Ques: Goods confiscated by roving squad and asking 200 percent penalty for small error in address line

Ans: There are many judgement which are in your favour where small typo error without any malicious intent can be condoned by department. Use those judgement from Taxo.online

Ques: WHETHER ITC AVAILABLE ON PURCHASES MADE WSHERE THE GST REGISTRATION IS SUOMOTO CANCELLED FROM 1/7/2017 AND WHEN WE MADE THE PURCHASES THE DEALER WAS ACTIVE (CASE LAW IF ANY IN THIS SUBJECT THIS IS FOR FY 2018-19

Ans: In case it’s suo motto cancelled then you has only remedy to use sun craft judgement from Kolkata high court and circular no 171 issued by department to reduce gravity of the case. Both are available on Taxo.online

Ques: Our query relates to the applicability of the Reverse Charge Mechanism (RCM) on factoring services received from foreign finance companies. To ascertain the taxability of this transaction, it is essential to consider the provisions of Section 13(8)(a) of the IGST Act.

According to Section 13(8)(a), the place of supply for services provided by banking companies, financial institutions, or non-banking financial companies to account holders is the location of the service provider. Consequently, if factoring services are provided by a financial institution or a non-banking company located outside India, the place of supply will be considered to be outside India, i.e. the location of the service provider.

In light of the above, such transactions will not fall under the purview of an import of service as defined under the GST framework. Therefore, GST will not be applicable to these services.

Please share your perspective on the above interpretation.

Ans: Section 13(8(a) covers services provided to account holder. “Account” has been defined in Explanation (a) to Section 13(8) of the IGST Act, 2017 to mean an account which bears interest to the depositor, and includes a non-resident external (NRE) account and a non-resident ordinary (NRO) account. Services provided to holders of demand deposits, term deposits, NRE account and NRO account outside India will be covered by the definition of account referred to above. Examples of such services are :
(i) services linked to or requiring opening and operation of bank accounts, such as, lending and deposits;
(ii) transfer of money including telegraphic transfer, mail transfer, electronic transfer, etc.

Place of supply of all other services provided by banks or finance companies will be location of service receiver.