Answer the following questions: (i) Mr. Suresh, a partner in M/s Trinity & Co., a firm registered under GST, retired from the said firm on 30 th…

17. (i) Where any partner retires from the firm, he or the firm, shall intimate the date of retirement of the said partner to the Commissioner by a notice in that behalf in writing and such partner shall be liable to pay tax, interest or penalty due up to the date of his retirement whether determined or not, on that date. However, if no such intimation is given within 1 month from the date of retirement, the liability of such partner shall continue until the date on which such intimation is received by the Commissioner. Since, in the given case, intimation is not given within 1 month from the retirement date, Suresh is liable for liability till the date of intimation, which is 15 th October. (ii) A merchant exporter receiving goods at concessional rate of tax @ 0.1% (0.05% CGST + 0.05% SGST & 0.1% IGST) is eligible to take credit of the concessional tax so paid by him 6 . Further, he can: export under LUT/bond without payment of IGST and claim refund of unutilized ITC, or export on payment of IGST and claim refund of that IGST 7 . Thus, in the given case, Rathore Ltd. is eligible to take credit of the concessional tax paid by it. Further, it can export under LUT/bond without payment of IGST and claim refund of unutilized ITC or export on payment of IGST and claim refund of that IGST. Hence, the view of the accountant of Rathore Ltd. is incorrect.