GST Daily – Editorial Team
Dear Reader,
Today’s newsletter analytically summarizes the top GST stories reported at taxmann.com.
The applicant was engaged in the business of production and processing of agricultural seeds. It filed an application for an advanced ruling to determine whether cleaning, drying, grading and treatment with chemicals by the applicant would be exempt from payment of GST. ? ? ?
The Authority for Advance Ruling observed that seed and grain are not one and the same. The law applicable to grain and seed will be different and therefore concessions applicable to grain produced by a cultivator will not be applicable to seed. In the instant case, the applicant was supplying goods which are produced from the cultivation of plants. However they are of seed quality and not grain, therefore they are not meant for food, fibre, fuel or raw material for further processing. Moreover, the processing done to turn grain into seed quality goods would be different from the processing done by a cultivator or producer of grain for primary market i.e., agricultural mandi or agricultural market yard. Therefore, the seed quality goods produced can’t be treated as agricultural produce and storage, loading, unloading & packing of seeds and undertaking processes like cleaning, drying, grading and treatment with chemicals would not be exempt from GST. ? ? ?
The Government has announced some relaxation to its order dated 13th May issued by Directorate General of Foreign Trade (DGFT), Department of Commerce on restricting wheat exports. It has been decided that wherever wheat consignments have been handed over to Customs for examination and have been registered into their systems on or prior to 13.5.2022, such consignments would be allowed to be exported. The Government also allowed a wheat consignment headed for Egypt, which was already under loading at the Kandla port on request by the Egyptian Government.
That’s it from us for today! Stay Tuned for more updates from?Taxmann.com
Register Now for Taxmann’s [Live] Classes | Reassessment proceedings under the Income-tax Act
1 Day | 1 Session | 2 Speakers | 180 Minutes
领英推荐
?? 26th May 2022 | ?? 4:00 PM - 07:00 PM (IST)
Fees: ? 795/- + GST @18% Extra
Register Now!?https://taxmann.social/P2I9
Faculty:
? CA Hemant Sharma | PhD, LL.B. | Practicing CA
He is a Practicing Chartered Accountant with 30+ years of experience in income-tax law. He has been awarded a PhD in Section 263 of the Income-tax Act, and he also holds a law degree. Mr Sharma regularly appears before Tribunal and CIT (Appeals). He regularly writes articles on intricate tax issues for Taxmann and is a speaker at CPE meets of the ICAI.
? Hardayal Singh | Erstwhile CCIT & Income Tax Ombudsman
He retired as a Chief Commissioner of Income-tax, New Delhi, in January 2007. Later, as Ombudsman to the Income-tax department, Mumbai, he established an effective grievance redressal mechanism for taxpayers. Mr Singh joined the Indian Revenue Service in the year 1970. He has co-authored about fifty management and economic/statistical studies. He regularly writes columns for the Financial Express, Hindu Business Line and Economic Times on public policy, taxation, ethics, vigilance and corruption.
Key Learnings:
?? New Scheme of Reassessment
?? Amendments by the Finance Act 2022
?? Analysis of the Supreme Court Ruling
?? Procedure to be followed by Dept.
?? How to Respond to 148/148A Notices?
?? Case Studies and Model Submission