CIRCULAR NO. 14/2022-CUSTOMS, DATED 18-08-2022
CBIC issued a clarification on the BCD rate on import of display assembly of mobile phones
Editorial Note: The CBIC has issued a circular to clarify that 10% BCD shall be levied on the import of display assembly of mobile phones along with back support frame. However, 15% BCD shall be levied if the sim tray, battery compartment, fingerprint or any other item is imported with the display assembly.
NOTIFICATION NO. 70/2022 – CUSTOMS (N.T.), DATED 18-08-2022
CBIC notified exchange rates effective from August 19th, 2022
Editorial Note: The Central Board of Indirect Taxes and Customs has notified the rate of exchange of conversion of the foreign currencies into Indian currency or vice versa, with effect from 19th August 2022, for import and export of goods.
SECTION 2(30) OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – SUPPLY – COMPOSITE SUPPLY
Where assessee supplies electricity to DISCOMs and also provide other services i.e. training to employees of DISCOMs, medical reimbursement to employee etc, as per SGST Member supply of other services are naturally bundled with the supply of electricity as they cannot be supplied independently without the supply of electricity and therefore qualifies as composite supply and as per CGST Member Supply of other services are not naturally bundled with the supply of electricity and does not qualify as composite supply, in view of the difference of opinion between Members of Authority, no ruling can be issued on said question raised by Appellant – Uttar Pradesh Power Corporation Ltd., In re – [2022] 141 taxmann.com 324 (AAAR-UTTAR PRADESH)
SECTION 2(31) OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – CONSIDERATION
Book adjustments qualify as consideration as the definition of consideration includes book transfer/book adjustments and GST is payable on the same [per Member – CGST] – Uttar Pradesh Power Corporation Ltd., In re – [2022] 141 taxmann.com 324 (AAAR-UTTAR PRADESH)
SECTION 8 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – COMPOSITE AND MIXED SUPPLIERS, TAX LIABILITY ON
Extraction and collection of resin and transporting same to godown are in nature of composite supply; GST is payable at 5 per cent as applicable to resin on entire transaction – Registration of individual permit holders is required only where turnover exceeds threshold limit in terms of section 22 – Almora Van Prabhag, In re – [2022] 141 taxmann.com 325 (AAR- UTTARAKHAND)
SECTION 12 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – SUPPLY – TIME OF SUPPLY OF GOODS
Time of supply in case of the supply of goods is the time of issue of invoice i.e., time of final sale through open auction – Almora Van Prabhag, In re – [2022] 141 taxmann.com 325 (AAR- UTTARAKHAND)
SECTION 15 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – SUPPLY – TAXABLE SUPPLY, VALUE OF
Incidental expenses such as loading, unloading, etc. form part of taxable value – Almora Van Prabhag, In re – [2022] 141 taxmann.com 325 (AAR- UTTARAKHAND)
SECTION 22 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – REGISTRATION – PERSONS LIABLE FOR
Registration of individual permit holders is required only where turnover exceeds threshold limit in terms of section 22 – Almora Van Prabhag, In re – [2022] 141 taxmann.com 325 (AAR- UTTARAKHAND)
SECTION 37C OF THE CENTRAL EXCISE ACT, 1944 – SERVICE OF DECISIONS, ORDERS, SUMMONS, ETC.
High Court held that department could not recover demand amount without serving adjudication order; ordered refund of the amount collected in excess of the statutory pre-deposit amount required for filing an appeal; declared recovery by attachment of bank account as arbitrary and illegal – Haldia Petrochemicals Ltd. v. Assistant Commissioner, CGST & CE – [2022] 141 taxmann.com 323 (Calcutta)
SECTION 51 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – TAX DEDUCTION AT SOURCE
The government body is required to deduct TDS at 2 per cent while making payments in terms of section 51 where supply under a contract exceeds Rs. 2.5 lakhs – Almora Van Prabhag, In re – [2022] 141 taxmann.com 325 (AAR- UTTARAKHAND)
SECTION 75 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – DEMANDS AND RECOVERY – GENERAL
Where adverse assessment order was passed without issuing notice to the assessee, same was to be set aside – Sree Constructions v. Assistant Commissioner ST, KURNOOL – [2022] 141 taxmann.com 327 (Andhra Pradesh)
Source Taxmann
