CBIC issued circular clarifying certain issues arising under GST Law

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The Central Board of Indirect Taxes & Customs (“CBIC”) vide its Circulars No. 76/50/2018 – GST dated December 31, 2018 which clarified certain issues arising under GST law to ensure uniformity of implementation across field formations officer. The Gist of the clarification are discussed here under in a pointer:

  1. Sale by government departments to unregistered person.
  2. Leviability of penalty under section 73(11) of the CGST Act, 2017.
  3. Rate of tax in case of debit notes / credit notes issued under section 142(2) of the CGST Act.
  4. Applicability of the provisions of Section 51 of the CGST Act (i.e. Tax Deduction at Source) in the context of Notification No. 50/2018-Central Tax dated September 13, 2018.
  5. Valuation Methodology in case of Tax Collection at Source under Income Tax Act and definition of owner of goods.

The detailed clarification on various issues can be accessed at: http://www.cbic.gov.in/resources//htdocs-cbec/gst/Circular-No-76.pdf;jsessionid=1613E7CEA45D918F731158CE1A7DD58D