Newsletter/Booklets 18th Sep 2023

Indirect Tax Newsletter – August 2023

Authors

Gopal Mundhra Partner | Mumbai
Parth Parikh Associate Partner | Mumbai
Swati Agarwal Senior Associate | Mumbai

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In the month of August 2023, several key changes to the administration of indirect tax laws through amendments, notifications, circulars etc. have been announced as follows:

-Clarification on the taxability of supply of food and beverages in cinema hall as a restaurant service

-Revision of import policy from free to restricted for laptops, tablets, all-in-one personal computers, and ultra small form factor computers and servers

-Introduction of definition of online gaming, online money gaming, specified actionable claims and virtual digital asset into the GST regime

-Amendment in Schedule III of the GST Acts to provide clarity on taxation of supplies in relation to casinos, horse racing and online gaming

-Introduction of system-based intimation in DRC-01C regarding excess availment of Input tax credit in Form GSTR-3B vis-à-vis Form GSTR-2B

Additionally, several judgments in matters related to reversal of credit on mismatch of Input tax credit, refund of pre-deposit, simultaneous investigations, principles of prospective / retrospective amendments under GST, etc. have been discussed

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