India: Uniform procedures for GST refund claims; tax withholding on benefits

KPMG reports about recent tax developments

KPMG reports about recent tax developments

The KPMG member firm in India has prepared reports about the following tax developments (read more at the hyperlinks provided below).

  • Clarification on procedures for GST refund claims: The Central Board of Indirect Taxes and Customs (CBIC) issued guidance concerning different practices being followed by various adjudicating officers regarding refunds and specifically refunds of goods and services tax (GST). The guidance provides for uniform treatment of refund claims. Read a June 2022 report [PDF 566 KB]

  • Guidelines to address tax withholding, benefits from business or profession: The Central Board of Direct Taxes issued guidelines in a “question and answer” (Q&A) format to address certain difficulties that taxpayers may encounter regarding the withholding (deduction) of tax under Section 194R (as added to the tax law by the Finance Act, 2022, requiring tax withholding at the rate of 10% on the value or aggregate of value of such benefits or perquisites, effective 1 July 2022). Read a June 2022 report [PDF 419 KB]

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.