Ministry of Finance 

03.10.2019

Goods and Services Tax

Procedure to claim refund in FORM GST RFD-01 subsequent to favourable order in appeal or any other forum

MANU/GSCU/0045/2019

Doubts have been raised on the procedure to be followed by a registered person to claim refund subsequent to a favourable order in appeal or any other forum against rejection of a refund claim in FORM GST RFD-06. The matter has been examined and in order to clarify this issue and to ensure uniformity in the implementation of the provisions of the law across field formations, the Board, in exercise of its powers conferred by section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as "CGST Act"), hereby clarifies the issues raised as below:

2. Appeals against rejection of refund claims are being disposed offline as the electronic module for the same is yet to be made operational. As per rule 93 of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as "CGST Rules"), where an appeal is filed against the rejection of a refund claim, re-crediting of the amount debited from the electronic credit ledger, if any, is not done till the appeal is finally rejected. Therefore, such rejected amount remains debited in respect of the particular refund claim filed in FORM GST RFD-01.

3. In case a favourable order is received by a registered person in appeal or in any other forum in respect of a refund claim rejected through issuance of an order in FORM GST RFD-06, the registered person would file a fresh refund application under the category "Refund on account of assessment/provisional assessment/appeal/any other order" claiming refund of the amount allowed in appeal or any other forum. Since the amount debited, if any, at the time of filing of the refund application was not re-credited, the registered person shall not be required to debit the said amount again from his electronic credit ledger at the time of filing of the fresh refund application under the category "Refund on account of assessment/provisional assessment/appeal/any other order". The registered person shall be required to give details of the type of the Order (appeal/any other order), Order No., Order date and the Order Issuing Authority. The registered person would also be required to upload a copy of the order of the Appellate or other authority, copy of the refund rejection order in FORM GST RFD 06 issued by the proper officer or such other order against which appeal has been preferred and other related documents.

4. Upon receipt of the application for refund under the category "Refund on account of assessment/provisional assessment/appeal/any other order" the proper officer would sanction the amount of refund as allowed in appeal or in subsequent forum which was originally rejected and shall make an order in FORM GST RFD 06 and issue payment order in FORM GST RFD 05 accordingly. The proper officer disposing the application for refund under the category "Refund on account of assessment/provisional assessment/appeal/any other order" shall also ensure re-credit of any amount which remains rejected in the order of the appellate (or any other authority). However, such re-credit shall be made following the guideline as laid down in para 4.2 of Circular no. 59/33/2018 - GST dated 04/09/2018.

5. The above clarifications can be illustrated with the help of an example. Consider a registered person who makes an application for refund of unutilized ITC on account of export to the extent of Rs. 100/- and debits the said amount from his electronic credit ledger. The proper officer disposes the application by allowing refund of Rs. 70/- and rejecting the refund of Rs. 30/-. However, he does not re-credit Rs. 30/- since appeal is preferred by the claimant and accordingly FORM GST RFD 01B is not uploaded. Assume that the appellate authority allows refund of only Rs. 10/- out of the Rs. 30/- for which the registered person went in appeal. This Rs. 10/- shall be claimed afresh under the category "Refund on account of assessment/provisional assessment/appeal/any other order" and processed accordingly. However, subsequent to processing of this claim of Rs. 10/- the proper officer shall re-credit Rs. 20/- to the electronic credit ledger of the claimant, provided that the registered person is not challenging the order in a higher forum. For this purpose, FORM GST RFD 01B under the original ARN which has so far not been uploaded will be uploaded with refund sanctioned amount as Rs. 80/- and the amount to be re-credited as Rs. 20/-. In case, the proper officer who rejected the refund claim is not the one who is disposing the application under the category "Refund on account of assessment/provisional assessment/appeal/any other order", the latter shall communicate to the proper officer who rejected the refund claim to close the ARN as above only after obtaining the undertaking as referred in para 4.2 of Circular no. 59/33/2018 - GST dated 04/09/2018.

Tags : Refund Claim Procedure

Share :

Top

Reserve Bank of India

03.10.2019

Banking

Reserve Bank of India imposes penalty on United Overseas Bank Limited

MANU/RPRL/0177/2019

The Reserve Bank of India (RBI) has, by an order dated October 01, 2019, imposed a monetary penalty of ` One crore on United Overseas Bank Limited (the bank) for its failure to comply with the provisions of section 10B of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Act, taking into account the failure of the bank to adhere to the aforesaid provisions of the Act. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank.

Tags : Non-compliance Provision Penalty Imposition

Share :

Top

Ministry of Finance 

01.10.2019

Banking

Central Government hereby declare that the provisions of sub-clause (i) of clause (c) of sub-section (1) of Section 10 of Banking Regulation Act, 1949 shall not apply to Kotak Mahindra Bank Limited

MANU/FNSV/0034/2019

In exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949, the Central Government, on the recommendation of the Reserve Bank of India, hereby declare that the provisions of sub-clause (i) of clause (c) of sub-section (1) of section 10 of the said Act shall not apply to Kotak Mahindra Bank Limited in so far as it relates to its Managing Director and Chief Executive Officer Shri Uday Kotak being on Board of Infrastructure Leasing and Financial Services Limited as its Non-executive Director for a period up to the 2nd day of October, 2020.

Tags : Provisions Non applicability Kotak Mahindra Bank

Share :

Top

Press Information Bureau

01.10.2019

Direct Taxation

CBDT inks the 300th Advance Pricing Agreement

MANU/PIBU/1467/2019

The Central Board of Direct Taxes (CBDT) has signed the 300th Advance Pricing Agreement (APA) during the month of September, 2019. This is a significant landmark of India's APA Programme, which is currently in its seventh year.

Three APAs were entered into in September, 2019 (2 Unilateral and 1 Bilateral APA), which has taken the total number of APAs signed by CBDT to 300. During the ongoing fiscal, the total number of APAs entered into has gone up to 29 (27 Unilateral and 2 Bilateral APAs). The Bilateral APA signed in September, 2019 pertains to United Kingdom. The APAs entered into during September, 2019 pertain to various sectors of the economy like retail, garments, and consumer foods. The international transactions covered in these agreements, inter alia, include provision of software development services, contract manufacturing, provision of IT enabled Services and provision of Support Services.

The APA Scheme continues to make good progress in providing tax certainty to MNEs. It reflects the Government's commitment towards fostering a non-adversarial tax regime.

Tags : CBDT Advance Pricing Agreement

Share :

Top

Press Information Bureau

01.10.2019

Consumer

Union Consumer Affairs Minister, Shri Ram Vilas Paswan launches 'Consumer App': A one stop solution for consumer grievance redressal at the palm of every consumer across the nation

MANU/PIBU/1468/2019

In order to fast-track consumer grievance redressal process and provide an effective forum for consumers to give their valuable suggestions to the Department on consumer related issues, Union Minister of Consumer Affairs, Food and Public Distribution Shri Ram Vilas Paswan launched the 'Consumer App' today in Krishi Bhawan. Another bold step towards achieving the objective of 'Digital India', the app aims to provide a one stop solution for consumer grievance redressal at the palm of every consumer across the nation via mobile phones.

The Consumer App is loaded with various consumer centric features which will benefit both Consumers and the Government. Consumers can sign-up with an OTP (one time password) and create an user ID and password to use the app. Consumers will now be able to lodge complaints / Grievances directly through this app which then will be taken up with companies for quick redressal. Feature to track the lodged grievances is also built in this app. Various important links that will be useful to the consumers are also available in the app.

The knowledgebase available in the app is a very useful feature that will help consumers get information pertaining to 42 Sectors including Consumer Durables, Electronic Products, e-commerce, Banking, Insurance, etc. Consumers can use this app in Hindi and English on both Android and IoS platforms. This App can be downloaded free of cost from Google Play Store or App Store for Apple. Consumers can also give their valuable suggestions through the Consumer App.

Tags : Consumer App Launch Grievance redressal

Share :

Top

Press Information Bureau

01.10.2019

Direct Taxation

DIN system of CBDT launched

MANU/PIBU/1469/2019

The Documentation Identification Number (DIN) system of Central Board of Direct Taxes (CBDT) has come into existence from today with the generation of about 17,500 communications with DIN on the very first day. This path breaking DIN system has been created as per the direction of Finance Minister Ms. Nirmala Sitharaman and from now onwards every CBDT communication will have to have a documentation identification number.

Revenue Secretary Dr. Ajay Bhushan Pandey said, "From today, any communication from Income Tax Department without a computer generated DIN, be it a notice, letter, order and summon or any other correspondence, would be treated as invalid and shall be non est in law or deemed to be as if it has never been issued. The DIN system would ensure greater accountability and transparency in tax administration."

"Now from today onwards, all such communications with DIN would be verifiable on the e-filing portal and no communication would be issued manually without DIN except only if it is in the specified exceptional circumstances", said Dr. Pandey.

It would be pertinent to mention here that while specifying such exceptional circumstances the CBDT Circular related to DIN dated 14.08.2019 says that whenever any such manual communication would be issued, it would be necessarily required to specify reason of issuing such a communication without DIN along with the date of obtaining written approval of the Chief Commissioner/Director General of Income Tax in a particular format. Any communication which is not in conformity of with the prescribed guidelines shall be treated as invalid and non est in law. CBDT has specified that any communication issued manually under exceptional circumstances would have to be uploaded and regularised on the system portal within 15 days of its issuance.

CBDT has also stated that all pending assessment proceedings, where notices were earlier issued manually, prior to the DIN related Circular dated 14.08.2019 coming into existence, all such cases would be identified and notices so sent would be uploaded on ITBA by the end of this month, i.e., by 31st Oct 2019. This is in pursuance of the directions by the Hon'ble Prime Minister in which he has asked the Department of Revenue to come up with specific measures to ensure that the honest taxpayers are not harassed and served better.

Tags : DIN system CBDT Launch

Share :

Top

Telecom Regulatory Authority of India

01.10.2019

Media and Communication

TRAI releases "Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charge (Second Amendment) Regulations, 2019

MANU/TRAI/0094/2019

The Telecom Regulatory Authority of India (TRAI) has issued "Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charge (Second Amendment) Regulations, 2019 (04 of 2019)" on 30th September, 2019. TRAI notified "Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charge Regulations, 2009 (9 of 2009)" on 20th November, 2009. As per these principal regulations, TRAI had fixed Rs. 19/- as 'Per Port Transaction Charge (PPTC)' for mobile number portability services offered by mobile number portability service providers (MNPSPs).

The Authority revised the mobile number portability (MNP) process by issuing the "Telecommunication Mobile Number Portability (Seventh Amendment) Regulations, 2018" on 13th December 2018 (7th Amendment) following a detailed public consultation. Subsequently, the Authority initiated a public consultation for review of the per port transaction charge and other related charges for mobile number portability by issuing a consultation process on 22nd February 2019 (subsequently updated on 1st April 2019), inviting written comments on the issues raised in the consultation from stakeholders. An Open House Discussion in this regard was also held on 27th May 2019.

After considering all the comments and other information available on record, the Authority has issued "Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charge (Second Amendment) Regulations, 2019 (04 of 2019)" prescribing the PPTC of Rs. 6.46 for each port request on 30th September, 2019. These regulations would come into effect from 11th November, 2019 (i.e. when the 7th Amendment comes into force).

The Telecommunication Tariff (Forty-Ninth Amendment) Order, 2009 prescribed the Per Port Transaction Charge, as provided under the Telecommunication Mobile Number Portability Per Port Transaction Charge and Dipping Charge Regulations, 2009 (9 of 2009) (as amended from time to time), as ceiling for the tariff that could be charged from subscriber by the recipient operator for availing MNP services. Now, with notification of this amendment to the aforesaid regulations, the ceiling for the tariff that could be charged from subscriber by the recipient operator stands automatically reduced. However, the recipient operators are free to charge a lesser amount from the subscribers availing mobile number portability services.

Tags : Transaction Charge Dipping Charge Regulations

Share :

Top

Press Information Bureau

01.10.2019

MRTP/ Competition Laws

CCI approves acquisition of shareholding in GMR Airports Limited by TUTPL, Valkyrie and Solis under Section 31(1) of Competition Act, 2002

MANU/PIBU/1471/2019

CCI approves the acquisition of shareholding in GMR Airports Limited ("GAL") by TRIL Urban Transport Private Limited ("TUTPL"), Valkyrie Investment Pte. Ltd. ("Valkyrie") and Solis Capital (Singapore) Pte. Limited ("Solis") under Section 31(1) of the Competition Act, 2002

The proposed combination relates to the acquisition of up to 55.2% equity stake in GAL collectively by TUTPL, Valkyrie and Solis. TUTPL is a wholly-owned subsidiary of Tata Realty and Infrastructure Limited ("TRIL"), which in-turn is a wholly-owned subsidiary of Tata Sons Private Limited ("Tata Sons"). TUTPL is engaged in the development of urban transport and infrastructure facilities such as ropeways, metro rail transit system etc.

Valkyrie is a foreign venture capital investor ("FVCI") registered with the Securities and Exchange Board of India ("SEBI") under the SEBI (Foreign Venture Capital Investors) Regulations, 2000 ("SEBI FVCI Regulations"). Valkyrie is a special purpose vehicle organized as a private limited company in Singapore and is an affiliate of GIC Private Limited.

Solis is registered as a FVCI with SEBI under the SEBI FVCI Regulations. Solis is an investment vehicle of the SSG group and is advised by SSG Capital Management (Singapore) Pte. Ltd., which is regulated by Monetary Authority of Singapore to undertake fund management activities.

GAL is registered with the RBI as a CIC-ND-SI and is an investment holding company. GAL, through its subsidiaries, is engaged in developing, managing and operating airports in India and around the world, while also being engaged in associated business activities. The Commission approved the Proposed Combination subject to carryout of certain modifications proposed by TUTPL under Regulation 19 (2) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.

Tags : Acquisition Shareholding GAL

Share :