Alerts & Updates 12th Jul 2024
The CBIC previously issued 16 circulars on June 26, 2024, to give effect to the recommendations and proposals made by the GST Council in its 53rd Meeting. In continuation of this, Notifications and another series of Circulars have been issued on July 10 & 11, 2024, to address industry concerns and provide clarity on various issues.
Our tax update provides an analysis on the said Notifications and Circulars which inter alia include the new Form GSTR-1A, valuation of corporate guarantee, refund of additional tax paid due to upward revision in export price of goods, stay on demand confirmed in order of first appellate authority when appeal is proposed to be filed before Appellate Tribunal etc.