GST NEWS BULLETIN

Value of diesel provided free of cost by service recipient not includible in the value of GTA service

As per Rajasthan Advance Ruling in M/s. Sunil Giri case, it was held that where the service provider receives free of cost goods/material from the service recipient for which no separate amount is charged for such goods/material, the value of such goods/ materials cannot be included in the gross amount charged by the service provider for the service provided by him.

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Supreme Court Allows 2 - Months Extra Window for Availing Transitional Credit

Goods and Services Tax Network (GSTN) is directed to open common portal for filing TRAN1/TRAN2 forms for availing Transitional credit for two months i.e. w.e.f. 1st September,2022 to 31st October,2022. Any aggrieved taxpayer is directed to file the relevant form or revise the already filed form irrespective of whether the taxpayer has filed any petition before the high court.

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