Cir(139)/2022                                                                                October 19, 2022

Committee:

Sub.:– PowerPoint Presentation on GST Updates – Understanding recent amendments and its Impact on Textile Industry – reg.

Dear Sirs/Madam,

We thank the Members for attending Interactive Webinar on GST Updates – Understanding recent amendments and its Impact on Textile Industry” which held yesterday on 18th October 2022 at 3:00 PM, through virtual mode.

Mr. Vishal G. Poddar made a detailed PowerPoint Presentation on “Recent GST Amendments and its Impact on the Textile Industry” a copy of the same is attached for your reference.

The Presentation covered the following important recent amendments:

1. Transfer of Balance in Electronic Cash Ledger;
2. Interest – When ITC is not allowed;
3. Extension of Time Limit for Issuance of Notice, Refund Claim;
4. ITC Reversal – Duty Credit Scrips;
5. Recredit of Refund Paid Back;
6. Refund Under Inverted Duty Structure;
7. Date of Refund Application – Exports (With Payment of Tax);
8. Synopsis of GST Amendments;
9. Changes wrt Input Tax Credit;
10. Refund Related Changes;
11. Procedural Changes;
12. Miscellaneous Changes;
13. Other Significant Amendments; and
14. E-Invoicing

On behalf of the Industry, Mr. Rajesh Chopra, Senior Vice President, Commercial & Legal, Vardhman Textiles Ltd., Mr. Nitin Goyal, Vice President – Group Indirect Tax Head, Welspun Group and Mr. Ashish Agarwal, Head-GST, Trident Group made their observations on the recent GST Updates and thanked Mr. Vishal Poddar and CITI for organising such an informative and interactive webinar.

Participants raised their concerns/ queries on the following issues:

1. filing of refund on the basis of new formula, the department is issuing show-cause notices on the basis that amendment is applicable prospectively and not retrospectively;
2. raw material imported on Advance Authorisation Licence (AAL) was used with other raw material for manufacture of goods which was exported after paying IGST. Exporter claimed the refund however got suggestion that he can’t export the goods produced from such raw material imported under AAL and should made an application to return the refund;
3. for availment of ITC which is lying in electronic credit ledger, do the authority see it as a total ITC or kity-wise: IGST, CGST, SGST;
4. export freight exemption expired on 30^th September 2022 should have been continued as ITC on services is not fully refunded
5. exemption on import of cotton should be extended beyond 31^st October 2022
6. a tax-payer should not be held responsible for the irregularities of the taxes found in the entire supply chain, it is a matter of great concern for the entire industry
7. there should be a facility through which we should be able to amend our GSTR1 & GSTR3B
8. there should be a provision for amending E-Way Bill and E-Invoicing
9. clarity on Ocean freight

We would like to conduct more such GST webinars on regular intervals to help the industry players understand recent amendments as also understand the procedural constraints being faced by members.

We look forward to your feedback and suggestions for making the webinars more useful and informative for the industry.

Thanking you,

Yours faithfully,

Chandrima Chatterjee

Secretary General