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Indirect Tax Weekly Digest_7 August 2018

07 August 2018

Read more about Foreign Trade Policies, Indirect Tax Legislative and Judicial updates in The Indirect Tax Weekly Digest by BDO in India.

This edition of the weekly digest highlights:

  • Allahabad CESTAT decision on non-applicability of service tax on Interchange fee earned in respect of credit card transactions
  • Hon’ble Supreme Court decision - Exemption Notifications has to be strictly interpreted, unlike the charging sections of a taxing statute
  • Withdrawal of discount does not amount to profiteering under Section 171 of the CGST ACT, 2017 (National Anti-profiteering)
  • AAR- Maharashtra - ‘Discounts’ must be specified in the terms of the agreement (pre-defined) to arrive at the transaction vale under Section 15 of the CGST Act, 2017, other notifications/circulars/trade notices/ trade circulars

We hope you find it useful and an interesting read.