N K GOEL AND BROS.

AAR KARNATAKA has held that Concessional CGST rate of 0.75% available to promoter in terms of entry at S. No. 3(i) of Notification No. 11/2017-CT(R) is not available to sub-contractors engaged by the promoter Entry only extends the benefit to promoter in respect of the construction of affordable residential apartments  - Om Construction Company, In re - [2022] 139  taxmann.com  417 (AAR - KARNATAKA) -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

The DGFT has issued  Trade Notice No. 12/2022-23, dated May 30, 2022    to provide that the exporting firms who have been issued scrips under RoSCTL Scheme for exports/shipping bills upto 31.03.2020 shall upload electronic Bank Realisation Certificate ('e-BRCs') at the DGFT server on or before 15.07.2022.  As, the rebate under RoSCTL Scheme is subject to the receipt of export proceeds within the time allowed under the FEMA regulations. The DGFT has also clarified that if the exporter fails to comply with the said requirement, an action would be initiated by the jurisdictional Regional Authorities in accordance with the recovery mechanism provided under Para 4.96 of HBP -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM