GST

Dealers working on the agency model can now claim GST input tax credit on demo vehicles after CBIC withdrew its earlier restrictive view.

Which bank units can use the 50% ITC option, and when inter-branch supplies get full credit relief: what the new clarification says for banks.

New ISD rules: recipient units, not the distributor, must check eligibility and reverse credit; ISD invoices stay out of turnover for refunds.

Pre-deposit for second appeals is fixed at 10% of disputed tax, and refunds must follow a favourable order unless it is stayed.

CBIC directs officers to pass reasoned orders that answer every defence, and caps demands at the amounts and grounds in the show cause notice.

57th GST Council: arrest powers to be removed, prosecution threshold raised to Rs 5 crore, and faster registrations and refunds.