MM TAX CLUB

Ministry of Finance vide Notification F. No A-50050/69/2023-CESTAT-DOR dated October 25, 2023, notified the "Goods and Services Tax Appellate Tribunal (Appointment and Conditions of Service of President and Members) Rules, 2023." These rules, upon their publication in the Official Gazette, will come into force and will be applicable to the President, Judicial Member, Technical Member (Centre), and Technical Member (State) of both the Principal Bench and State Bench of the Goods and Services Tax Appellate Tribunal. They encompass various provisions related to the appointment and removal of the President and Members, their salaries and allowances, as well as delineating their respective powers.

Circular No. 16/2023 dated 18^th September 2023

                Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24

On consideration of difficulties reported by the taxpayers and other stakeholders, the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Income-tax Act, 1961 (Act), provides relaxation in respect of following compliances:

1. The due date of furnishing Audit report under clause (b) of the tenth proviso to clause (23C) of section 10 and sub-clause (ii) of clause (b) of sub-section (1) of section 12A of the Income-tax Act, 1961, in the case of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution in Form 10B/Form 10BB for the Previous Year 2022-23, which is 30™ September, 2023, is hereby extended to 31% October, 2023.
2. The due date of furnishing of Return of Income in Form ITR-7 for the Assessment Year 2023-24 in the case of assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, which is 31% October, 2023, is hereby extended to 30% November, 2023.

I am directed to refer to the matter regarding refund of TED on supply of fuel to Projects listed for petroleum operations in the Customs Notification No. 50/2017-Customs dated June 30, 2017 under S.No. 404 List 33 subject to conditions mentioned in Para 7.02(f) of FTP, 2015-20. The matter has been examined in consultation with DoR and accordingly, all RAS/DCs are directed to consider the cases of refund of Deemed Exports benefits on supply of fuel for Petroleum Exploration/Operation under FTP 2015-20 (extended upto March 31, 2023) as per the following guidelines:

(i) As clarified by TRU Division of DoR vide D.O. letter dated February 01, 2022 & O.M. No. CBIC- 190354/149/2022-TO(TRU-I)-CBEC dated July 25, 2023, benefit of TED on supply of fuel for Petroleum Operations was available till February 01, 2022 and thereafter discontinued with effect from February 02, 2022 with the issue of Customs Notification No. 02/2022 dated February 02, 2022. Hence claims received by RAS/DCs for refund of TED for supply of fuel for Petroleum Exploration/Operation till February 01, 2022 can only be considered.

(ii) The claims are to be examined in accordance to Para 7.08 (iii) of FTP, 2015-20 which inter-alia states that "Deemed export benefit shall be available on supply of "Fuel" (in respect of eligible fuel items covered under Schedule 4 of Central Excise Act 1944) provided supplies are made to:

a. Project listed for petroleum operations in the Customs Notification No. 50/2017- Customs dated June 30, 2017 under Sr. No. 404, as amended from time to time and covered in Para 7.02 (f) of FTP.

b. EaUs

c. Advance Authorisation holder / Annual Advance Authorisation holder.

(iii) The applicants may be asked to give a declaration that HSD procured by them under the subject invoices in the application has been used for running. (repairing, or maintenance) of helicopters, all types of marine vessels to support petroleum operation including work boats, barges, crew boats, tugs and supply boats etc.

iv) The applicant may also be asked to submit a certificate from a Chartered Accountant saying that the HSD so procured has been included in the detail of expenditure, submitted for the relevant period, by him to Director General Hydrocarbons, Ministry of Petroleum and Natural Gases, Govt. of India. The certificate may also state that these expenses have not been disallowed by DGH.

v) It may also be checked from the invoices that the HSD has been procured by the Applicant from one of the public sector oil marketing companies and the excise duty on the same has been discharged in cash.

vi) Only Basic Excise duty is to be paid. No refund of other duties such as Additional Excise Duty/S. Additional Excise Duty etc. is admissible.