According to GST laws, IGST would be levied and collected in accordance with the provisions of the Customs Tariff Act
The commerce ministry should now wake up and suitably amend the SEZ laws
Sources said investigation was underway and the fraud amount was expected to go up to Rs 2 billion
The GST law specifically restricts input tax credit in respect of goods disposed of by way of free samples
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation
Govt has allowed claim of transitional credit before payment of tax for the month of July
GST law requires recipient registered under it to deposit liability under reverse charge mechanism