The Central Board of Indirect Taxes and Customs (CBIC) released four circulars:
Circular No. 224 outlines a temporary process for making pre-deposits for appeals before the GST Appellate Tribunal. Additionally, the circular requires taxpayers to submit an undertaking or declaration to the relevant proper officer stating their intention to file an appeal against the appellate authority’s order before the Appellate Tribunal once it becomes operational.
This circular is expected to impact cases where the first appellate authority has upheld the demand issued by the adjudicating authority. Failure to make the required pre-deposit and submit the declaration may result in recovery actions against the taxpayer.
Circular No. 225 has been issued to provide additional clarification on the tax implications and valuation methods related to the provision of corporate guarantees between related parties.
Circular No. 226 has been released to outline the procedure for the reimbursement of any additional Integrated Tax (IGST) paid as a result of a price increase in exported goods.
Circular No. 227 has been issued in order to establish the guidelines for the electronic submission and processing of refund applications by the Canteen Stores Department (CSD).
The Central Board of Indirect Taxes and Customs (CBIC) released four circulars:
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