends to settle mutual debts through book adjustments.

 Ruling:

• AAR held that unless the law specifically restricts the recipient from claiming the input tax credit when consideration is paid through book adjustment, credit of input tax cannot be denied on this ground alone.
• Therefore, the applicant can pay the consideration for inward supply by way of book debt.

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AAR Kerala in the case of Medicision Scan and diagnostic Research Centre (Pvt. Ltd.) held that services provided by way of Diagnosis in relation to health care services shall be exempt from tax falling under ‘Heath care services’

Facts of the Case:

• The applicant is a clinical establishment engaged in diagnostic services such as clinical laboratory, micro biology, radiometry, etc.

 Ruling:

• AAR held that services by way of diagnosis will come under the ambit of “health care services” under SAC 9993 and henceforth, exempt under GST law as per notification no.12/2017-CT(R).

 
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