Daily Archives: September 6, 2016

GST on E Commerce : Analysis

GST on ELECTRONIC COMMERCE Sponsored Book BUY E-commerce companies selling goods on portal are being made liable to collect GST at source. In effect, the e-commerce companies will be paying advance GST. The actual supplier supplying goods to ultimate customer can avail input tax credit of GST paid by the electronic commerce operator. ‘Electronic commerce‘ shall… Read More »

No Action on Cash Deposit After Declaring Income Under IDS

The government has said no adverse action will be taken by Financial Intelligence Unit or the income-tax department solely on the basis of the information regarding cash deposit made consequent to the declaration under the black money scheme. Credit for unclaimed tax deducted at source made on declared income shall be allowed and no capital… Read More »

Prosecution and Compounding under GST

PROSECUTION AND COMPOUNDING UNDER GST Sponsored Book BUY Prosecution for Offences under GST Law As per clause 73(1) of GST Model Law, 2016, whoever commits any of the following offences, namely— (a) supplies any goods and/or services without issue of any invoice or issues an incorrect or false invoice with regard to any such supply;… Read More »

Appeals under GST

APPEALS UNDER GST Sponsored Book BUY Appeals against adjudication order GST Model Law, 2016 makes provisions in respect of appeals against orders passed by adjudicating authority. The CGST law makes provisions of first appeal before ‘First Appellate Authority’ and second appeal before ‘National Goods and Service Tax Appellate Tribunal’ (Appellate Tribunal). In CGST, as per… Read More »

Offences and Penalties under GST

OFFENCES AND PENALTIES UNDER GST Sponsored Book BUY Offences under GST Law Following are offences under GST Law. Penalties can be imposed by departmental authorities to person committing the specified offence. As per clause 66(1) of Model GST Law, 2016, Where a taxable person who — (i) supplies any goods and/or services without issue of… Read More »

Verification of Closed Exempted/Relaxed Establishments by EPFO

Employees’  Provident  Fund Organisation Bhavishya Nidhi Bhawan,14- Bhikaji Cama Place, New Delhi -110066 No. C-Ex/32(1)/15/BR/SRO/MUZ/CE/EZ/10249  dated 05/09/2016 To All Addl. Central P.F. Commissioners (Zones) , All Regional P. F. Commissioners , Regional Offices/Sub-Regional Offices. Subject: Verification of Closed Exempted/Relaxed Establishments- Regarding. Sir, Please refer to the subject cited above. Recently a reference was received from… Read More »

Refund in GST- Goods and Service Tax

REFUND IN GST Sponsored Book BUY Refund of tax and interest under GST Any person claiming refund of any tax and interest, if any, paid on such tax or any other amount paid by him, may make an application in that regard to the proper officer of IGST/CGST/SGST before the expiry of two years from… Read More »