Calcutta High Court held that GST circulars issued in 2022 cannot retrospectively restrict refund claims when the taxpayer’s right to claim refund had already accrued and the application was filed ...

The High Court set aside the adjudication order for FY 2019-20, holding that the benefit of Circular No.183/15/2022-GST cannot be denied where identical errors exist. Authorities were directed to ...

The government has brought much-needed clarity and a dose of festive cheer with a new GST circular, stating that post-sale discounts are not taxable as services. This is a big win for companies, ...

The government’s recent circular has brought clarity on trade discounts and credit notes under the GST regime, but has shifted compliance obligation and cash-flow pressure onto FMCG distributors, ...

The discussions come in the backdrop of several sectors highlighting that, after the recent GST rate rationalisation, many finished goods such as FMCG products, food, and medicines now face a 5 per ...

A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow pressure for FMCG distributors due to accumulated input tax credit.